We study the attractor mechanism in low-energy effective D = 4, N = 2 Yang-
Mills theory weakly coupled to gravity, obtained from the effective action
of type IIB string theory compactified on a Calabi-Yau manifold. Using spec
ial Kahler geometry, the general form of the leading gravitational correcti
on is derived, and from this the attractor equations in the weak gravity li
mit. The effective Newton constant turns out to be space-time-dependent due
to QFT loop and non-perturbative effects. We discuss some properties of th
e attractor solutions, which are gravitationally corrected dyons, and their
relation with the BPS spectrum of quantum Yang-Mills theory. Along the way
, we obtain a satisfying description of Strominger's massless black holes,
moving at the speed of light, free of pathologies encountered in earlier pr
oposals. (C) 1999 Elsevier Science B.V.