Abstract: The Moore bound constitutes both an upper bound on the order of a graph of maximum degree and diameter and a lower bound on the order of a graph of minimum degree and odd girth . Graphs missing or exceeding the Moore bound by are called {it graphs with defect or excess }, respectively. While {it Moore graphs} (graphs with ) and graphs with defect or excess 1 have been characterized almost completely, graphs with defect or excess 2 represent a wide unexplored area. Graphs with defect (excess) 2 satisfy the equation (), where denotes the adjacency matrix of the graph in question, its order, the matrix whose entries are all 1's, the adjacency matrix of a union of vertex-disjoint cycles, and a polynomial with integer coefficients such that the matrix gives the number of paths of length at most joining each pair of vertices in the graph. In particular, if is the adjacency matrix of a cycle of order we call the corresponding graphs emph{graphs with cyclic defect or excess}; these graphs are the subject of our attention in this paper. We prove the non-existence of infinitely many such graphs. As the highlight of the paper we provide the asymptotic upper bound of for the number of graphs of odd degree and cyclic defect or excess. This bound is in fact quite generous, and as a way of illustration, we show the non-existence of some families of graphs of odd degree and cyclic defect or excess. Actually, we conjecture that, apart from the M"obius ladder on 8 vertices, no non-trivial graph of any degree and cyclic defect or excess exists.
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