The spatial extension and binding energy of excitons in semiconducting conj
ugated polymers are still the subject of a great debate. We address this pr
oblem through first-principles calculations (within DFT-LDA, plane-waves an
d ab-initio pseudopotentials), which allow to include electron-hole correla
tion effects in a fully three-dimensional approach through the density-matr
ix formalism. We show results for the correlated optical spectrum and the e
xciton wavefunctions of single-chain poly(para)phenylene-vinylene (PPV), th
at support the picture of a strongly bound anisotropic exciton localized ov
er similar to 4-5 monomers.