Status of weak matrix elements is reviewed. In particular, epsilon'/ep
silon, B --> Kgamma, B-K, B-B and B-B. are discussed and the overall
situation with respect to the lattice effort and some of its phenomeno
logical implications are summarised. For epsilon'/epsilon the need for
the relevant matrix elements is stressed in view of the forthcoming i
mproved experiments. For some of the operators, (e.g. O-s), even bound
s on their matrix elements would be very helpful. On B --> Kgamma, a
constant behavior of T-2 appears disfavored although dependence of T-2
could, of course, be milder than a simple pole. Improved data is badl
y needed to settle this important issue firmly, especially in view of
its ramification for extractions of V-td from B --> rho gamma. On B-K,
the preliminary result from JLQCD appears to contradict Sharpe et al.
JLQCD data seems to fit very well to linear a dependence and leads to
an appreciably lower value of BK. Four studies of BK in the ''full''
(n(f) = 2) theory indicate very little quenching effects on B-K; the f
ull theory value seems to be just a little less than the quenched resu
lt. Based on expectations from HQET, analysis of the B-parameter (B-hl
) for the heavy-light mesons via B-hl = constant + constants'/m(ht) is
suggested. A summary of an illustrative sample of hadron matrix eleme
nts is given and constraints on CKM parameters (e.g. V-td/V-ts), on th
e unitarity triangle end on x(s)/x(d), emerging from the lattice calcu
lations along with experimental results are briefly discussed. In quit
e a few cases, for the first time, some indication of quenching errors
on weak matrix elements are now becoming available.