A novel catalyst precursor which comprises a Group IV-B transition metal oxide deposited on the surface of an inorganic metal oxide support, preferably alumina; especially where the Group IV-B transition metal oxide is deposited on the support surface as discrete areas separated by areas of support surface which contain little, if any, of said Group IV-B transition metal oxide; and a catalyst composition comprised of a cluster of a Group IV-B transition metal oxide and a Group VIII metal preferably a Group VIII noble metal, deposited on an inorganic metal oxide support, particularly an alumina support, especially where the clusters are deposited on the surface of the support, as discrete clusters separated by areas of support surface which contain little, if any, of said Group VI-B transition metal oxide, or clusters of said Group IV-B and Group VIII metals.