The presently claimed invention provides a catalytic article and an exhaust gas treatment system. The catalytic article comprises platinum supported on a first support comprising ceria containing metal oxide component; rhodium supported on a second support selected from a refractory alumina component, an oxygen storage component or a combination thereof; and a substrate, wherein said catalytic article is essentially free of palladium. The presently claimed invention also provides a process for preparing the catalytic article and use of the catalytic article and the exhaust gas treatment system for purifying a gaseous exhaust stream comprising hydrocarbons, carbon monoxide, and nitrogen oxide.