Phenoxyacetic acid derivatives and process for the preparation thereof

Compounds of the formula WHEREIN R1 is H or alkyl of 1-10 carbon atoms; R2 is H, alkyl of 1-4 carbon atoms or halogen; and R3 is pyrrolidino, piperidino, 3-hydroxypyrrolidino, 3-hydroxypiperidino, isoindolino optionally substituted in the aromatic ring by one or more alkyl, alkoxy groups and halogen or by a methylenedioxy group, 1,2,3,4-tetrahydroquinolino, 1,2,3,4-tetrahydro-4-quinolyl, 1-alkyl-1,2,3,4-tetrahydro-4-quinolyl, 1-benzimidazolyl, 2-alkyl-1-benzimidazolyl, 1-pyrryl, 1-benzotriazolyl, 2-indanyl or 4-piperidinophenyl, alkyl and alkoxy in each instance containing 1-4 carbon atoms, and salts thereof, possess cholesterol and triglyceride blood serum level-lowering and enzyme-inducing activity.