  We report on the {\it Chandra} observations of the elliptical galaxy NGC
1399, concentrating on the X-ray sources identified with globular clusters
(GCs). A large fraction of the 2-10 keV X-ray emission in the $8' \times 8'$
{\it Chandra} image is resolved into point sources with luminosities $\ge 5
\times 10^{37}$ \ergsec. These sources are most likely Low Mass X-ray Binaries
(LMXBs). In a region imaged by {\it HST} about 70% of the X-ray sources are
located within GCs. This association suggests that in giant elliptical galaxies
luminous X-ray binaries preferentially form in GCs. Many of the GC sources have
super-Eddington luminosities (for an accreting neutron star) and their average
luminosity is higher than the non-GC sources. The X-ray spectral properties of
both GC and non-GC sources are similar to those of LMXBs in our Galaxy. Two of
the brightest sources, one of which is in a GC, have an ultra-soft spectrum,
similar to that seen in the high state of black hole candidates. The
``apparent'' super-Eddington luminosity in many cases may be due to multiple
LMXB systems within individual GCs, but with some of the most extremely
luminous systems containing massive black holes.

Astrophysics