Estimating the spectral reflectance of a printed patch is an important task in the printing industry for several purposes such as ICC profiling and maintaining color consistency. However, equipment for accurate spectral reflectance estimation (spectrophotometers) is expensive. In this work we suggest to use known characterization of the printer output in order to achieve accurate estimation of spectral reflectance from only three-channel measurement, such as provided by the standard status T densitometers. The mean estimation error we achieve on known substrates is 0. 13 Delta E. Further results indicate an estimation error below 1 Delta E for a set of unknown substrates.