Abstract: A process is provided for the production of a coating composition containing microcapsules having a hydrophilic core for use in the manufacture of pressure-sensitive carbonless transfer papers comprising the following steps. A hydrophilic emulsion component is prepared by dispersing at least one chromogenic material being soluble in the hydrophilic liquid. A hydrophobic emulsion component is prepared by dispersing an emulsifier in a radiation curable hydrophobic liquid. A first wall-forming material and a second wall-forming material are added to the hydrophobic emulsion component, with mixing. The first and second wall-forming materials are soluble in the hydrophobic emulsion component, and the first wall-forming material is reactive with the second wall-forming material to form a polymeric capsule wall. The resultant polymeric capsule wall is substantially insoluble in the hydrophilic and the hydrophobic emulsion components.