Polarization in the exclusive decay B --> J/PHIK was measured using t
he ARGUS detector at the e+e- storage ring DORIS II. The ratio of the
transverse to the total decay width was found to be GAMMA(T)/GAMMA = 0
.03+/-0.16+/-0.15. This measurement demonstrates that the B0 --> J/PHI
K0 decay channel can be effectively used for CP violation studies.