When blood is diluted with water, erythrocytes swell and then burst to release haemoglobin molecules, viz. hypotonic hemolysis. The remaining membranes, so-called "ghosts", have transient holes, which are resealed under physiological conditions. About 50 years ago it was reported that ghost suspensions showed peculiar dielectric dispersion below 10 kHz, termed -dispersion, which was not found for intact erythrocyte suspensions. The finding, however, has never been traced because of difficulty in lowfrequency measurement due to electrode polarization (EP) effects, and therefore the origin of the dispersion has not been understood. In this study, the -dispersion has been revealed using a new type of measurement cell capable of reducing the EP effects. The properties of the -dispersion were exactly interpreted by modelling ghosts as a spherical cell with a single hole. The numerical simulation with the cell model provided a linear relation between the characteristic frequency of the -dispersion and the hole radius, thereby the hole radius being determined straightforwardly.