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Ac susceptibility measurements were performed on discontinuous magnetic multi-layers [Co80Fe20 (t)/Al2O3 (3 nm)] 10, t = 0.9 and 1.0 nm, by Superconducting Quantum Interference Device (SQUID) magnetometry. The CoFe forms nearly spherical ferromagnetic single-domain nanoparticles in the diamagnetic Al2O3 matrix. Due to dipolar interactions and random distribution of anisotropy axes the system exhibits a spin-glass phase. We measured the ac susceptibility as a function of temperature 20 ≤ T ≤ 100 K at different dc fi elds and as a function of frequency 0.01 ≤ f ≤ 1000 Hz. The spectral data were successfully analyzed by use of the phenomenological Cole–Cole model, giving a power-law temperature dependence of the characteristic relaxation time τc and a high value for the polydispersivity exponent, α ≈ 0.8, typical of spin glass systems.