A multi-color recording medium responsive to a magnetic or an electrostatic recording field for recording an input signal thereon and having a continuous web of a transparent encapsulating material containing a suspension of highly reflective flakes with these flakes being selectively orientable between two incident light reflecting states. These flakes are distributed in individual micro-capsules with each capsule having a predetermined response to an applied force field to allow orientation of the suspended particles therein from one light reflecting state to another.
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