Advanced epoxy resin compositions are prepared by reacting a composition comprising (1) an aromatic hydroxyl-containing product resulting from reacting a composition comprising (a) at least one diglycidyl ether of (i) an oxyalkylated aromatic diol, or (ii) at least one compound having two hydroxyl groups per molecule in which the hydroxyl groups are attached to an aliphatic or cycloaliphatic carbon atom and which compound is free of aromatic rings; or (iii) a combination of (i) and (ii); and (iv) optionally a diglycidyl ether compound different from (i) and (ii); and (b) at least one compound containing two aromatic hydroxyl groups per molecule; (2) at least one diglycidyl ether of a compound containing two aromatic groups per molecule; (3) optionally, one or more compounds containing two aromatic hydroxyl groups per molecule; and (4) optionally, a monofunctional capping agent. The advanced resins are useful in coating compositions.