  We have performed joint ASCA + ROSAT PSPC spectral fitting on the inner 5' of
the bulge of M31. We find that single component spectral models provide an
inadequate fit to the spectrum, in contrast to previous studies by Einstein and
Ginga. Although the 2-10 keV spectrum can be fit adequately with a
bremsstrahlung model with kT = 7.4 +/- 0.3 keV, an additional soft component
with kT = 0.38 +/- 0.03 keV is required to fit the spectrum below 2 keV. This
soft component comprises 38% +/- 6% of the total emission in the 0.1-2.0 keV
band, and possibly more depending on the absorption value used in the fit.
Since previous spatial studies of the bulge of M31 indicate that < 25% of the
X-ray emission from the bulge in this band is from a diffuse gaseous component,
this implies that stellar sources, namely low-mass X-ray binaries (LMXBs), are
responsible for some if not all of the soft component. The spectral properties
of M31 are very similar to those of the X-ray faint early-type galaxy NGC4382.
This supports the claim that the unexplained soft X-ray emission seen
previously in these galaxies also emanates from LMXBs.
