A bright transient X-ray source, GRO J1655-40 (X-ray Nova Scorpii 1994) was discovered with BATSE (the Burst and Transient Source Experiment) in late July 1994. More recently, the source also became a strong radio emitter, its rise in the radio being approximately anti-correlated with a decline in the hard X-ray intensity. High-resolution radio observations subsequent to this symposium showed evidence for superluminally expanding jets. Since the hard X-ray emission extends to at least 200 keV and we find no evidence of pulsations, we tentatively classify the source as a black-hole candidate. However, its hard X-ray spectrum is unusually steep (power-law photon index α ≃ −3) relative to most other black-hole candidates. In this regard, it resembles GRS 1915+105, the first galactic source to show superluminal radio jets.