************************************************************************* 62062 PSR J0437-47 is the nearest millisecond pulsar, and the only one that can be studied well in X-rays. The leading interpretation of its spectrum and energy-dependent pulse shape involves thermal emission from heated polar caps emitting as a weakly magnetized neutron star atmosphere. Fundamental parameters such as M/R can be derived if this interpretation is correct. ASCA can confirm this model with its good spectral resolution and high-energy response. Previous short ASCA pointings at this pulsar were compromised by poor choice of observing modes, and failure to take into account the presence of a neighboring Seyfert galaxy. We will remedy this oversight with a new observation of PSR J0437-47 that can provide a good spectrum and pulse profile. The Seyfert galaxy will also be studied. *************************************************************************