4-Bis(methylthio)methylene-2-phenyloxazol-5-one has been shown to be a versatile template for the synthesis of various 2-phenyl-3,4-substituted oxazoles via nucleophilic ring-opening of oxazolone with various oxygen, nitrogen, and carbon nucleophiles and subsequent 5-endo cyclization of the resulting acyclic adducts in the presence of silver carbonate.