Milk protein ingredients in general, and caseinates especially, are very good fat emulsifiers and are widely used in emulsifying applications in foods (Dalgleish, 1997). While casein/caseinate ingredients are still relatively inexpensive, the rising cost of and functional demands on milk protein ingredients have created a need for speciality milk protein ingredients which possess the requisite physico-chemical and functional properties for specific food applications. One modification which is gaining acceptance as a potentially valuable modification to produce speciality ingredients is protein–polysaccharide conjugation via a Maillard-type reaction (Kato, 2002). Conjugates produced by this method have been shown to possess improved functional properties, including increased solubility, particularly around the isoelectric pH of the protei