In the frame of this work, Al-5Ni-1Co-3RE (RE-Rare Earth (Mischmetal)) rapidly solidified ribbons were manufactured and analyzed. The morphology of the as-cast structure, as well as the microstructural features were analyzed by transmission electron microscopy (TEM) and scanning electron microscopy (SEM). Thermal stability has been investigated by combination of four point scanning electrical resistivity measurement (ER), differential scanning calorimetry (DSC) and microhardness measurement. From the results we can conclude, that Al-5Ni-1Co-3RE rapidly solidified alloys have good thermal stability due to very slow coarsening kinetics of precipitated particles