The differential cross section for the reaction e + e − → γγ has been measured in the CMS energy range between 9.4 and 31.6 GeV. The results are found to be in agreement with the predictions of quantum electrodynamics up to momentum transfers- q 2 of 900 GeV 2 . The data set lower limits of about 40 GeV on QED cut-off parameters. We have searched for the decay υ (9.46) → γγ and obtain an upper limit Γ ( υ → γγ )/ Γ ( υ → all) < 1.4% (95% c.l.).
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