A novel class of polymer has been prepared by reaction of a copolyimide containing carboxylic acid groups, and a cobalt phthalocyanine peripherally substituted with a reactive hydroxyl group. The incorporation of the phthalocyanine ring was achieved by esterification of the carboxylic acid groups of the polyimide with the free hydroxyl group of the phthalocyanine. In this work, a limited number of phthalocyanine rings have been introduced in order to avoid extensive modification of the copolyimide properties. The extent of modification (percentage of esterified carboxylic groups) was estimated to be about 18%. The resulting material showed good thermal stability and a high glass transition temperature (above 300 degrees C). The incorporation of the bulky phthalocyanine ring brought about a light decrease of thermal properties, relative to those of the initial polyimide. The presence of phthalocyanine was confirmed by the absorption band at 670 nm showing in the visible region for the modified polyimide. The novel copolyimide also exhibited a remarkable emission peak at 430 nm, when excited at 350 nm, corresponding to the emission of the cobalt phthalocyanine moiety.