Summary form only given. One of the unique and perhaps the most attractive features of an optical memory is its ability to store and retrieve information in a bit-parallel format. Recently, we have proposed a new scheme for parallel data storage in TDOM. This scheme was proven to be practical and can be implemented with existing technologies. In a proof-of-principle experiment, four wavelength-multiplexed single-page volume spectral holograms, generated with black-and-white transparencies, were successfully stored in a single spatial location at a speed of approximately 23 /spl mu/s/frame. The experimental results project system's input/output bandwidth to exceed 40 Gbps, two orders of magnitude faster than a semiconductor cache memory. Here, we report on the use of the proposed scheme to demonstrate the storage of a large number of spectral holograms in a Eu/sup 3+/-doped Y/sub 2/SiO/sub 5/ crystal.