Several diacetylenic lecithins form tubular microstructures (tubules) when their liposomes are cooled through the chain‐melting transition. Recently, the tubules have been metal plated by an electroless technique. This paper reports on the interaction of permalloy coated tubules with electromagnetic radiation. At 10 vol % loading of tubules in an epoxy matrix has a real dielectric constant &egr;’≊50 at a frequency of 9.5 GHz. Simple electrodynamics accounts well for the observed results. Far higher values of &egr;’may be achievable with longer tubules and with improved metal coatings.