LAUSANNE, SWITZERLAND, JULY 15 -- The International Olympic Committee made what it said was its final proposal to the North Korean Olympic Committee today regarding that country's participation as a second host for the 1988 Olympic Games. The North Koreans initially rejected the offer, but then announced they would study it.

The North Korea delegation added that it felt progress had been made in the negotiations and reiterated its own proposal -- eight sports in the north, as well as participation with South Korea in the opening and closing ceremonies.

"We are always willing to talk. This is not an ultimatum," said IOC President Juan Antonio Samaranch at the end of two days of talks here between the IOC, the North Korean Olympic Committee and the South Korean Olympic Committee.

This fourth round of negotiations began with Samaranch saying Monday he was determined to reach a final agreement here and was willing to extend the talks an extra day, if necessary.

They ended, several hours early, with no agreement, but there was discussion about scheduling another round of talks, perhaps as soon as August.

The IOC's "final offer," as Samaranch put it, was this: North Korea would host archery and table tennis for men and women. It also would be the site of the men's 100-kilometer cycling race, one preliminary round of competition in soccer and women's volleyball.

Women's volleyball and the cycling race in its entirety were the new additions made this week to the IOC's previous "final offer," made 13 months ago.

"Mr. Samaranch says this is a final proposal," said Chin Chung Guk, the vice president of the North Korean delegation. "He also said this last year in June. We will study the offer. We hope the IOC will study ours."

The North Korean proposal has not changed, according to Chin and the group's secretary general, Chang Ung. "We must have all the football {soccer} matches," Chang said today. "But even if we are given that, I cannot guarantee that will be enough."

Clearly, the North Koreans are saying they are a long way from an agreement. Samaranch has set Sept. 17 as a deadline, but not a final one, for receiving responses to the current offer from the two Koreas. Although South Korea did not formally respond to the IOC proposal today, its delegation president, Kim Chong Ha, indicated his country would go along with it.

"We expect to be back here on Sept. 17 for the formal issuing of invitations," he said. "We look forward to that."

That date is exactly one year prior to the opening ceremonies scheduled in Seoul. It is traditional that invitations to the Games are sent to National Olympic Committees one year before the Games begin. The committees then have four months to formally accept the invitation.

"We have asked both North and South Korea for an answer to these proposals within a month," Samaranch said. "I have to be optimistic that we will get a positive answer. North Korea has to realize that this is a very important offer. If they don't accept, they don't accept. The Olympic Games will be held either way."

Samaranch said he was optimistic that other countries would not boycott, even if an agreement with North Korea is not reached. "Many important socialist countries have been taking part in many events in South Korea," he said. "The Asian Games there in 1986 were very successful and included China. We are not saying this is an easy situation, but we are still optimistic."

China was one of the few socialist countries that did not take part in the 1984 Soviet-led boycott of the Los Angeles Olympics.

Samaranch said he would not discuss any details, such as the division of TV monies, the holding of opening and closing ceremonies and passage for participants -- athletes, officials and the press -- between the two countries, until he had received acceptances of the IOC offer from the two Koreas. He refused to set a deadline for ending negotiations.

The scene at the conclusion of the meetings was nearly chaotic. The only meeting at which all three groups were present was the last one and it lasted less than an hour. The South Koreans made a hasty exit at its conclusion; the North Koreans lingered to hear what Samaranch had to say to the press.

After Samaranch had finished, Chin held his own informal press conference, saying repeatedly that while the IOC offer was unacceptable, it would be studied. He also said that he expected the IOC to study his country's proposal, even though Samaranch insisted this offer was the last one.

The major concession in the new offer is women's volleyball. In agreeing to give up women's volleyball, the South Koreans would be giving up an estimated $1.5 million in ticket revenues and giving the North Koreans a sport, for the first time, that will generate major television interest in the West.

The North Koreans have waffled on their response to that offer. Chin and Chang each called the new offer "progress" at one point, but at other times said that, without soccer, there is no way an agreement can be reached. The IOC has said it will not relent on soccer. So it's anybody's guess as to what will happen.

"The only thing that is certain," said Samaranch, "is that the 24th Olympiad will be held in Seoul."