This valuepak includes 1 multigrade IV 25 pack of paper & 1 Roll of HP-5 B&W Film. Multigrade IV is premium quality variable contrast paper. It produces prints with brilliant whites and deep rich blacks. It offers superior tonal rendition throughout the contrast range, particularly in the highlights. HP-5 is a fast, versatile panchromatic film for available light or action photography. It also has a very high image quality and excellent pushability.