Optical light curve in the $r$ band, as a function of time starting at UT May 8.904, from the Palomar data listed in Table 1 (solid squares). The data have been corrected for the Galactic extinction and converted to specific fluxes as described in the text. These numbers supersede our preliminary measurements \refto{djo97b}. We also include a measurement \refto{mig97} of $R_C = 19.78 \pm 0.05$ mag (in the Kron-Cousins system) at the mean epoch of May 10.85, close to the peak of the light curve (open circle). After correcting for the extinction and using the $R_C$ zero-point calibration \refto{bes90}, we derive $F_\nu = 45.9~\mu$Jy at the effective wavelength $\lambda_{eff} \approx 641$ nm, close to the center of the $r$ band. We do not use other magnitudes reported in the IAU Circulars so far, due to the lack of information about the photometric systems used, photometric conditions, etc. The decline in brightness seen after May 10 is consistent with a power--law $F_\nu \sim t^{-1}$, with time counting from the GRB event, shown as the dotted line drawn through our May 11 data point.