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We carried out inelastic neutron scattering experiments in zero external field on polycrystalline samples of Ho x Y 1-x Ni 211 B 2 C for Ho concentrations of x = 1, 0.85, 0.75, and 0.05 at different temperatures between 1.6 and 50 K. We observed single ion crystal field excitations in the diluted compound (x = 0.05) and report on the modifications of the magnetic excitation spectra due to magnetic order in the other compounds.