The unprecedented single shot precision of the new-born Matera Laser Ranging Observatory (MLRO), that can reach a scattering down to a few millimeters on LA-GEOS orbit, discloses new chances in studying the high frequency dynamics. In this work we present the very first LAGEOS-2 observations in terms of range residuals and discuss the cause of the high frequencies noticed since the testing phase of the MLRO system. There are sufficient theoretical and experimental evidences to interpret those signals as rotational signatures of the spinning satellite and the first quantitative results we obtained indicates a rotation period of 23.5 s on May 31, 2000. ¿ 2001 American Geophysical Union