1E 1048.5+5421: A New 114 Minute AM Herculis Binary

The discovery of a new AM Herculis binary system, found as a serendipitous Einstein X-ray source, is described. Like the previously discovered mass-transfer binaries involving synchronously rotating magnetic white-dwarf primaries, the system exhibits strong circular polarization, X-ray and optical continuum variations, and optical emission lines, all of which seem to be modulated with these binary periods of 114.5 + or - 0.2 minutes. Although all data are not concurrent, the new system appears to possess the highest ratio of F(x)/F(opt) yet found for an AM Her system. The surprising accumulation of AM Her variables with periods near 114 minute is commented on.