Recently, the L3 collaboration has reported the observation of four events in the reactions e + e − → ll + γγ, l = e, µ, τ , with the invariant photon pair mass near 60 GeV in a data sample collected in the L3 detector corresponding to 950,000 produced Z 0 's. More recently, more data from the other LEP collaborations have become available. In this paper, we use the Monte Carlo genrator YFS3 and our recent exact results on e + e − → ll + γγ to assess the QED expectations for such L3-type high mass photon pair events in e + e − → ll + γγ + n(γ) near the Z 0 resonance.Recently, the L3 collaboration reported [1] the observation of high-mass γγ pairs in the reactions e + e − → ll+γγ in the Z 0 resonance region; in particular, four such events were reported with the invariant γγ mass near 60 GeV from a data sample corresponding to 950,000 produced Z 0 's in the LEP e + e − colliding beam device. More recently, related data from the ALEPH, DELPHI, and OPAL Collaborations [2] have become available, and hence, an immediate issue which needs to be addressed is that of the theoretical expectations from the basic QED processes themselves for such high-mass photon pairs. It is this issue which we shall address in what follows.More specifically, we want to use the YFS Monte Carlo approach [3] to higher-order SU 2L ×U 1 processes introduced by two of us (S.J.and B.F.L.W.) and the recent exact results [4] by the three of us on the processes e + e − → ll+γγ, l = e, µ, τ , in the Z 0 resonance region to assess the probability that the observations in Refs. [1,2] are consistent with higher-order QED processes. This means that the over-all normalization of our calculations in the L3 acceptance must be known even in the presence of the strong initial state radiative effects associated with the Z 0 resonance line shape. Accordingly, we will employ our YFS Monte Carlo event generator [3], which treats e + e − → f f +n(γ), in the Z 0 resonance region with the n(γ) multiple photon radiation for both the initial and final fermion. Here, f is a fundamental SU 2L × U 1 fermion. We should stress that, strictly speaking, f = e is implicit in YFS3. However, in the L3 acceptance for the high mass γγ pairs, kinematical cuts eliminate any large effect from the exchanges in e + e − → e + e − + n(γ) which are not the s-channel Z 0 exchange, so that we can use YFS3 for our analysis at the currently required level of precision. Our recent results in Ref.[4] of course do not have any such qualification in their applicability to the L3-type events for e + e − γγ final states: the full matrix element is available from Ref.[4], and indeed, it will be used to check the validity of our YFS3 s-channel exchange approach to the high γγ mass L3-type e + e − γγ final states, for example.What we will do in this paper then is to set the QED higher order expectations for the L3-type high γγ invariant mass events. We hope that sufficient data will be taken so that the statistical errors on the experimental results analyzed in this paper will cease to be the over-r...