Аннотация:The intense cosmic gamma-ray burst detected by the GRANAT satellite on July 23, 1992 at 20h03m08.377s (UT)is one of the most prominent events that have been recorded by this orbiting observatory since the beginning of its operation in December 1989. This gammaray burst was detected by the PHEBUS, WATCH, and SIGMA instruments over a wide energy range from 8 keV to 24 MeV. This paper analyzes the light curve of the burst in various energy ranges and discusses the results of the study of its energy spectrum derived from the PHEBUS data. A combined analysis of the data obtained by the instruments in the energy range 8 keV - 24 MeV shows the burst energy spectrum to consist of at least four components that evolve differently with time.