First results concerning the performance characteristics of the HEGRA
IACT array are given based on stereoscopic observations of the Crab Ne
bula with four telescopes. The system provides a gamma-ray energy thre
shold around 0.5 TeV. The Crab signal demonstrates an angular resoluti
on of about 0.1 degrees. Shape cuts allow to suppress cosmic ray backg
round by almost a factor 100, while maintaining 40% efficiency for gam
ma-rays. The Crab signal is essentially background free. For longer ob
servation times of order 100 h, the system in its present form provide
s sensitivity to point sources at a level of 3% of the Crab flux. Perf
ormance is expected to improve further with the inclusion of the fifth
telescope and the implementation of advanced algorithms for shower re
construction. (C) 1997 Elsevier Science B.V.