We report on the spectroscopic and hole burning properties of free-base naphtophthalocyanine with and without 1-chloranthracene in polymer host. These materials exhibit a strong 0-0 absorption band in the region 800 nm matching the wavelength range of most semiconductor and Ti:Sapphire lasers. The materials studied feature two persistent hole burning photochemical mechanisms, i.e. one-photon proton tautomerization, and two-photon-gated hole burning likely due to donor-acceptor electron transfer. The last mechanism includes the long living intermediate state. The hole width at 1.5 K is about 300-400 MHz depending on the hole burning conditions, while the inhomogeneous width is about 10 7 MHz. Holographic storage is an important potential application of these materials. We demonstrated 10 plane wave holograms angularly multiplexed at one frequency channel in a spectral hole burning medium. It was shown that the M=# is still a valid system metric and the measured M=# in one frequency channel is about 0.01. r
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