Abstract: A two-rings-containing phenyl ester compound of the following general formula (1), ##STR1## wherein R.sup.1 is a linear alkyl group having 5 to 12 carbon atoms, R.sup.2 is a linear alkyl group having 1 to 15 carbon atoms, X.sup.1 and X.sup.2 are both hydrogen atoms or one of X.sup.1 and X.sup.2 is a fluorine atom and the other is a hydrogen atom, Y.sup.1 and Y.sup.2 are both hydrogen atoms or one of Y.sup.1 and Y.sup.2 is a fluorine atom and the other is a hydrogen atom, and A.sup.1 is a hydrogen atom, --CH.sub.3 or --CF.sub.3, provided that when A.sup.1 is a hydrogen atom or --CH.sub.3, p is 0 and that when A.sup.1 is --CF.sub.3, p is t and q is an integer of 5 to 8, and an anti-ferroelectric liquid crystal composition containing at least one of two-rings-containing phenyl ester compounds of the above general formula (1) in claim 1 and either an anti-ferroelectric liquid crystal compound or a mixture of anti-ferroelectric liquid crystal compounds.