  We report results of spectroscopic observations of V382 Vel (Nova Vel 1999)
carried out at La Silla between 5 and 498 days after maximum light (23 May
1999, V(max) $\sim 2.3\pm 0.1$). The analysis of the photometric and
spectroscopic evolution shows this object to be a {\sl fast nova} belonging to
the Fe II {\sl broad} spectroscopic class. A distance of 1.7 kpc ($\pm 20%$) is
derived from the maximum magnitude vs. rate of decline relationship after
correcting for the small reddening toward the nova, E(B--V)$\lsim 0.10$. From
the measured H$\alpha$ flux and the associated rate of expansion we derive an
approximate mass for the ejected shell, M$_{env}\lsim 10^{-5}$ M$_\odot$. We
have also observed during the early decline a broad, short-lived ($\lsim$ 10
days) feature at 6705-6715 \AA for which several identifications are possible,
one of which is the lithium doublet at 6708 \AA and which could place an
empirical limit on the lithium production that might occur during the outburst
of a {\sl fast nova}. The high luminosity at maximum, M$_v=-8.9$, and the
relatively small height above the galactic plane ($z\lsim 160$pc) suggest that
V382 Vel originated from a massive white dwarf, likely in the mass range
1.1--1.2 M$_\odot$.
