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(Abridged) We present the results from {\it ASCA} observations of NGC 3227along with those from a {\it ROSAT} observation. The 0.6--10 keV continuum isconsistent with a powerlaw with $\Gamma \sim 1.6$, flatter than that typicallyobserved in Seyfert galaxies. Fe $K$-shell emission is observed with an EW andprofile typical of Seyfert 1 galaxies. The {\it ASCA} observations in 1993reveal absorption by a screen $N_{H,z}^{ion} \simeq 3\times10^{21} cm^{-2}}$ ofionized material with $U_X \simeq 0.01$. Joint analysis of the {\it ASCA} and{\it ROSAT} data show an additional screen of neutral material instrinsic toNGC 3227 with $N_{H,z}^{neu} \sim $few$\times10^{20} cm^{-2}}$. NGC 3227exhibits spectral variability both within and between the observations, due toshort-term variability in the continuum emission and longer-term variability inthe absorption. Time-resolved spectroscopy show the continuum steepened by$\Delta \Gamma \simeq 0.1$ during a flare of duration $\sim 10^4$s. The columnincreased by a factor of $\sim10$ by the 1995 epoch, while the continuum isconsistent with that observed in 1993. The 1995 data also show evidence thatthe warm absorber allows $\sim$10% of the nuclear emission to escape withoutattenuation.

The X‐Ray Spectral Variability of the Seyfert Galaxy NGC 3227