We report on observations of the X-ray pulsar 4U 1626 - 67 by the LECS instrument on-board BeppoSAX . We confirm the recent ASCA discovery of excess emission near 1 keV ( Angelini et al . 1995 ) . The pulse period of 7.66794 \pm 0.00004 s indicates that the source continues to spin-down . The phase averaged spectrum is well fit by an absorbed power-law of photon index 0.61 \pm 0.02 and a blackbody of temperature 0.33 \pm 0.02 keV , together with an emission feature at 1.05 \pm 0.02 keV . This spectral shape is similar to that observed by ASCA during the spin-down phase , but significantly different from measurements during spin-up . This suggests that the change in spectrum observed by ASCA may be a stable feature during spin-down intervals . The source intensity is a factor \sim 2 lower than observed by ASCA three years earlier , confirming that 4U 1626 - 67 continues to become fainter with time .