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PESTRYAKOV A joint effect of exciton-phonon and exciton-exciton interactions on optical properties of semiconductors is studied. In these substances the exciton density is shown to be a mukivalued function of incident light intensity and the frequency and temperature conditions under which the optical bistability arises are specified. Investigation of nonlinear optical properties of semicondudora with account for the indirect phototransitions exhibits that both multistable optical states and the bistable ones distinguished by a complicated dynamics of the switching may be observed in such systems.