A platinum alloy catalyst PtXY, wherein X is nickel, cobalt, chromium, copper, titanium or manganese and Y is tantalum or niobium, characterised in that in the alloy the atomic percentage of platinum is 46-75 at %, of X is 1-49 at % and of Y is 1-35 at %; provided that the alloy is not 66 at % Pt20 at % Cr14 at % Ta or 50 at % Pt, 25 at % Co, 25 at % Ta is disclosed. The catalyst has particular use as an oxygen reduction catalyst in fuel cells, and in particular in phosphoric acid fuel cells.