  We explore spectral properties of a Two-Component Advective Flow (TCAF)
around a neutron star. We compute the effects of thermal Comptonization of soft
photons emitted from a Keplerian disc and the boundary layer of the neutron
star by the post-shock region of a sub-Keplerian flow, formed due to the
centrifugal barrier. The shock location $X_s$ is also the inner edge of the
Keplerian disc. We compute a series of realistic spectra assuming a set of
electron temperatures of the post-shock region $T_{CE}$, the temperature of the
normal boundary layer (NBOL) $T_{NS}$ of the neutron star and the shock
location $X_s$. These parameters depend on the disc and halo accretion rates
($\dot{m_d}$ and $\dot{m_h}$, respectively) which control the resultant
spectra. We find that the spectrum becomes harder when $\dot{m}_h$ is
increased. The spectrum is controlled strongly by $T_{NS}$ due to its proximity
to the Comptonizing cloud since photons emitted from the NBOL cool down the
post-shock region very effectively. We also show the evidence of spectral
hardening as the inclination angle of the disc is increased.
