A method of making a supported catalytic species comprising an alloy of at least two metals, comprises the steps of: (i) combining a particulate support material, a solution of a first metal compound, a solution of a second metal compound, and a solution of an alkaline precipitating agent to form a slurry mixture; (ii) agitating the resultant mixture; and (iii) contacting the solids with a reducing agent, wherein the first metal in the first metal compound and the second metal in the second metal compound is each independently selected from the group consisting of gold, palladium, platinum, rhodium, iridium, silver, osmium and ruthenium; and wherein the first metal is not the same as the second metal.