This paper describes a transmission system that uses passive optical multiplexing with gold sequences. The system is composed of an optical fiber network and electrical matched filters, and allows for

asynchronous stations each with a gold sequence address of length

. We analyze, theoretically, the error probability of the system and verify the results with experimental data. We further show that, in the synchronous case, the maximal error-free multiplexity is, in practice,

. The features of the System are as follows: 1) The system uses optical multiplexing instead of conventional electrical multiplexing. 2) The number of assignable addresses is large. 3) In the asynchronous case, each station can transmit a code at any time irrespective of other stations\´ timings.