The main objective of this project is to determine the feasibility of improving the high temperature characteristics of low cost Fe-Co-Nd-B magnets so that they might replace expensive SmCo5 magnets in numerous applications. They propose to magnetically anneal amorphous melt-spun Fe-Co-Nd-B at temperatures near the crystallization in order to increase their coercivity. Curie temperature, energy project and coercivity will be determined in order to find the composition with the best combination of magnetic parameters.