The invention concerns a liquid crystalline polymer which is optically anisotropic in the melt state and which, as far as its molecular weight is concerned, is suitable for melt processing, a process for preparing such a polyester, and products prepared from the polyester. According to the invention a liquid crystalline polymer is provided, containing a structural unit of formula (I), wherein R1, R2, R3 and R4 each independently represent hydrogen, halogen, lower alkyl, lower alkoxy, phenyl, which optionally is substituted with one or more halogens or lower alkyls, or benzyl, which optionally is substituted with one or more halogens or lower alkyls, and R5 and R6 represent hydrogen, lower alkyl, phenyl, or benzyl, with the proviso that if one of them is something else than hydrogen then the other one is hydrogen, n is an integer from 0 to 5. The glass transition temperature of the polyester according to the invention is higher than 90 °C and its forms an anisotropic mesophase at temperatures below 300 °C, which makes it possible to use the polyester for preparing polymer blends with conventional matrix polymers, in particular with polyolefins. High-strength constructional parts can be manufactured from the polyester.