  A theory of crossed Andreev reflection in structures consisting of a
superconductor with two ferromagnetic leads is presented. The electric current
due to the crossed Andreev reflection strongly depends on the relative
orientation of the magnetization of two ferromagnetic leads. It is shown that
the dependence of the electric current and the magnetoresistance on the
distance between two ferromagnetic leads is understood by considering the
interference between the wave functions in ferromagnets. The current and the
magnetoresistance are calculated as functions of the exchange field and the
height of the interfacial barriers.
