EPSILON' EPSILON - 3 YEARS LATER

Three years after the completion of the next-to-leading order calculat ion, the status of the theoretical estimates of epsilon'/epsilon is re viewed. In spite of the theoretical progress, the prediction of epsilo n'/epsilon is Still affected by a 100% theoretical error. In this pape r the different sources of uncertainty are critically analysed and an updated estimate of epsilon'/epsilon is presented. Some theoretical im plications of a value of epsilon'/epsilon definitely larger than 10(-3 ) are also discussed.