The PBS is suitable for use in projection systems and displays. A polarizing beam splitter (PBS) contains at least one prism having at least one major surface and having a refractive index of at least about 1.6 and the birefringent film disposed on the major surface of the prism. The present invention provides a unique birefringent multi-layer film having at least a first material and a second material. After uniaxial stretching, the film exhibits a refractive index difference of less than about 0.15 units in the stretched direction.
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