A curable thermoplastic elastomeric blend comprising: (a) from 15 to 60 weight percent of a polyalkylene phthalate polyester polymer or copolymer and; (b) from 40 to 85 weight percent of a polyacrylate or polyethylene/acrylate rubber in combination with an effective amount of peroxide free-radical initiator and an organic diene co-agent to cross-link which upon extrusion or injection molding dynamically cross-link producing a melt processible thermoplastic elastomeric composition having a polyalkylene phthalate polyester polymer or copolymer continuous phase and of a cross-linked polyacrylate or polyethylene/acrylate rubber disperse phase. Such compositions are useful in the manufacture of rubber parts having excellent resistance to lubricating oils and greases.