The microstructure of the single hot extruded and annealed Ni50Al20Fe30Y0.003 intermetallic compound alloys has been examined by means of high resolution electron microscopy (HREM). In these extruded and annealed alloys. the ductile phase is of a mixture of the disordered fcc γ matrix and or dered γ’ precipitates. This fact well interprets the reason why the degree of annealing treatment can influence the strength and ductility of these alloys. The HREM observation revealed directly that there was some strain concentration at γ’-γ interfaces, due to the presence of more iron atoms in these two phases. The fixed orientation relationship between the γ phase and γ’ precipitates was identified to be {001}γ||{00 }γ’ and γ|| γ’
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