The evolution of precipitation and microstructure during a simulation of the thin slab direct rolling process, in six vanadium based, low carbon, steels with V, V-N, V-Ti-N, V-Nb, V-Nb-Ti and V-Zr additions was studied by optical microscopy, analytical transmission electron microscopy (TEM), energy dispersive X-ray analysis (EDAX) and parallel electron energy loss spectroscopy (PEELS). Tensile properties and Charpy vee-notch toughness of the final strip were also determined. The effects of microalloying additions and processing conditions, including equalisation temperature (1 200°C, 1 100°C and 1 050°C) and end water cool temperature, on the austenite and ferrite grain sizes, as well as the type and composition of the precipitates, were determined. The relationship between the microstructure and the properties in the steels was also ascertained