The oxidation of 3-beta-acetoxyolean-12-en-30-oic acid methyl ester (I) with H2O2 in hot acetic acid gives 3beta-acetoxy-12-oxoolean-30-oic acid methyl ester (II), which is treated with Br2 in 40% HBr acetic acid yielding 3beta-acetoxy-12-oxoolean 9-en-30-oic acid methyl ester (III). The reduction of (III) with hydrazine and sodium ethoxide in ethanol affords 3beta-hydroxyolean-9(11)-en-30-oic acid (IV), which is finally esterified with succinic anhydride (V) in hot pyridine.