Gray-level data pages enhance the storage capacity of holographic data storage systems. A balanced three gray-scale data page in phase mode produces a homogenized Fourier spectrum which is regarded to be necessary for suitable exploitation of the holographic recording medium. A commercially available transmission type twisted nematic liquid crystal display has been characterized for use as a phase spatial light modulator with phase modulation in the range 0–3 π/2 at 532 nm wavelength, such that it may be used for holographic data storage with binary as well as three gray-level phase-modulated data pages. Experimental results of the phase and amplitude modulation characteristics of the SLM, Fourier plane homogeneity, and recording of phase-modulated binary, three gray-level data pages and their reconstruction with a real-time holographic interferometric method are presented.