  We interpret the KARMEN time anomaly as being due to the production of a
(dominantly bino) neutralino with mass 33.9 MeV, which is the lightest
supersymmetric particle but decays into 3 leptons through the violation of
R-parity. For independent gaugino masses M_1 and M_2 we find regions in the
(M_1, M_2, mu, tan beta) parameter space where such a light neutralino is
consistent with all experiments. Future tests of this hypothesis are outlined.
