Aluminum alloys were produced by means of mechanical alloying and subsequently hot extrusion, microstructure were studied and their properties determined. Two Al-Fe-X-Si (X=V or Nb) compositions, Al-90.8-Fe-6.2-Nb-1.0-Si-2.0 and Al-90.8-Fe-6.2-V-1.0-Si-2.0 (at. %), were prepared by mechanical alloying from the respective metallic powders. The powder mixtures and extruded materials were characterized by X- ray diffraction, differential scanning calorimetry, scanning (SEM) and transmission (TEM) electron microscopy, and energy dispersive spectrometry (EDS). Extruded materials were also characterized for hardness and tensile strength.