Guided beams of cold neutrons being installed at a number of research reactors may become increasingly available for analytical research. A guided cold beam will provide higher neutron fluence rates and lower background interferences than in present facilities. In an optimized facility, fluence rates of 10/sup 9/ nxcm/sup -2/xs/sup -1/ are obtainable. Focusing a large area beam onto a small target will further increase the neutron intensity. In addition, the shift to lower neutron energy increases the effective cross sections. The absence of fast neutrons and gamma rays permits detectors to be placed near the sample without intolerable background, and thus the efficiency for counting prompt gamma rays can be much higher than in present systems. Measurements made at the hydrogen cold source of the FRJ-2 (DIDO) reactor at the KFA provide a numerical evaluation of the improvements in PGAA with respect to signal-to-background ratios of important elements and matrices. (author) 15 refs.