The propagation of small-area picosecond pulses of coherent light in r
esonance with the I-2 bound-exciton line in CdS is investigated. The o
bserved strong reshaping of the pulses in form of propagation beats is
consistent with the concomitantly measured hole formation in the puls
e spectrum. By employing transform-limited time-resolved spectroscopy
the complex amplitude of the transmitted optical field can be reconstr
ucted. This allows to identify the beats as amplitude oscillations and
phase changes by pi characteristic of 0 pi pulse formation.