****************************************************** PR # 43011 The EUV transient source RE~J1255+266 was, temporarily, the brightest object in the EUV sky in 1994. We have now identified this system with a 18 mag. emission line star. A follow-up optical study suggests RE~J1255+266 may be an accretion-powered system, i.e. a cataclysmic variable which should, by analogy with related systems, have a detectable hard flux in quiescence. The ASCA observation we propose will provide the first hard X-ray data on this object. ASCA X-ray spectroscpy will provide a powerful diagnostic of the accretion processes taking place in this unusual system, since the spectrum is expected to be dominated by thermal X-ray emission. ******************************************************