We discuss the phenomenology of the Lightest neutralino in models where an
effective bilinear term in the superpotential parametrizes the explicit bre
aking of R-parity. We consider supergravity scenarios where the lightest su
persymmetric particle (LSP) is the lightest neutralino and which can be exp
lored at LEP2. We present a detailed study of the LSP decay properties and
general features of the corresponding signals expected at LEP2. We also con
trast our model with gauge mediated supersymmetry breaking. (C) 2001 Elsevi
er Science B.V. All rights reserved,