Λ$\overline{\mathrm{\Lambda }}$ production in two-photon interactions

Using the CLEO detector at the Cornell $e^{+}{e}^{-}$ storage ring CESR we study the two-photon production of Λ$\overline{\mathrm{\Lambda }}$, making the first observation of γγ→Λ$\overline{\mathrm{\Lambda }}$. We present the cross section for γγ→Λ$\overline{\mathrm{\Lambda }}$ as a function of the $\gamma \gamma$ center of mass energy and compare it to that predicted by the quark-diquark model.