An experimental indication of negative heat capacity in excited nuclear systems is inferred from the event by event study of energy fluctuations in $Au$ quasi-projectile sources formed in $Au+Au$ collisions at 35 A.MeV. The excited source configuration is reconstructed through a calorimetric analysis of its de-excitation products. Fragment partitions show signs of a critical behavior at about 5 A.MeV excitation energy. In the same energy range the heat capacity shows a negative branch providing a direct evidence of a first order liquid gas phase transition.