This is an investigation of a novel approach to catalysis called supported aqueous-phase catalysis. A catalyst dissolved in water is used to promote reactions of a liquid substrate that is immiscible with water; thus any action should occur at the liquid-liquid interface. In order to increase the area of contact between the two liquid phases, the aqueous phase is immobilized in the pores of a high-surface-area solid. Several potential aqueous-phase catalysts are being synthesized and characterized; these are based on known homogeneous catalysts. Test reactions include ring closure and hydroformylation. Activity and selectivity are measured. Supported liquid-phase catalysts may offer novel selectivities and will certainly provide more efficient catalyst separation than do homogeneous catalysts. They could provide a major competitive advance for pharmaceutical and specialty chemical synthesis.