Abstract: We present energy filtered holography experiments on a thin foil of Al. By propagating the reduced density matrix of the probe electron through the microscope, we quantitatively predict the fringe contrast as a function of energy loss. Fringe contrast simulations include the effect of Fresnel fringes created at the edges of the defocused biprism, the effect of partial coherence in combination with inelastic scattering, and the effect of a finite energy distribution of the incoming beam. (c) 2007 Elsevier B.V. All rights reserved.