A convenient procedure has been developed for the synthesis of 3β,28-diacetoxylup-20(29)-en-30-oic acid via oxidation of 3β,28-di-O-acetylbetulin with selenium dioxide in aqueous ethanol on heating, followed by oxidation of 3β,28-diacetoxylup-20(29)-en-30-al thus formed with sodium chlorite in tert-butyl alcohol. The alkylation of 3β,28-diacetoxylup-20(29)-en-30-oic acid with 1,3-dibrompropane and 1,5-dibromopentane in boiling acetonitrile in the presence of potassium carbonate afforded the corresponding ω-bromoalkyl esters in high yields.