We discuss ROSAT, ASCA, {it Beppo}SAX and optical observations of the young active star Gl 355. During the ROSAT observation a strong flare was detected with a peak flux more than an order of magnitude larger than the quiescent level. Spectral analysis of the data allows us to study the temperature and emission measure distribution, and the coronal metal abundance, for the quiescent phase and, in the case of ROSAT, also during the evolution of the flare. We have modeled the flare and derived a loop semi--length of the order of $sim 1.5$ stellar radii. ROSAT, ASCA and {it Beppo}SAX data suggest that the coronal abundance of Gl 355 is subsolar, in the range $0.1 div 0.3 Z/Z_odot$. A preliminary analysis of optical spectra allows us to compare the photospheric and coronal metal abundances.
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