A new method is developed for estimating photometric redshifts, using reali
stic template SEDs, extending over four decades in wavelength (i.e. from 0.
05 mum to 1 mm). The template SEDs are constructed for four different spect
ral types of galaxies (elliptical, spiral, irregular and starburst), satisf
ying the following characteristics: a) they are normalised to produce the o
bserved colours of galaxies at z similar to 0; b) incorporate the chemo-pho
tometric spectral evolution of galaxies of different types, in agreement wi
th the observations; c) allow treatment of dust contribution and its evolut
ion with redshift, consistent with the spectral evolution models; d) includ
e absorption and re-emission of radiation by dust and hence, realistic esti
mates of the far-infrared radiation; e) include correction for inter-galact
ic absorption by Lyman continuum and Lyman forest. Using these template SED
s, the photometric redshifts are estimated to an accuracy of Deltaz = 0.11.
The simultaneous and self-consistent modelling of both the photometric and
chemical evolution of galaxies and the effect of dust, makes this technique
particularly useful for high redshift galaxies. The effects on the estimat
ed photometric redshifts, due to assumptions in the evolutionary population
synthesis models, are investigated and discussed. Also, the degeneracy in
the predicted photometric redshifts and spectral types are examined, using
a simulated galaxy catalogue.