GRB970402 is the fourth gamma-ray burst detected by BeppoSAX simultaneously in the Gamma Ray Burst Monitor (GRBM) and one of the two Wide Field Cameras (WFCs). A rapid pointing of the BeppoSAX Narrow Field Instruments (NFIs) 8 hours after the GRB led to the identification of an unknown weak X-ray source: 1SAX J1450.1-6920. Its position was approximately at the center of the 3 arcmin error circle derived from the WFC image. Both the Medium Energy (MECS, 2-10 keV) and Low Energy (LECS, 0.1-10 keV) concentrators detected the source. A follow-up observation performed 1.5 days later and lasting 54 ks showed that the source had faded almost to, but not below the detectability threshold. The flux decrease between the two observations was a factor ~= 2.5. 1SAX J1450.1-6920 was the second X-ray afterglow associated with a GRB. Searches promptly started at other wavelengths (optical, IR, radio) did not reveal any transient event within the 3 arcmin error circle.
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