Stringy Quantum Effects in 2-Dimensional Black-Hole

We discuss the classical 2-dim. black-hole in the framework of the non-perturbative formulation (in terms of non-relativistic fermions) of c=1 string field theory. We identify an off-shell operator whose classical equation of motion is that of tachyon in the classical graviton-dilaton black-hole background. The black-hole `singularity' is identified with the fermi surface in the phase space of a single fermion, and as such is a consequence of the semi-classical approximation. An exact treatment reveals that stringy quantum effects wash away the classical singularity.