  We report on recent developments and results from Lattice Gauge Theory. These
include determinations of the strong coupling constant $\alpha_s$ and the
b-quark mass $M_b$ and an update on the Kaon B parameter $B_K$. Lattice results
for heavy meson decay constants and semileptonic B and D meson decay form
factors are reviewed. The first attempts to study the Isgur-Wise function and
the radiative Penguin decay process, $B \rightarrow K^*\,\gamma$, on the
lattice are discussed. (Review talk presented ICHEP 94, Glasgow, July 1994)
OHSTPY-HEP-T-94-016
