Abstract. In this paper we construct fractional and imaginary powers for the positive momentum B of a spectral distribution and prove the basic properties.The main result is that for any a > 0 , -Ba generates a bounded strongly continuous holomorphic semigroup of angle | . In particular for a = 1 , using Stone's generalized theorem, if iB generates a k-times integrated group of type 0(|/|fe) with cr(B) c [0, +oo[, then -B generates a strongly continuous holomorphic semigroup of angle |. A similar corollary is given in the regularized group situation.