
An improved process for preparing liquid-crystal containing pitches comprises extracting carbonaceous isotropic pitches with an organic solvent system to provide a solvent insoluble fraction which when heated for 10 minutes or less and to temperatures in the range of about 230.degree. C. to 400.degree. C. will upon polarized light microscopy examination of cooled samples display greater than 75% of an optically anisotropic phase.











