We used a variety of nonlinear optical ͑NLO͒ spectroscopies for studying the excited states order and primary photoexcitations in disubstituted polyacetylene ͑DPA͒. The NLO spectroscopies include ultrafast pump-probe photomodulation in a broad spectral range of 0.2-2.5 eV, two-photon absorption in the range of 3.2-4.2 eV, and electroabsorption ͑EA͒ in the range of 2.3-4.1 eV. For completeness we also measured the linear-absorption and photoluminescence spectra. We found that the primary photoexcitations in DPA are singlet excitons with three photoinduced absorption ͑PA͒ bands, PA 0 at 0.6 eV, PA 1 at 1 eV, and PA 2 at 1.6 eV, respectively, and a stimulated emission band at ϳ2.5 eV. This is in contrast to other -conjugated polymers where the singlet excitons are characterized by two PA bands and a stimulated emission ͑SE͒ band. We conclude that in addition to the four essential excited states known to determine the NLO spectra of -conjugated polymers, namely, 1A g , 1B u , mA g , and nB u ; in DPA there is another important complex of states at ϳ3.3 eV that contains almost degenerate states with odd and even parity symmetries ͑dubbed here transverse excited state or TES͒ that is probably reminiscent of the 2A g state in unsubstituted trans-polyacetylene, which lies in between the 1B u and mA g of which dipole moment has a strong component perpendicular to the chain direction. In support for this model we found that the depolarization ratio of the EA spectrum drastically changes around the TES from a value of ϳ2 for ប Ͻ 3 eV to ϳ0.5 for ប Ͼ 3.3 eV.