The present invention relates to a water-in-oil emulsion comprising 15-90 wt.%of a fat phase having a solid fatcontent at 20 °C (N20) of at least 10% and 10-85 wt.% of aqueousphase, said fat phase comprising: .cndot.60-85% by weight of the fat phaseof glycerides selected from triglycerides, diglycerides, monoglycerides,phospholipids and combinations thereof, including at least70% of triglycerides by weight of said glycerides .cndot.15-40 % by weight ofsaid fat phase of phytosterol esters selected from sterolesters, stanol esters and combinations thereof wherein .omega.-3 fatty acidsselected from EPA, DHA and combinations thereof represent4-70% by weight of the fatty acids contained in the emulsion. Despite the highlevels of EPA and DHA contained in the emulsion,off-flavour development as a result of oxidation of these .omega.3-fatty acidsis minimized due to the presence of sterol esters.