Two years of altimetric data from the TOPEX/POSEIDON spacecraft have been used to produce preliminary estimates of the space and time spectra of global variability for both sea surface height and slope. The results are expressed in terms of both degree variances from spherical harmonic expansions and in along-track wavenumbers. Simple analytic approximations both in terms of piece-wise power laws and Fade fractions are provided for comparison with independent measurements and for easy use of the results. A number of uses of such spectra exist, including the possibility of combining the altimetric data with other observations, predictions of spatial coherences, and the estimation of the accuracy of apparent secular trends in sea level.