Type IIB strings compactified on K3 have a rich structure of solitonic
strings, transforming under SO(21,5,Z). We derive the BPS tension for
mula for these strings, and discuss their properties, in particular, t
he points in the moduli space where certain strings become tensionless
, By examining these tensionless string limits, we shed some further l
ight on the conjectured dual M-theory description of this compactifica
tion. (C) 1997 Elsevier Science B.V.