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New compositions of matter comprise a metal from the group consisting of platinum, rhodium and palladium, a metal from the first row of Group VIII of the Periodic Table and a nonacidic L-zeolite. A preferred composition is Pt--Ni/KL-zeolite. Such catalysts are prepared by coimpregnation of the zeolite with the metals. Methods of using the catalysts in reforming, aromatization or dehydrogenation are provided.