Is there a 1998bw-like supernova in the afterglow of gamma ray burst 011121?

We use the very simple and successful Cannonball Model (CB) of gamma ray bursts (GRBs) and their afterglows (AGs) to analyze the observations of the strongly extinct optical AG of the relatively nearby GRB 011121, which were made with ground-based telescopes at early times, and with the HST at later time. We show that GRB 011121 was indeed associated with a 1998bw-like supernova at the GRB's redshift, as we had specifically predicted for this GRB before the supernova could be observed.