Low water emulsions are described which are useful for antiperspirants and/or deodorants wherein the emulsions are made by combining (I) 15-33 % of an external phase comprising: (a) 1-25% of an organic ester having a refractive index in the range of 1.43-1.60 and capable of releasing an antiperspirant active to achieve a specified conductivity; (b) a sufficient amount of a silicone copolyol to achieve a solids content of 0.25-10 %; (c) a sufficient amount of a volatile silicone to achieve a total amount of the external phase as 15-33 %; (c) 0-5 % of a silicone elastomer (on an actives basis); and (d) 0-15 % of at least one emollient; and (II) 67-85 % of an internal phase comprising: (a) an effective amount of at least one cosmetically active ingredient; (b) a sufficient amount of a solvent component to dissolve the cosmetically active ingredient with a maximum amount being about 80 %; (c) 0.5- 15 % of water optionally containing up to 30 % of an ionizable salt soluble in water; (d) 0-5 % of a non-ionic emulsifier; and (e) 0-10 % ethanol; wherein: (1) the final refractive index of the composition is in the range of 1.42-1.52; and (2) the conductance of the composition is at least 250 micro Siemens/cm/ml at a loading of at least 7 % by weight level of antiperspirant active.