This article explains the different formats that use the PSF file extension. It also explains how to open each type, and the options you have for converting one format to another.
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A file with the PSF file extension is most likely an Adobe Photoshop proof settings file. It stores specific color preferences so you can see how an image will look before you print it.
PhotoStudio images use the same file extension. They can contain text, layers, and shapes.
Other programs use the same file extension for a GPS support file, AutoCAD PostScript pattern file, Portable Sound Format file, PID script, SPI Proxy output file, or an HP-UX product specification file.