We have reanalysed the various terms contributing to the luminosity ca
lculation in the angular region of the new silicon-tungsten calorimete
rs at LEP. The calculations of the QED O(alpha) corrections and of the
higher-order leading-log corrections to the t-channel photon-exchange
contribution have a technical precision of 0.03%, comparable to that
shown for larger angles. The relative contribution of terms involving
Z exchange is four times smaller than was the case for the old luminos
ity detectors. This also reduces the size of the errors related to thi
s contribution. The error in the hadronic part of the photon vacuum po
larization in the t-channel is 0.05%. The total theoretical error is e
stimated to be 0.25%.