This paper presents both a semantic and a computational model for multi-agent belief revision. We show that these two models are equivalent but serve different purposes. The semantic model displays the intuition and construction of the belief revision operation in multi-agent environments, especially in case of just two agents. The logical properties of this model provide strong justifications for it. The computational model enables us to reassess the operation from a computational perspective. A complexity analysis reveals that belief revision between two agents is computationally no more demanding than single agent belief revision.