The epsilon -impurity of the K-L wave-function gives rise to a huge CP-viol
ating effect in the decay K-L --> pi (+)pi (-)gamma which is hidden in the
polarization state (Stokes vector) of the photon. One component of the Stok
es vector is CP-odd and T-even, and may be identified with circular polariz
ation. Another component is CP-odd and T-odd ( "oblique polarization") and
reveals itself as a large asymmetry (14%) in the decay K-L --> pi (+)pi (-)
e(+)e(-). Striking time-dependent effects are predicted in the angular dist
ribution of the pi (+)pi (-)e(+)e(-) system emanating from an initial K-0 o
r (K-0) over bar state.