We report optical, radio and X-ray observations of the Narrow-Line Seyfert
1 galaxy RX J1702.5+3247. The soft (0.1-2 keV) X-ray flux, measured by Bepp
oSAX, is characterized by strong variability on short time scales (<500 s).
The most extreme amplitude variations require a radiative efficiency excee
ding the maximum for a Kerr black hole, implying the presence of relativist
ic effects. A comparison with archival ROSAT data reveals long term tempora
l and spectral variability. The 0.1-10 keV spectrum is equally well fitted
either by an ionized reflection disk model, or by a broken power law plus a
Gaussian line, consistent with a hydrogen-like iron line at 6.97 keV from
a highly ionized accretion disk.