A new mathematical model for a continuous recycle esterification process has been derived by basically the same procedure as the continuous process of a cascade type, reported earlier, which includes material and heat balances. Such a model can give extensive information about the optimum design of a new plant through the predictions of oligomer characteristics (concentrations of carboxyl and hydroxyl end groups, number average molecular weight, number average degree of polymerization, esterification and saponification degree, DEG content, melting point of oligomer, etc.) , distillate properties (concentrations of EG and water in the vapor phase), heat transfer area, mass flow rate of heating medium, amount of heat supplied by heating medium, enthalpy moving with recycle, and amount of heat removed from each reactor.