A process for the preparation of a catalyst, which process comprises the steps of: i) mixing an alumina precursor with combustible carbon-containing fibers with a diameter in the range of from 0.5 to 5 .mu.m and a length of no greater than 100 .mu.m in an amount in the range of from 20 to 40 wt % based on the total dry mixture; ii) adding nitric acid and water to form an extrudable mass; iii) extruding the mixture to form shaped particles; iv) drying the shaped particles; v) heating the particles in an atmosphere comprising no more than 5 vol % oxygen at a temperature in the range of from 350 to 600.degree. C.; and vi) then heating the particles in a gas mixture comprising at least 12 vol % oxygen at a temperature in the range of from 450 to 600.degree. C.