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This paper analyses an optical packet switch with partial wavelength conversion on output fibres, meaning that a reduced set of full range tuneable wavelength converters is used for contention resolution. The aim is to find a trade off between cost and performance. A simple analytical model is developed to evaluate packet loss probability and throughput. Numerical results, validated by simulation, are presented to show the influence on performance of different design parameters and the significant cost saving obtained while achieving the same packet loss rate of a fully equipped switch.