Let F be a field of characteristic zero. In this paper we construct a Finit
e dimensional F-algebra with involution M and we study its *-polynomial ide
ntities; on one hand we determine a generator of the corresponding T-ideal
of the free algebra with involution and on the other we give a complete des
cription of the multilinear *-identities through the representation theory
of the hyperoctahedral group. As an outcome of this study we show that the
*-variety generated by il M, var( M, *) has almost polynomial growth, i.e.,
the sequence of * -codimensions of M cannot be bounded by any polynomial f
unction but any proper *-subvariety of var( M, *)has polynomial growth. If
G(2) is the algebra constructed in Giambruno and Mishchenko (preprint), we
next prove that M and C, are the only two finite dimensional algebras with
involution generating *-varieties with almost polynomial growth. (C) 2000 A
cademic Press.