PKS 0537-441, a bright gamma ray emitting blazar was observed at radio, optical, UV and X-ray frequencies during various EGRET paintings, often quasi-simultaneously. In 1995 the object was found in an intense emission state at all wavelengths. BeppoSAX observations made in 1998, non-simultaneously with exposures at other frequencies, allow us to characterize precisely the spectral shape of the high energy blazer component, which we attribute to inverse Compton scatter in The optical-to-gamma-ray spectral energy distributions at the different epochs show that the gamma-ray luminosity dominates the barometric output. This, together with the presence of optical and UV line emission, suggests that, besides the synchrotron self-Compton mechanism, the Compton upscattering of photons external to the jet (e.g., in the broad line region) may have a significant role for high energy radiation. The multiwavelength variability can be reproduced by changes of the plasma bulk Lorentz factor. The spectrum secured by ICE in 1995 appears to be partially absorbed shortward of approximately 1700 Angstroms. However, this signature is not detected in the HST spectrum taker during a lower state of the source. The presence of intervening absorbers is not supported by optical imaging and spectroscopy of the field.
