A complete proof of the no-ghost theorem for bosonic and fermionic string t
heories on AdS(3), or the group manifold of SU(1, 1), is given. It is then
shown that the restriction on the spin (in terms of the level) that is nece
ssary to obtain a ghost-free spectrum corresponds to the stringy exclusion
principle of Maldacena and Strominger. (C) 1998 Published by Elsevier Scien
ce B.V.