  The full spectrum of two interacting electrons in a disordered mesoscopic
one--dimensional ring threaded by a magnetic flux is calculated numerically.
For ring sizes far exceeding the one--particle localization length $L_1$ we
find several $h/2e$--periodic states whose eigenfunctions exhibit a pairing
effect. This represents the first direct observation of interaction--assisted
coherent pair propagation, the pair being delocalized on the scale of the whole
ring.
