In this paper, glass surface-mat reinforced epoxy(G.S.R.E.) is developed, It is assured that the material(G.S.R.E.) can be used as photoelastic model material and it satisfy with the required properties of photoelastic model material. Therefore, the material can be used as model material of transparent photoelastic experiment when we analyze the stress distributions of transversely isotropic material by photoelastic experiment. When we use G.S.R.E. as photoelastic experiment model material, we had better use the G.S.R.E. which fiber volume ratio is less than 0.7% in the high temperature(stress freezing method) and than 1.74% in the room temperature. Relationships between stress fringe value and elastic modulus in transversely isotropic material are developed in this paper, it is assured by experiment that they are established in the room temperature or in the high temperature. Therefore we can obtain stress fringe value or elastic modulus from the relationships between stress fringe value and elastic modulus.