The ternary system of 4'-n-octyloxy-4-cyanobiphenyl (8OCB), 4-cyano-4'-Pentyl teraphenyl (5CT), and cholesteryl nonanoate (CN) exhibits very interesting unusual liquid crystalline phase of N-* (cholesteric), twisted grain boundary (TGB) phase, and re-entrant smectic-A (ReSmA) phases and it is obtained sequentially when the specimen is cooled from isotropic phase. These phases have been characterized by using X-ray and optical texture studies. The temperature variations of electrical conductivity have been discussed.