NEW MATERIAL:Compounds of formula I (R1 is 2-18C alkyl; C* is asymmetric carbon atom).

EXAMPLE: 4'-Hydroxybiphenyl-4-carboxylic acid-1-trifluoromethylheptyl ester.

USE: An intermediate for synthesis of optically active fluorine-containing ester derivatives extremely useful as a component of a ferroelectric liquid crystal composition.

PREPARATION: 4'-Acetyloxybiphenyl-4-carboxylic chloride of formula II is reacted with a compound of formula III (e.g. 1-trifluoromethyl-1-heptanol) in the presence of an amine-based acid scavenger or an inorganic acid scavenger in a solvent at 10-150°C and the resultant compound of formula IV is treated with an alkylamine in an ether-based solvent at 5-80°C, thus obtaining the objective compound of formula I.