We have experimentally investigated the possibility of increased elect
ron reflectivity induced by an insulating NiO layer that is used to ex
change bias a metallic spin-valve. For this purpose Ni80Fe20/Cu/Ni80Fe
20 and Ni66Fe16Co18/CU/Co90Fe10 spin-valves were grown and subsequentl
y covered by insulating NiO or by metallic FeMn, Zn all cases the gian
t magnetoresistance of the NiO spin-valves is systematically larger up
on a variation of the exchange-biased ferromagnetic layer thickness, a
lso after correcting the data for the conductivity of FeMn which we ha
ve determined from a separately grown series of samples with variable
FeMn thickness. The increased giant magnetoresistance ratios can be qu
alitatively understood on the basis of a semiclassical calculation in
which (partial) specular reflectivity at the NiO interface has been in
cluded.