The oxygen isotope effect on the relaxation rate of crystal-field excitatio
ns in the slightly underdoped high-temperature superconductor HoBa2Cu4O8 ha
s been investigated by means of inelastic neutron scattering. For the O-16
compound there is clear evidence for the opening of an electronic Sap in th
e normal state at T* approximate to 170 K far above T-c = 79 K. Upon oxygen
isotope substitution (O-16 vs O-18) T-c decreases marginally to 78.5 K, wh
ereas T* is shifted to about 220 K. This huge isotope shift observed for T*
which is absent in NMR and NQR experiments suggests that the mechanism lea
ding to an isotope effect on the pseudogap has to involve a time scale in t
he range 10(-8) much greater than tau > 10(-13) s.