Several magnetite-based catalysts were prepd. by impregnation of a com. activated C with solns. of Fe, Cr and Cu nitrates, calcination and buring off the C matrix. Ru was introduced as an addnl. promoter to the Fe-Cr catalyst after heat treatment. All the catalysts were tested in the water-gas shift reaction. The highest activity showed the Ru-modified catalyst. The catalyst was also more active than the com. TZC-3/1 catalyst.