MCD spectrum of the exchange coupled [Co2(μ-H2O)(μ-OAc)2(OAc)2(tmen)2] complex was analyzed. The analysis is based on the assumption that weak exchange interaction does not change the optical properties of the interacting ions and affects the saturation magnetization behavior only. The feature of MCD behavior, namely, the disappearance of some lines with increasing magnetic field and appearance again with the opposite sign, was explained by the overlap of the electronic transitions at different but near wavelengths.