The effects of metal ion chelation to the 2,2＇-bipyridine (bpy) groups on the photophysics and exciton dynamics of two conjugated polymers 1 and 2 in solution are investigated. The structures of polymers 1 and 2 have 2,2＇-bipyridyl-5-vinylene units that alternate with one and three 2,5-bis(n-decyloxy)-1,4-phenylenevinylene monomer units, respectively. The photophysics and exciton dynamics of metalated polymers 1 and 2 are compared to those of the metal-free polymers (Chen ct al. J. Phys. Chem. A 1999, 103, 4341-4351). The origins of ionochromic effects due the metal ion chelation were studied using both steady-state and transient optical spectroscopy, and the results indicate that both conformational flattening and participation of Jr electrons from the metal in the pi-conjugation of the polymer backbone play important roles in metal ion binding induced red shifts in absorption and photoluminescence spectra. The photoluminescence properties of the metalated polymers are determined by the metal ion electronic structures, where the closed shell Zn2+-bound polymer 2 has an increased photolumincscence quantum yield and the corresponding open shell Ni2+- or Fe3+-bound polymers have quenched photoluminesccnce due to spin-orbit coupling. The dual character of metalated polymer 2 as a conjugated polymer and as a metal-bpy complex is discussed. In addition, the structures of metal ion binding sites are studied via X-ray absorption fine structure (XAFS) and are related to the photophysical properties of the metalated polymers.