Milan Novy, the Czechoslovakian hockey star who signed with the Washington Capitals last August, was released by the team yesterday, along with defenseman-"enforcer" Randy Holt and winger Ted Bulley.

General Manager David Poile said the team simply did not renew the contracts of those players. Both Holt and Bulley became free agents at the end of the season, and Novy had a one-year contract, with an option for renewal.

Poile said of the move, "In Novy's case, he's 32 years of age and we have younger players coming along. In Holt's situation, we signed a European player (Peter Andersson) in his place, and Bulley played in only half the games.

"He's looking for a better situation."

Neither Novy, who has already returned to Czechoslovakia, nor Holt could be reached last night.

Bulley said he had not expected the Capitals to re-sign him. "When the season ended, I saw David about it, and I figured the way the year went, they really didn't want to use me," he said by telephone from his Ottawa home. Acquired from Chicago a year ago, Bulley played in 39 games, with four goals and nine assists.

"Roger Crozier (former acting general manager) was the one who brought me in," Bulley said. "And when David took over, things changed." Bulley plans to continue playing hockey if some team will sign him in next month's free agent draft.

Holt was frequently paired with team captain Rod Langway on defense, but his biggest distinction was collecting penalty minutes for the Capitals.

Novy, whose play for the Czech national team had made him one of Europe's top players, had a less than spectacular showing for the Capitals last season, due in part to his difficulty in adjusting to the NHL's longer schedule and more vigorous play.