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A new method is proposed to estimate the polarizability (αe) of a molecule in an excited state using solvatochromic shift measurements and McRae's equation. In the earlier methods the contribution due to polarizability was not considered. In view of this, the proposed method is also expected to give a better estimation of excited state electric dipole moment (μe) and the (θ) angle between excited and ground state electric dipole moments, μe and μg apart from giving values of polarizability of the molecules in the excited state. This method has been applied in the case of the La band of p-nitro aniline and the results for all the parameters are found to be satisfactory and of right order in comparison with that reported in literature. [ABSTRACT FROM AUTHOR]