PURPOSE: To obtain in high yield the subject compound useful as an intermediate for producing antiarrhythmic agents with the amounts of the halogenating agent etc., to be used limited, by reaction of 4-nitrophenylpropionic acid with a specified amount of a halogenating agent followed by condensation reaction of the reaction product with ethanolamine at specified temperatures. CONSTITUTION: (A) 4-Nitrophenylpropionic acid is reacted with (B) 1.0-1.2 molar times, based on the component A, of a halogenating agent (e.g. thionyl chloride, phosgene) to form (C) an acid halide derivative of the component A, which is, in turn, subjected to condensation reaction at 10-70 deg.C with (D) ethanolamine to obtain the objective compound. It is preferable that the condensation reaction be conducted in the presence of an inorganic base such as sodium hydroxide or sodium (bi)carbonate at 1 to 2 gram equivalent per mol of the component C.