The Ultra-Violet Space Telescope “SPECTRUM-UV” consists of a 170-cm diffraction limited telescope for spectroscopy and imaging at λ ≥ 912 Å and a co-aligned assembly of two 50-cm telescopes for imaging and spectroscopy in the 400 to 1200 Å range and of four 20-cm, multilayer coated telescopes for narrow band imaging in the 100 to 400 Å range. The Observatory is an international facility to be launched in a highly eccentric orbit in the mid-1990s.