The emission spectrum of high quality ZnO epilayers is studied from room temperature up to 550 K. At room temperature and low excitation power a single emission peak is observed which may be identified with the free exciton from its peak energy and dependence on temperature. However, when excitation intensities exceed 400 kW cm−2 a sharp peak emerges at lower energy which we attribute to exciton-exciton scattering. At higher excitation intensities (>800 kW cm−2) a second stimulated emission peak emerges at even lower energies: we attribute this peak to be stimulated emission of an electron hole plasma. Similar features are observed for all temperatures up to 550 K.