The optical properties of porous silicon ͑PSi͒ photoetched in aqueous HF/ I 2 solution are investigated using spectroellipsomety ͑SE͒, electroreflectance ͑ER͒, photovoltage ͑PV͒, photoconductivity ͑PC͒, photoluminescence ͑PL͒, and Fourier transform infrared ͑FTIR͒ spectroscopy. The PSi layers were formed in a HF/ I 2 solution on n-Si substrates under Xe lamp illumination. The SE ͑E͒ and related data show an interference oscillation in the region below E ϳ 3 eV, where the PSi material is nearly transparent. The PV and PC spectra reveal three individual peaks A, B, and C at ϳ1.2, ϳ1.7, and ϳ2.5 eV, respectively, arising from the PSi layer itself. Peak C is also observed in the ER spectrum, together with a broadened E 1 peak at ϳ3.4 eV. Change in the fundamental-absorption-edge nature ͑E g X ͒ from the indirect gap in crystalline silicon to the quasidirect gap in PSi is found in the PV and PC spectra. The PL spectrum shows a broad peak at ϳ2.0 eV͑B͒. Peaks A, B, and C observed in the PSi layer may originate from the nondirect optical transitions at and above the lowest absorption edges E g X ͑A and B͒ and E g L ͑C͒. The quantum-mechanical size effect, i.e., a relaxation of the momentum conservation, makes possible the nondirect or quasidirect transitions at and above E g X and E g L in porous materials. The FTIR data support that the PL emission is due to the surface-sensitive quantum confinement effect.