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From The Collaborative International Dictionary of English v.0.48:
Octillion \Oc*til"lion\, n. [L. octo eight + -illion, as in E. million: cf. F. octillion.] According to the French method of numeration (which method is followed also in the United States) the number expressed by a unit with twenty-seven ciphers annexed. According to the English method, the number expressed by a unit with forty-eight ciphers annexed. See Numeration. [1913 Webster] Octo