  This paper is concerned with a link between central extensions of N=2
superconformal algebra and a supersymmetric two-component generalization of the
Camassa--Holm equation.
  Deformations of superconformal algebra give rise to two compatible bracket
structures. One of the bracket structures is derived from the central extension
and admits a momentum operator which agrees with the Sobolev norm of a
coadjoint orbit element. The momentum operator induces via Lenard relations a
chain of conserved hamiltonians of the resulting supersymmetric Camassa-Holm
hierarchy.
