This paper addresses the extension of a physical scattering model to multi-polarized transmissions. The initial approach is based on a geometrical distribution of obstacles derived from known power-delay profiles. In this paper, each scattering process is described by a matrix reflection coefficient corresponding to dual-polarization states. Ultimately, the model allows one to simulate the effects of the range on capacity, branch power-ratio and cross-polar discrimination. Simulation results are compared with existing measurements at 2.5 GHz. The proposed model is then used to investigate various dual-polarization 2*2 MIMO schemes, such 0 degrees /90 degrees or 45 degrees , as well as to optimize the design of multi-polarized MIMO schemes.