  We present new observational data for IRAS 09371+1212, the Frosty Leo Nebula,
in the form of infrared spectra from 2.2-2.5 microns which reveal photopheric
bands of CO. The ^12CO/^13CO band ratio determined is similar to those
exhibited by evolved K giant stars, and supports the proposal that the object
is highly evolved. The equivalent width of the CO bands implies, however, that
the spectral type lies in the range G5III to K0III, somewhat earlier than
K7III, as derived from colours and optical spectra. The smaller equivalent
widths of the CO bands may reflect a low metal abundance which could fit well
with the considerable height of the source above the galactic plane (>0.9kpc).
