Abstract
A model is proposed to explain simultaneously the backward peaking of the Λ particles in the reaction π+pΛ+K0, the large polarization observed, and the peak of the total cross section. The K* exchange diagram and a resonant state in our channel are considered as the main contributions to the amplitudes. By assuming a resonant p12 state, excellent fits to the angular distribution and polarization are obtained at a pion kinetic energy of 871 MeV and at an incident pion momentum of 1.01-1.05 BeV/c. A fairly good fit is obtained at a pion kinetic energy of 791 MeV. A new estimate for the K*ΛN coupling constant is given.

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