  The cosmic-ray energy spectrum above 10^{18.5} eV is reported using the
updated data set of the Akeno Giant Air Shower Array (AGASA) from February 1990
to October 1997. The energy spectrum extends beyond 10^{20} eV and the energy
gap between the highest energy event and the others is being filled up with
recently observed events. The spectral shape suggests the absence of the 2.7 K
cutoff in the energy spectrum or a possible presence of a new component beyond
the 2.7 K cutoff.
