TECHNOLOGY FOCUS - ORGANIC CHEMISTRY - Preferred Method: The process involves oxidation of the allylic double bond of eugenol carried out in the presence of an oxidizing agent selected from ozone, hydrogen peroxide, potassium permanganate (KmnO4), osmium oxide (OsO4), Pd(II) salts in combination with oxygen, halogens, ruthenium tetroxide (RuO4) and chromium trioxide (CrO3). The oxidation step is carried out in the presence of a catalytic amount of a base, preferably an alkali or alkaline earth metal hydroxide, carbonate, bicarbonate, phosphate or carboxylate. The oxidation step is followed by reduction of the reaction product with a reducing agent in the presence of a hydrogenation catalyst to obtain 4-(2-hydroxyethyl)-2-methoxyphenol. The oxidation step and/or the reduction step are carried out in a solvent selected from methanol, dichloromethane, methylenechloride, ethanol, and/or ethylacetate. The oxidation step and/or the reduction step are carried out at below 25 (preferably below 0) degrees C and are carried out in the same reaction batch. The reduction step is followed by demethylation of the 4-(2-hydroxyethyl)-2-methoxyphenol. The demethylation step is carried out in the presence of a thiol in combination with a Lewis acid, a metal thiolate and/or a metal alkoxide. The demethylation step is carried out in the presence of aluminum chloride (AlCl3) and ethanethiol. The eugenol is demethylated in a first step and where the reaction product is subsequently converted to hydroxytyrosol. Preferred Components: The reducing agent is selected from a boron hydride, such as sodium borohydride (NaBH4), an aluminum hydride, such as lithium aluminum hydride (LiAlH4), a metal, such as sodium, aluminum, zinc or magnesium, an organic hydride source, such as a dihydropyridine or isopropanolate, and hydrogen. ACTIVITY - Antiinflammatory; Vasodilator; Hypertensive; Fungicide; Hemostatic; Nootropic. No biological data is given.    MECHANISM OF ACTION - Monoamine oxidase B inhibitor.    EXAMPLE - Into a solution of eugenol (5 g) and sodium bicarbonate (NaHCO3) (0.1 g) in methanol-dichloromethane (1:1, 200 ml), ozone gas was bubbled at -78 degrees C. After 2 hours of stirring at that temperature, the ozone was replaced by nitrogen. After 15 minutes, sodium borohydride (NaBH4) (1.21 g) was added in portions to the reaction mixture. When the addition was finished, the dry ice-acetone bath was removed and the reaction mixture was slowly warmed to room temperature. After stirring at room temperature for 2 hours, the solvent was evaporated under reduced pressure. Brine (100 ml) was added and the resulting mixture was extracted with ethyl acetate (3x 100 ml). The organic extract was dried over anhydrous sodium sulfate and concentrated to give 4-(2-hydroxy-ethyl)-2-methoxyphenol as orange oil (4 g, 80%). To a stirred solution of aluminum chloride (3.1 g) in ethanethiol (16 ml) cooled in an ice-water bath, 4-(2-hydroxy-ethyl)-2-methoxyphenol (0.99 g) was added. The reaction was stirred at 0 degrees C for 2 hours and at room temperature for 40 hours. After work up 4-(2-hydroxyethyl)-2-methoxyphenol (0.86 g, 94.7%) was obtained as red oil.