I was in my early twenties and as all young men i was always horny as hell, when i didn't have girl friend i was constantly wanking and looking for opertunities to to get inside someones knickers. Bit of a slag really but I was happy enough at the time. This one particular time I was staying at a mates house for the weekend, he had gone out early for work and i was having a lay in. I got up to go for a pee and whilst in the bathroom i noticed the washing basket lid was off and on top of the pile of washing was a pair of knickers. I couldn't help myself and picked them up to have a smell, they must have been my mates mums as she was the only woman in the house as he had no sisters. They were very sexy knickers, the high leg ones in white with a lace panel at the front. I decided to take them back to the bedroom so I could satisfy the large erection that had developed in my shorts. just as I came out of the bathroom my mates mum was coming out of her bedroom, Oh shit, I stoped dead, I thought she was out and there I was standing in front of her with a pair of her knickers in my hand and a tent in my shorts. I stammered something about i thought I was in on my own, she looked at me and smilled and said "yes so it would appear, and what are you going to do with my dirty knickers then". Shit again, caught red handed, hieght of embaressment. She then looked at the tent in my shorts and said " you will have to do something about that wont you, you cant go around all day with that in your jeans you will get arressted". She then winked at me and told me to go and enjoy myself, I quikly ran into the bedroom to get out of her sight as I could feel my face burning with shame. I sat on the bed still holding her knickers in my hand and wondering what the hell i was going to do, I still had the bloody tent in my shorts as well, even getting caught red handed had not made that go away. Then the door opened and she was stood there looking at me with a wicked smile on her face ans said "well what are you going to do with my knickers now, would you like to put them on". To be honest i had not even thought about wearing them I was just going to wank in to them. She then said " if you put them on infront of me then i wont tell a soul that I have caught you with them.". I didn't know what to do, I didn't want all my mates to know that I had been caught with a pair of her knickers and I was very embarresed about putting them on in front of her, especialy as i still had a massive hard on. "well what is it to be then" I slowly stood up and turned around so she could not see my erection whilst i pulled my shorts down, then I stepped in to her knickers and pulled them up. I must admit I was now starting to enjoy this and the knickers fealt very sexy. She told me to turn around so she could see me properly. When I turned around I couldn't believe my eyes as she had let her bathrobe slip open and I could see her timmed bush and one of her wonderful breasts, my cock twiched. She looked at me and siad " very nice, they suit you, now lay on the bed and relieve yourself, Im going to watch you". I got on the bed and started to rub my cock through her knickers. She came and stood by my side and pushed her robe off her shoulders the started to run her hands over her breasts and down towards her pussy all the time waching me wank myself off through her knickers. She was a good looking woman in her late forties and her body was still in very good shape, i couldn't take my eyes of her as her hand went between her legs and she started to rub her clit. She then told me that she had been in bed and was having a little play with herself before she got up for her shower and had heard me go into the bathroom and I had disturbed her. When she saw me holding her knickers and then the large erection she decided to have a bit of fun with me. This sent me over the top and I stared to cum my seaman oozing through the lace of her knickers, I was gasping as I still wached her hand rubbing her clit. She then told me I would have to finish her off and straddled my face then told me to lick her, I was not needing to be told twice and eagerly lapped at her pussy and clit, she started to grind her pussy on to my face and i could hear her moaning and telling me what a dirty little bastard i was. Being a young man at the time my erection had not gone away even though I had cum. She slid down my body rubbing her pussy all over me untill she was riding my cock through her knickers, I was now able to play with her breasts and found her nipples were very large and she squeeled as I rolled them between my fingers. She then pulled my cock out of the side of her knickers and slipped it inside her and started to grind away on me. She was now moaning and telling me to pinch her nipples harder. I did and she started to cum, gasping and calling me a "dirty little bastard" it was to much for me and shot my cum deep inside her. We lay there for a while ubtill she sat up and told me not to tell a sole about what had just happened or she would let everyone know that I was in to wearing ladies undies. Trust me I was not going to tell anyone about this, not untill now that is as its nearly 30 years ago. She got off my cock picked up her bath robe and left the room to go for her shower telling me to put her knickers back in the wash basket when I had finished. I never got to see her naked again but she always had a smile for me when I went around there and there was always a pair of knickers on the top of the wash basket when ever I went around there. Wonderful memories and I did pocket a couple of pairs from time to time !