The catalyst for reduction of NO content of exhaust gases from ic. engines consists of 40-95 wt. % Ni and 5-60 wt. % Cu on a refractory carrier of surface area 5m2/g max. The carrier is pref. alumina with surface area of 0.1-2 m2/g and the active constituents pref. comprise 5-20 wt. % of the total catalyst. Under net rich fuel conditions, the NO is efficiently removed at high flow rates and the catalysts resist high temps. without sintering and loss of efficiency.