(Worthey 1994). To break this “age-Z degeneracy", it is necessary to add another measured quantity that is specifically sensitive to age. Four such quantities have been suggested for M32: 1) Balmer line strength (Burstein 1984, Faber 1992), which is directly sensitive to turnoff temperature, 2) Sr II$\lambda 4077 /$Fe I$\lambda 4045$ (Rose 1985, 1994), which is sensitive to the ratio of dwarf to giant light and hence to turnoff luminosity, 3) ultraviolet surface-brightness fluctuations at 2500Å (Worthey 1993), again sensitive to turnoff luminosity, and 4) (1500-V) color (Bressan, Chiosi, & Tantalo 1996), which measures age through its effect on the number and luminosities of hot post-RGB stars.

Many integrated light studies have claimed to have found evidence for a relatively young, few-Gyr-old stellar population in M32 (Baum 1959, Faber 1972, O’Connell 1980, Burstein 1984, Rose 1985, Bica, Alloin & Schmidt 1990, Hardy 1994). However, in retrospect it is clear that some of these investigations lacked the basic spectral information needed to distinguish age and Z, while others lacked sufficiently reliable population models to correctly interpret the important spectral features.

Rapid progress is being made on both fronts. Stellar population models, taking both age and Z into account, have been constructed 