  We present new age and distance determinations for the Galactic Globular
Clusters M55 and M5, using the luminosity function method (Jimenez & Padoan
1996, Padoan & Jimenez 1997). We find an age of $11.8 \pm 1.5$ Gyr for M55 and
$11.1 \pm 0.7$ Gyr for M5. This confirms previous results (Jimenez et al. 1996,
Sandquist et al. 1996) and allows to conclude that the oldest stars in the
Universe are not older than 14 Gyr. We also find $m-M=14.13 \pm 0.11$ for M55,
and $m-M=14.49 \pm 0.06$ for M5. These values agree with the ones obtained
using the tip of the red giant branch (Jimenez et al. 1996) and the sub-dwarf
fitting method (Sandquist et al. 1996).
