Recently, in collaboration with Susskind, we proposed a model of Schwa
rzschild black holes in Matrix Theory. A large Schwarzschild black hol
e is described by a metastable bound state of a large number of D0-bra
nes which are held together by a background, whose structure has so fa
r been understood only in 8 and Il dimensions. The Hawking radiation p
roceeds by emission of small clusters of D0-branes. We estimate the Ha
wking rate in the Matrix Theory model of Schwarzschild black holes and
find agreement with the semiclassical rate up to an undetermined nume
rical coefficient of order 1. (C) 1998 Published by Elsevier science B
.V.