  We demonstrate that in multilayered superconductor-ferromagnet structures a
non-collinear alignment of the magnetizations of different ferromagnetic layers
generates a triplet superconducting condensate which is odd in frequency. This
triplet condensate coexists in the superconductors with the conventional
singlet one but decays very slowly in the ferromagnet, which should lead to a
large Josephson effect between the superconductors separated by the
ferromagnet. Depending on the mutual direction of the ferromagnetic moments the
Josephson coupling can be both of 0 and $\pi $ type.
