Three different size distributions of Ge quantum dots (>200, 110, and 60 Angstrom) have been synthesized via the ultrasonic mediated reduction of mixtures of chlorogermanes and organochlorogermanes (or organochlorosilanes) by a colloidal sodium/potassium alloy in heptane, followed by annealing in a sealed pressure vessel at 270 degrees C. The quantum dots are characterized by transmission electron microscopy, x-ray powder diffraction, x-ray photoemission, infrared spectroscopy, and Raman spectroscopy. Colloidal suspensions of these quantum dots were prepared and their extinction spectra are measured with ultraviolet/visible (UV/Vis) and near infrared (IR) spectroscopy, in the regime from 0.6 to 5 eV. The optical spectra are correlated with a Mie theory extinction calculation utilizing bulk optical constants. This leads to an assignment of three optical features to the E(1), E(0’), and E(2) direct band gap transitions. The E(0’) transitions exhibit a strong size dependence. The near IR spectra of the largest dots is dominated by E(0) direct gap absorptions. For the smallest dots the near IR spectrum is dominated by the Gamma(25)-->L indirect transitions.