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We update the analysis of the precision electroweak tests in terms of 4epsilon parameters, $\epsilon_{1,2,3,b}$, to obtain more accurate experimentalvalues of them by taking into account the new LEP data released at the 28thICHEP (1996, Poland). We also compute $\epsilon_1$ and $\epsilon_b$ in thecontext of the no-scale $SU(5)\times U(1)$ supergravity model to obtain theupdated constraints by imposing the correlated constraints in terms of theexperimental ellipses in the $\epsilon_1-\epsilon_b$ plane and also by imposingthe new bound on the lightest chargino mass, $m_{\chi^\pm_1}\gtrsim 79$ $ GeV$.Upon imposing these new experimental results, we find that the situations inthe no-scale model are much more favorable than those in the standard model,and if $m_t\gtrsim 170$ $ GeV$, then the allowed regions at the 95% C.~L. inthe no-scale model are $\tan\beta\gtrsim 4$ and $m_{\chi^\pm_1}\lesssim 120(82)$ $ GeV$ for $\mu>0 (\mu<0)$, which are in fact much more stringent than inour previous analysis. Therefore, assuming that $m_t\gtrsim 170$ $ GeV$, if thelightest chargino mass bound were to be pushed up only by a few GeV, the signon the Higgs mixing term $\mu$ in the no-scale model could well be determinedfrom the $\epsilon_1-\epsilon_b$ constraint to be positive at the 95% C.~L. Atany rate, better accuracy in the measured $m_t$ from the Tevatron in the nearfuture combined with the LEP data is most likely to provide a decisive test ofthe no-scale $SU(5)\times U(1)$ supergravity model.Comment: 15 pages, REVTEX, 1 figure (not included but available as a ps file  from gtpark@phenom.yonsei.ac.kr

New Precision Electroweak Tests in Supergravity Models