Continued UV monitoring at high spectral resolution utilizing the International Ultraviolet Explorer (IUE) of the IRAS candidate proto-planetary system, Beta Pictoris (Also see Kondo and Bruhweiler 1985; and references cited therein.), has revealed two components to the circumstellar absorption. The first is a stable absorption component at or near the stellar photospheric velocity, possibly arising from gas orbiting in a gaseous disk, while the second component represents strong variable excess absorption sometimes extending up to +200 km s-1. The variability of this second component accounts for most of the spectral variability observed in Beta Pic. Variable circumstellar absorption observed in the resonance lines and UV62 and 63 multiplets of Fe II reveal an episode of mass inflow which lasted over a period of 12 to 13 months (see Fig. 1).