Femtosecond　pump-probe　spectroscopy　is　used　to　measure　the　excited　state　absorption　dynamics　in　triplet　excitons　generated　by　continuous　wave　excitation　of　a　conjugated　polymer.　Saturation　of　the　T-1-T-n　transition　is　observed,　allowing　a　cross-section　of　2.0　x　10(-16)　cm(2)　to　be　established.　Relaxation　to　T-1　occurs　with　a　300　fs　timescale,　but　20%　of　T-n　states　dissociate　into　charges.