Circular null geodesic orbits, in extremal Reissner-Nordstrom spacetimes, are examined with regard to their stability, and compared with similar orbits in the near-extremal situation. Extremization of the effective potential for null circular orbits shows the existence of a stable circular geodesic in the extremal spacetime, precisely {\it on} the event horizon, which coincides with its null geodesic generator. Such an orbit also emerges as a global minimum of the effective potential for circular {\it timelike} orbits. This type of geodesic is of course absent in the corresponding near-extremal spacetime, as we show here, testifying to differences between the extremal limit of a generic RN spacetime and the exactly extremal geometry.

13 Pages Latex 2e, no figures; title of paper, abstract and contents modified substantively following critique of anonymous referee