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We report the discovery of a bright, point-like x-ray emitter in the supernova remnant N49 and that the source of this emission is within the 0.09 arcmin$^2$ error box of the repeating gamma ray burst source GBS 0525-66, the source of the 5 March 1979 and other bursts. The ROSAT HRI observed N49 for $\sim$2x10$^4$ s in 1993 April, and the resultant image clearly shows emission consistent with a point source in addition to a weaker ridge of emission within the gamma ray burst error box. A preliminary estimate of the position of the point source puts it at 5$^h$26$^m$0.7$^s$, 66$\deg$04'35" (J2000), and a preliminary estimate of the strength is 5x10$^{-13}$ ergs cm$^{-2}$ s$^{-1}$, consistent with the Einstein upper limits to flux within the initial error box. We will discuss the implications of this discovery with respect to a neutron star origin for this unique gamma ray burster.
