This paper proposes a simple anti-windup mechanism for a model reference adaptive control scheme subject to saturation constraints. The anti-windup compensator has, in essence, the same structure as positive µ modification for the same class of systems. It is shown how this structure can, under certain circumstances, display characteristics similar to anti-windup schemes proposed for linear control systems. In particular, it is shown that if the (unknown) ideal control signal eventually lies within the control constraints, then the response of the adaptive control system will converge to that of the reference system -provided certain conditions are satisfied. The paper illustrates the challenge of designing anti-windup compensators for model-reference adaptive control systems.