TeV Observations of the Variability and Spectrum of Markarian 501

Markarian 501 is only the second extragalactic source to be detected with high statistical certainty at TeV energies; it is similar in many ways to Markarian 421. The Whipple Observatory gamma-ray telescope has been used to observe the AGN Markarian 501 in 1996 and 1997, the years subsequent to its initial detection. The apparent variability on the one-day time-scale observed in TeV gamma rays in 1995 is confirmed and compared with the variability in Markarian 421. Observations at X-ray and optical wavelengths from 1997 are also presented.