A new reconstitutable emulsion system was identified in laboratory, which is formed by addition of an aqueous vehicle to a finely divided solid. The emulsion does not contain emulsifiers or other surfactant materials. It is formed by dissolving saccharides or a hydrophilic polymer in a volatile solvent and the mixture is flash evaporated under vacuum until a dry solid is formed. The addition of water to the dry solid forms a dispersed system having unique properties. The new systems may be formed with strong acidic, alkaline or alcoholic solutions, is thixotropic, and the particle size decreases with time for about two weeks. The objective of this research is to establish the thermodynamic properties of the new emulsion obtained in laboratory. The research may lead to a new group of emulsion systems with application in pharmaceuticals, food and chemical industries.