  We report results of a BeppoSAX (0.1-200 keV) observation of the Z-type low
mass X-ray binary GX 17+2. The source was on the so-called Horizontal and
Normal branches. Energy spectra were selected based on the source position in
the X-ray hardness-intensity diagram. The continuum could be fairly well
described by the sum of a ~0.6 keV blackbody, contributing ~10% of the observed
0.1-200 keV flux, and a Comptonized component, resulting from upscattering of
\~1 keV seed photons by an electron cloud with temperature of ~3 keV and
optical depth of ~10. Iron K-line and edge were also present at energies 6.7
and 8.5 keV, respectively. In the spectra of the Horizontal branch a hard tail
was clearly detected at energies above ~30 keV. It could be fit by a power law
of photon index ~2.7, contributing ~8% of the source flux. This component
gradually faded as the source moved towards the Normal branch, where it was no
longer detectable. We discuss the possible origin of this component and the
similarities with the spectra of Atoll sources and black hole X-ray binaries.
