A quantum algebra invariant integrable closed spin 1 chain is introduced an
d analyzed in detail. The Bethe ansatz equations as well as the energy eige
nvalues of the model are obtained. The highest weight property of the Bethe
vectors with respect to U-q(sl(2)) is proved. (C) 1999 American Institute
of Physics. [S0022-2488(98)01512-6].