  The general analysis of lepton polarization asymmetries in rare B -> K^* l^+
l^- decay is investigated. Using the most general, model independent effective
Hamiltonian, the general expressions of the longitudinal, normal and
transversal polarization asymmetries for l^- and l^+ and combinations of them
are presented. The dependence of lepton polarizations and their combinations on
new Wilson coefficients are studied in detail. Our analysis shows that the
lepton polarization asymmetries are very sensitive to the scalar and tensor
type interactions, which will be very useful in looking for new physics beyond
the standard model.
