Polarized fluorescence spectroscopy is used to investigate the photophysical behavior of poly(p-phenylphenylenevinylene) (PPPV) in polystyrene matrix in comparison with oligomeric model compounds. For this purpose PPPV is modeled by a chain consisting of a distribution of independent oligomeric segments. Excitation energy transfer (EET) between the segments depends on the wavelength of excitation, not only for transfer along an isolated polymer chain, but; also for intermolecular transfer at high concentration of PPPV. The spatial range of EET, as indicated by fluorescence depolarization, is reduced for excitation at the long wavelength edge of the absorption spectrum ("red-edge-effect").