\documentstyle{preprint} \begin{document} \title{NOVAE AS DISTANCE INDICATORS} \author{Mario Livio\\ \\ Space Telescope Science Institute\\ \\ 3700 San Martin Drive\\ \\ Baltimore, MD 21218} \pub{{\em the proceedings of the symposium}\\ ~\\ Extragalactic Distance Scale\\ ~\\ {\em held 7--10 May 1996 in Baltimore, MD}} \maketitle \begin{abstract} An updated relation between the magnitude at maximum and the rate of decline of novae is presented, on the basis of novae in M31 and the LMC. The relation has a low intrinsic scatter. The theoretical basis for this relation is explained and it is shown that the theoretical relation agrees extremely well with the observed one. When the new calibration is applied to relatively poor light curves of novae discuvered in Virgo, it gives a distance to the cluster of $18.6\pm3.3$ Mpc. A relatively high quality light curve of a nova discovered in M100 yields a distance modulus of $\mu_0\sim31.0\pm0.3$ mag, in excellent agreement with the Cepheid distance to this galaxy. On the basis of the information presented in this work, it is argued that novae are very good distance indicators. \end{abstract} \end{document}