An adhesive sheet is disclosed including a flexible substrate and an adhesive layer formed on at least one of the main surfaces of the flexible substrate. The adhesive sheet further includes a plurality of microscopic holes connecting the opposing surfaces of the sheet and being generally perpendicular to them. Such adhesive sheet is permeable by air and allows good bubble escapability when the sheet is applied to an article. Sufficient permeability of the sheet to air is achieved with microscopic size holes installed in modest areal densities, hence the appearance and functionality of the film surface are not significantly adversely impacted. One intended use of the subject invention is for tinting films used to reduce light transmission in windows for use in buildings and automobiles. In this application visual appearance of the film is paramount. Another intended application of the subject invention is for antireflective film which is applied to electronic computer displays (flat panel, cathode ray tube) to reduce unwanted ambient light reflection and to improve contrast.