Excitons in semiconductors can be spin-polarized under optical selecti
ve excitation by polarized radiation (optical orientation) or due to s
pin relaxation and sublevel mixing in an external magnetic field. The
paper deals with optical phenomena where spin-polarized excitons gener
ated in semiconductor nanostructures play an important role. Firstly,
both optical orientation and optical alignment of excitons in type II
GaAs/AlAs superlattices are considered and effects of the anisotropic
electron-hole exchange interaction and external magnetic field on the
photoluminescence polarization are analyzed. Secondly, magnetic-field-
induced anticrossing of excitonic sublevels is discussed taking into a
ccount the axial and anisotropic exchange splittings, spin-relaxation
and difference in the lifetimes of radiative and non-radiative exciton
states. Next, the localized and bound excitons are shown to act as in
termediate states in resonant Raman scattering by spin flips of holes
bound to accepters in GaAa/AlGaAs multiple quantum wells. The analysis
of polarized Raman spectra permits to make decisive conclusions conce
rning microscopic mechanisms of the observed scattering prosesses. Fin
ally, the doubly-resonant 2a-1s LO-assisted secondary emission observe
d in CdTe/CdMnTe quantnm-well structures is described as a process wit
h spin-polarized hot 1s-excitons acting as real intermediate states,