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This invention relates to a self-expanding intraluminal com posite prosthesis comprised of a rigid reinforcing component and sealing component. The prosthesis may be fabricated as either a straight or bifurcated tubular structure and is appli cable to the treatment of any bodily passage including, but not limited to, vascular applications, eg, aneurysms, arte riovenous? stulas. as well as stenotic regions of the periph eral circulation which have been percutaneously dilated but are at high risk for restenosis. The major atnibutes of this prosthesis can include the use of a unique multilayered biaxial braid which thereby creates a homogeneously blended composite with isotropic deformation and expan sion characteristics and an associated high contraction ratio. The use of multiple layers allows for the fabrication of a device of varied porosity while retaining adequate tensile or mechanical wall strength.