  We analyze archival ROSAT HRI, ROSAT PSPC, and ASCA data of the X-ray faint
early-type galaxy NGC4697. The joint ROSAT PSPC + ASCA spectrum is fit by a
two-component thermal model, a MEKAL model with kT_{MEKAL}=0.26^{+0.04}_{-0.03}
keV with low metallicity and a bremsstrahlung model with
kT_{BREM}=5.2^{+3.0}_{-1.6} keV. A similar model was found to fit the spectra
of another faint early-type galaxy (NGC4382) and the bulge of M31. We interpret
this soft emission as a combination of emission from a soft component of low
mass X-ray binaries (LMXBs) and from a low temperature interstellar medium,
although the relative contributions of the two components could not be
determined. Twelve point sources were identified within 4' of NGC4697, of which
11 are most likely LMXBs associated with the galaxy. The soft X-ray colors of
four of the LMXBs in NGC4697 support the claim that LMXBs possess a soft
spectral component. Finally, we present a simulation of what we believe the
Chandra data of NGC4697 will look like.
