Leptonic Decays of $B$- and $D$-Mesons

The present status of lattice calculations of $f_D$, $f_B$ and some mass splittings are discussed. When one includes the uncertainties due to discretization errors, the results do not yet have a sufficient precision to be relevant to phenomenological applications. There are, however, good prospects of cutting down the uncertainties by a factor of 2 or more soon.