  The recent discoveries of X-ray and optical counterparts for GRBs, and a
possible discovery of a host galaxy, implies that a direct measurement of the
red-shift of some GRBs host galaxies is eminent. We discuss the implications of
such measurements. They could enable us to determine the GRBs luminosity
distribution, the variation of the rate of GRBs with cosmic time, and even,
under favorable circumstances, to estimate $\Omega$. Using GRB970508 alone, and
assuming standard candles, we constrain the intrinsic GRB evolution to
$\rho(z)=(1+z)^{-0.5\pm0.7}$.
