We report optical observations of the GRB 980329 error box which represent
the second earliest detection of the GRB 980329 optical transient. We deter
mine R = 23.7 +/- 0.5 mag on 29.89 March, which is consistent with R = 23.6
+/- 0.2 mag as reported by Palazzi et al. (1998) on 29.99 March. Based on
extrapolations of the light curve we claim that. the R-band magnitude of th
e GRB 980329 host galaxy should lie in the range 26.8 mag < R < 29 mag. We
also discuss the similarities with GRB 970111.