A multi component catalyst and catalytic cracking process for selectively producing C3 olefins. The catalyst comprises a first molecular sieve having an intermediate pore size, a second molecular sieve and, optionally a third molecular sieve having a large pore size. At least one of the channels of the second molecular sieve has a pore size index that is less than the pore size index of at least one channel of the first molecular sieve. The process is carried out by contacting a feedstock containing hydrocarbons having at least 5 carbon atoms is contacted, under catalytic cracking conditions, with the multi component catalyst. The catalyst finds application in the cracking of naphtha and heavy hydrocarbon feedstocks.