The origin of gamma-ray bursts has been one of the great unsolved myst
eries in high-energy astrophysics for almost 30 years. The recent disc
overy of fading sources at X-ray(1) and optical(2,3) wavelengths coinc
ident with the location of the gamma-ray burst GRB970228 therefore pro
vides an unprecedented opportunity to probe the nature of these high-e
nergy events. The optical counterpart appears to be a transient point
source embedded in a region of extended nebulosity(3-6), the latter ha
ving been tentatively identified as a high-redshift galaxy(3). This wo
uld seem to favour models that place gamma-ray bursts at cosmological
distances, although a range of mechanisms for producing the bursts is
still allowed. A crucial piece of information for distinguishing betwe
en such models is how the brightness of the optical counterpart evolve
s with time. Here we re-evaluate the existing photometry of the optica
l counterpart of GRB970228 to construct an optical light curve for the
transient event. We find that between 21 hours and six days after the
burst, the R-band brightness decreased by a factor of similar to 40,
with any subsequent decrease in brightness occurring at a much slower
rate. As the point source faded, it also became redder. The initial be
haviour of the source appears to be consistent with the 'fireball' mod
el(7), but the subsequent decrease in the rate of fading may prove har
der to explain.