The blazar Mkn 421 has been observed, as part of the AO1 Core Program,
five times from 2 to 7 May 1997. In the LECS+MECS energy band the spe
ctrum shows convex curvature, well represented by a broken power-law.
Flux variability (more than a factor 2) has been detected over the ent
ire 0.1-10 keV range, accompanying which the spectrum steepens with th
e decrease in intensity. Mkn 421 has been also detected with the PDS i
nstrument. Our preliminary analysis indicates that the PDS spectrum li
es significantly above the extrapolation from the MECS, suggesting a c
ontribution from a flatter high energy component.