We report femtosecond transient-absorption (TA) studies of a five-ring
oligomer of poly(para-phenylene vinylene) prepared in two different f
orms: solid-state films and dilute solutions. At high pump fluences, i
n both types of samples. we observe generation of two-exciton states,
which art: detected by the evolution of TA spectra and dynamics with i
ncreasing pump intensity. In solutions, double excitation of molecules
results in the formation of stable biexcitons with enhanced oscillato
r strength, leading to an increased efficiency of the radiative decay
and a superlinear pump dependence of the stimulated emission. In solid
-state samples, the two-exciton states are unstable and decay on the s
ubpicosecond time scale due to ultrafast charge transfer, accompanied
by generation of interchain excitons. [S0163-1829(98)03336-0].