Dielectric methods (FDDS and TDS) were used to study collective and molecular processes of two ferroelectric phases of 4’-[(S,S)-2,3-epoxyhexyloxy] phenyl 4-decyloxy benzoate (EHPDB) which shows the following phase sequence : Is-N*-SmC*-S-3-Cr. In our previous study of this material it has been shown that the S-3 phase is also a ferroelectric one. In this study new dielectric measurements have been done using gold coated cells which allowed to observe the soft mode in the N*-SmC* pretransition region. The Goldstone mode was observed for the SmC* and S-3 phases, however, the S-3 phase appears to be a metastable one. The measurements of spontaneous polarization confirm this, too. Spontaneous polarization as well as critical frequencies and dielectric increments are presented for all processes observed and discussed in terms of the mean-field model.