We analyze archival ROSAT HRI, ROSAT PSPC, and ASCA data of the X-ray-faint
early-type galaxy NGC 4697. The joint ROSAT PSPC + ASCA spectrum is fitted
by a two-component thermal model, a MEKAL model with kT(MEKAL) = 0.26(-0.0
3)(+0.04) keV with low metallicity and a bremsstrahlung model with kT(BREM)
= 5.2(-1.6)(+3.0) keV. A similar model was found to fit the spectra of ano
ther faint early-type galaxy (NGC 4382) and the bulge of M31. We interpret
this soft emission as a combination of emission from a soft component of lo
w-mass X-ray binaries (LMXBs) and from a low-temperature interstellar mediu
m, although the relative contributions of the two components could not be d
etermined. Twelve point sources were identified within 4 ' of NGC 4697, of
which 11 are most likely LMXBs associated with the galaxy. The soft X-ray c
olors of four of the LMXBs in NGC 4697 support the claim that LMXBs possess
a soft spectral component. Finally, we present a simulation of what we bel
ieve the Chandra data of NGC 4697 will look like.