Exact solutions of heterotic string theory corresponding to four-dimen
sional charge Q magnetic black holes are constructed as tenser product
s of an SU(2)/Z(2Q+2) WZW orbifold with a (0,1) supersymmetric SU(1,1)
/U(1) WZW coset model. The spectrum is analyzed in some detail. ''Bad'
' marginal operators are found which are argued to deform these theori
es to asymptotically fiat black holes. Surprising behavior is found fo
r small values of Q, where low-energy field theory is inapplicable. At
the minimal value Q = 1, the theory degenerates. Renormalization-grou
p arguments are given that suggest the potential gravitational singula
rity of the low-energy field theory is resolved by a massive two-dimen
sional field theory. At (Q = 0, a stable, neutral ''remnant,'' of pote
ntial relevance to the black hole information paradox, is found.