Exact solutions of heterotic string theory corresponding to four-dimensional magnetic black holes in $N=4$ supergravity are described. The solutions describe the black holes in the throat limit, and consist of a tensor product of an $SU(2)$ WZW orbifold with the linear dilaton vacuum, supersymmetrized to $(1,0)$ world sheet SUSY. One dimension of the $SU(2)$ model is interpreted as a compactified fifth dimension, leading to a four dimensional solution with a Kaluza-Klein gauge field having a magnetic monopole background; this corresponds to a solution in $N=4$ supergravity, since that theory is obtained by dimensional reduction of string theory.

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