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Synthetic variable ratio (SVR) method was first introduced to fuse panchromatic (PAN) image and multi-spectral (MS) image by Muechika et al. in 1993, and was improved by Zhang Y. in 1999 and 2001 respectively. As for Muechika SVR method, it isn't suitable for fusing PAN and MS which cover large area. And for Zhang Y. SVR(ZY-SVR) method, on the one hand it needs to select a great number of pixels of different land coverage classes to conduct multiple regression analysis and thus it seems greatly empirical; on the other hand the coefficients obtained through regression lack physical meanings. This paper puts forward a new method called LAB-SRV which introduces the sensor spectral response into SVR method using the CIELab color space. Several experiments done in this paper indicate that this method can sharpen multi-spectral MS images without changing their spectral characters very much and have an advantage over ZY-SVR method with PAN and MS of IKONOS and QuickBird.