The proposed work is intended to deepen our understanding of a novel class artificially-structured, magnetic layered materials, composed of both amorphous and crystalline components. The main thrusts of the work will be: (a) relationships between fundamental microscopic interactions (anisotropy and exchange) and the magnetic properties and spin correlations, (b) relationships between electronic structure, optical, and magneto- optical properties, and (c) studies of the design of magnetic materials with the desired properties. The types of experiments to be performed include x-ray diffraction, electron microscopy, dc magnetization, ac susceptibility, Mossbauer effect, ellipsometry, polar Kerr effect, and small angle neutron scattering (at NIST). In addition to providing information on procedures for producing different types of bilayered and multi- layered magnetic films the research should increase our understanding of: (a) interfacial magnetism and perpendicular anisotropy, (b) fundamental relationships between electronic structure and principles of alloy design based on chemical considerations, and (c) prospects for new magnetic-optic data storage media based on these systems.