An optical compensation film wherein: (i) molecules of a liquid crystalline compound are oriented in a manner that an average tilt angle of the compounds is not more than 4 degrees; (ii) the orientation is fixed; (iii) Ro(.lamda.) values are: at wavelength 589 nm: 40-130 nm; at 600 nm: 35-125 nm; and at 630 nm: 35-120 nm; (iv) Rt(.lamda.) value are 120-400 400 nm in .lamda. range of 500-630 nm; and (v) Values of Ro(589), Ro(600) and Ro(630) satisfy the following formulae: 1.0