  We consider a $\beta$-Beam facility where $^8$Li and $^8$B ions are
accelerated at $\gamma = 350$, accumulated in a 10 Km storage ring and let
decay, so as to produce intense $\bar \nu_e$ and $\nu_e$ beams. These beams
illuminate two iron detectors located at $L \simeq 2000$ Km and $L \simeq 7000$
Km, respectively. The physics potential of this setup is analysed in full
detail as a function of the flux. We find that, for the highest flux ($10
\times 10^{18}$ ion decays per year per baseline), the sensitivity to
$\theta_{13}$ reaches $\sin^2 2 \theta_{13} \geq 2 \times10^{-4}$; the sign of
the atmospheric mass difference can be identified, regardless of the true
hierarchy, for $\sin^2 2 \theta_{13} \geq 4\times10^{-4}$; and, CP-violation
can be discovered in 70% of the $\delta$-parameter space for $\sin^2 2
\theta_{13} \geq 10^{-3}$, having some sensitivity to CP-violation down to
$\sin^2 2 \theta_{13} \geq 10^{-4}$ for $|\delta| \sim 90^\circ$.
