  We explore two possible interpretations for the CDF
$ee\gamma\gamma+E_T\hskip-13pt/\quad$ event in the context of a recently
proposed one-parameter no-scale supergravity model with a light gravitino. We
delineate the region in parameter space consistent with the kinematics of the
event interpreted either as selectron pair-production ($p\bar p\to\tilde
e^+\tilde e^-\,X$, $\tilde e=\tilde e_R,\tilde e_L$) or as chargino
pair-production ($p\bar p\to\chi^+_1\chi^-_1\,X$). In the context of this
model, the selectron interpretation requires $\tilde e=\tilde e_R$ and predicts
comparable rates for $\ell^\pm\gamma\gamma+E_T\hskip-13pt/\quad$, whereas the
chargino interpretation predicts comparable rates for
$(\ell^\pm\ell^{'+}\ell^{'-},\ell^+\ell^-,\ell^+\ell^-jj)\,\gamma\gamma
+E_T\hskip-13pt/\quad$. We also consider the constraints from LEP~1.5 and the
expectations for LEP~2. We point out that one of the acoplanar photon pairs
observed by the OPAL collaboration at LEP~1.5 may be attributable to
supersymmetry in the present model via $e^+e^-\to\chi^0_1\chi^0_1\to
\gamma\gamma+E_T\hskip-13pt/\quad$. We also show how similar future events at
LEP~2 may be used to deduce the neutralino mass.
