A water-dilutable coating composition particularly adaptable for electro-deposition comprising water, a water-miscible solvent, and an ammonia or amine soap of a condensation product of an adduct of an .alpha.,.beta.-ethylenically unsaturated dicarboxylic acid and an ester of a hydroxyl-free drying or semi-drying oil, unmodified or modified with rosin, is described. The condensation product will comprise from 10 to 25 percent by weight of a dienophilic compound, 75 to 90 percent by weight of the...