We report on the discovery of the radio, infrared and optical transient
coincident with an X-ray transient proposed to be the afterglow of GRB 980703.
At later times when the transient has faded below detection, we see an
underlying galaxy with R=22.6; this galaxy is the brightest host galaxy (by
nearly 2 magnitudes) of any cosmological GRB thus far. In keeping with an
established trend, the GRB is not significantly offset from the host galaxy.
Interpreting the multi-wavelength data in the framework of the popular fireball
model requires that the synchrotron cooling break was between the optical and
X-ray bands on July 8.5 UT and that the intrinsic extinction of the transient
is Av=0.9. This is somewhat higher than the extinction for the galaxy as a
whole, as estimated from spectroscopy.Comment: 5 pages, 3 figures, and 2 tables. Submitted to the Astrophysical
Journal Letters on 27 August 199