7 nitro benzothiophene 4 yloxy ethyl 2 phenyl oxazole obtained by the above process may be converted into of 5 methyl 4 2 7 amino benzo thiophene 4 yloxy ethyl 2 phenyl oxazole by hydrogenation the conditions of the hydrogenation reaction h 2 raney nickel are known in the art hydrogen pressure may be 1 to 10 bar preferably 1 bar the above process may be continued by the reaction of 5 methyl 4 2 7 amino benzothiophene 4 yloxy ethyl 2 phenyl oxazole with hhal nano 2 followed by reaction with ch chcooch 3 cu i hal wherein hal is br or cl preferably br the reaction product in case of hal is br is methyl 2 bromo 3 4 2 5 methyl 2 phenyl oxazole 4 yl ethoxy benzothiophene 7 yl propionate the reaction of methyl 2 bromo 3 4 2 5 methyl 2 phenyl oxazole 4 yl ethoxy benzothiophene 7 yl propionate with thiourea will produce 2 imino 5 4 2 5 methyl 2 phenyl oxazole 4 yl ethoxy benzothiophene 7 yl methyl thiazolidine 4 one the reaction is normally performed in alkylalkohols like ethanol this compound 2 imino 5 4 2 5 methyl 2 phenyl oxazole 4 yl ethoxy benzo thiophene 7 yl methyl thiazolidine 4 one may then be converted into 5 4 2 5 methyl 2 phenyl oxazole 7 yl ethoxy benzothiophene 4 methyl 2 4 thiazolidinedione by reaction under acid conditions the reaction may be performed at 1 4 bar preferably at 1 bar acidic conditions are provided by an organic or inorganic acid in an appropriate solvent e g hcl ethanol the reaction may be optionally continued by conversion of 5 4 2 5 methyl 2 phenyl oxazole 4 yl ethoxy benzothiophene 7 methyl 2 4 thiazolidinedione in a corresponding salt.