An explicit expression for continuum annulus amplitudes having boundary
lengths ℓ1 and ℓ2 is obtained from the two-matrix model for the
case of the unitary series; (p,q)=(m+1,m). In the limit of vanishing
cosmological constant, we find an integral representation of these amplitudes
which is reproduced, for the cases of the m=2(c=0) and the m→∞(c=1), by a continuum approach consisting of quantum mechanics of loops
and a matter system integrated over the modular parameter of the annulus. We
comment on a possible relation to the unconventional branch of the Liouville
gravity.Comment: 9 pages, OU-HET 190, revised version. A part of the conclusions has
been corrected. A new result on integral representation of the annulus
amplitudes has been adde