Fats and oils that have been modified or restructured to incorporate new fatty acids are called structured lipids. Primarily, these fatty acids are either short or medium chain, and are preferentially essential fatty acids. The reasons for changing the fatty acid profile in the new oils are to introduce a new fatty acid into the existing oil, to reduce its saturation, improve nutritional requisites, or provide additional functional characteristics. Traditionally, the process involves either a chemical or an enzymatic catalyst. Now, many possibilities have emerged from research and also from an innovative new range of enzymes introduced by enzyme manufacturers. Modifications of oils and fats are common activities in most oils and fats enterprises. The more complicated processes such as those involving enzymatic reactions are less common due to the high capital and operational costs. However, the benefits offered by enzymes are specificity, mild conditions and less waste, or less of harmful side products (Yang and Xu 2001, Willis and Marangoni 2002). Unwanted side products can be minimised through proper selection of the most suitable enzymes as well as control of the reaction conditions.