TECHNOLOGY FOCUS - BIOLOGY - The first lipolytic enzyme is 60% identical with a lipolytic enzyme selected from Lipase B obtained from Candida antarctica, Hyphozyma sp. and C. parapsilosis. The second lipolytic enzyme is 60% identical with a lipolytic enzyme selected from lipase obtained from Thermomyces lanuginosus, lipases from C. rugosa, Pseudomonas cepacia, Geotricum candidum, Rhizomucor miehei, Crytococcus spp. (S-2), C. parapsilosis and Humicola lanuginosus, cutinase obtained from H. insolens and lipase A obtained from C. antarctica.    TECHNOLOGY FOCUS - ORGANIC CHEMISTRY - Preferred Process: The process is proceeding in batch mode, continuous mode or counter-current mode. The solution phases in the reaction mixture are mixed using a high shear mixer.Preferred Components: The substrate additionally comprises free fatty acids (0.01 - 95 wt.%). The triglyceride is derived from at least one vegetable oil feedstock, rapeseed oil, soybean oil, mustard oil, sunflower oil, canola oil, coconut oil, hemp oil, palm oil, tall oil, animal fats including tallow, lard, poultry or fish oil. The molar ratio between alcohol and fatty acid residues is 0.1 - 10 (preferably 0.3 - 5, especially 0.4 - 2). The alcohol is methanol or ethanol. The reaction mixture additionally comprises water (upto 50 wt./wt.%). SPECIFIC COMPOUNDS - Preparation of fatty acid methyl ester and fatty acid ethyl ester are disclosed as the fatty acid alkyl esters.    EXAMPLE - Salad oil (8 g) was mixed with methanol (0.500 ml). The resultant mixture was heated to 50degreesC on a reciprocal water shaking batch (200 revolutions per minute (rpm)). Demineralized water was added, corresponding to 32 wt./wt.% of the total mixture. The mixture was heated to 50degreesC. Then a combination of Candida antarctica lipase (CALB) and Thermomyces lanuginosus lipase (TLL) was added to the mixture; vigorously mixed for 10 seconds and left on reciprocal water shaking bath at 50degreesC and 200 rpm. The phases of the mixture were mixed, by using high shear mixers. Samples were withdrawn form the mixture after 3 hours reaction time and centrifuged for 14 minutes at 14000 rpm. The upper layer consists of fatty material not soluble in the water phase. The conversion of the fatty acids residues into fatty acid methyl ester was determined, and found to be 16.21, whereas when single enzymes were used, then the conversion for CALB and TLL enzymes were found to be 0.55 and 13.22 respectively.