A new multiplexing schedule is derived for multiplexing holograms in photorefractive polymers which do not exhibit mono-exponential recording behavior. An M-number (M/#) of 0.3 was measured experimentally by recording 20 holograms of roughly equal strength in a single location of 125-μm-thick material using peristrophic multiplexing. The effects of hologram dark-decay on the time-evolution of the M/# and the relative strengths of individual holograms is investigated.