Chromium alloys present a potential for development of new high-temperature materials. Precipitation characteristics of a Cr-5Ni-5Al-0.5Ti (at.%) alloy were investigated utilizing a series of heat treatments. XRD, SEM, and analytical TEM were used to characterize the microstructure. This study has shown that the small spherical B2-NiAl precipitates forming below 1345 degrees C are highly coherent and have a well-defined orientation relationship with the Cr-matrix. Also, some evidence has been presented for the formation of L2(1)-Ni2AlTi phase within the B2-NiAl phase.