UNIVERSAL TEICHMULLER SPACE AND DIFF S1/S1

We point out that the coset space Diff S1/S1 is a dense complex submanifold of the Universal Teichmuller Space S of compact Riemann spaces of genus g greater-than-or-equal-to 1. A holomorphic map of S into the infinite dimensional Segal disk D1 is constructed. This is the Universal analogue of the map of Teichmuller spaces into the Siegel disk provided by the period matrix. The Kahler potential for the general homogenous metric on Diff S1/S1 is computed explicitly using the map into D1. Some applications to string theory are discussed.