Rapidly solidified Al-Fe-Mo-Si powders were produced by centrifugal atomization and then consolidated by hot extrusion. Five compositions were chosen in order to obtain a theoretical constant volume fraction of ( silicide + Al12Mo) of 20%, with different relative fractions of [silicide]/[alpha-matrix] and different ratios of [Fe]/[Mo] within the silicide. This paper presents the microstructures observed in both as-atomized and consolidated states. The only phase detected by X-Ray Diffraction, the non equilibrium ternary Al12-13(Fe, Mo)(3)Si, exhibits different sizes and morphologies and is inhomogeneously distributed within the matrix. Accurate electron microscopy observations indicate that this silicide may grow from a quasicrystalline precursor. Grains within the polycrystalline silicide often exhibit orientation relationships ( micro twinning) giving rise to quasicrystalline-like patterns. (C) 2003 Kluwer Academic Publishers.