In [W], Witten considered the indices of elliptic operators on the free loop space CM of a spin manifold M. In particular the index of the formal signature operator on the loop space is exactly the elliptic genus of Landweber-Stong-Ochanine [LS],[O]. Motivated by physics, Witten made the conjectures about the rigidity of these elliptic operators which say that their 51-equivariant indices on M are independent of g G Sl. See [L] for the early history of the subject.