We have obtained a sample of 20 465 (2201) events in the channel pp→ ( Λ 0 K + )p at 50 (30) GeV/ c incident momentum with Geneva-Lausanne spectrometer at the CERN SPS. In this analysis we investigate: 1. (i) the production of N ∗ (I = 1 2 ) states in the mass region 1.6 ⩽ M ( Λ 0 K + ) ⩽ 2.6 GeV and momentum transfer 0.06 ⩽ | t | 1.0 (GeV/ c ) 2 , by studing the amplitudes and phases from a moment analysis of the decay angular distribution; 2. (ii) the contribution of the K-exchange Deck model for M ( Λ 0 K + < 2.22 GeV; 3. (iii) the double Regge exchange phenomenology for s Λ 0 K + > 5 GeV 2 and s Λ 0 K + p > 5 GeV 2 .
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