A process for preparing a dispersion of encapsulated solid particles in a predominantly organic liquid vehicle, comprising the following steps: i) providing a dispersion comprising a particulate solid, a liquid medium and a polymeric dispersant having at least 3.0 mmoles of reactive groups per g of dispersant; ii) cross-linking the polymeric dispersant via at least some, but not all, of the reactive groups, said cross-linking being performed in the presence of the particulate solid and the liquid medium and resulting in the encapsulation of each solid particle with a cross-linked polymeric dispersant shell; iii) covalently bonding an end-capping agent to the polymeric dispersant via the reactive groups; said process being such that the final organic liquid vehicle comprises one or more organic liquids and optionally water, provided that water is present at no more than 30% by weight based on the dispersion.