Oriented polyethylene films, in which stacked lamellae grow perpendicular to the flow direction, can show extraordinary wavelength dispersion of birefringence; i.e., birefringence increases with wavelength. Owing to the periodical change of the refractive indices between the crystalline and amorphous layers along the flow direction, with oriented long lamellae having a high refractive index, the form birefringence has negative values. Furthermore, the refractive indices of the crystalline region show a stronger wavelength dependence than those of the amorphous region, which is responsible for the marked wavelength dispersion in the form birefringence. The combination of negative form birefringence with strong wavelength dispersion and positive orientation birefringence can give extraordinary wavelength dispersion.