A special kind of atomic beam splitter using a four-level atomic system in combination with polarized light fields is demonstrated. These specific atom optical elements are used to operate an atom interferometer where the beam-splitting mechanism acts selectively on specific paths only and therefore allows for several different interferometer geometries. Based on a Ramsey-Bordé configuration, the experimental data show considerably better accuracy and a contrast enhanced by 65% compared to the two-level interferometer. Our concept appears to be especially interesting in the context of metrological aspects in matter-wave interferometry. © 1998 The American Physical Society.