The QCD analysis of the process gamma* gamma -> pi pi at large Q^2 and small
center-of-mass energy allows one to access a new hadronic observable describing
the exclusive transition from a q qbar or g g state to a pair of mesons. A
fruitful study may be envisaged at existing machines.Comment: 7 pages, to appear in the Proceedings of PHOTON 2000, Ambleside,
England, August 200
