Nickel/Aluminum laminates have been prepared by hot pressing of stacked alternate layers of very thin foils of nickel and aluminium. It is found that ductile nickel layers exist in hot pressed Ni/Al laminates which are annealed up to 600 degreesC. However, at these temperatures Al-rich intermetallic compounds are also formed with a very thin irregular layer of pure aluminium and few voids. As the annealing temperature is increased, nickel layer is consumed and Ni-rich intermetallic compounds are formed. Cold rolling up to 8% reduction in area resulted in the cracking of the regions having intermetallic compounds with cracks perpendicular to the rolling direction. The tensile strength values are high for the laminates which contain ductile Ni layers and reach a value of 320 MPa for the specimens which are hot pressed at 420 degreesC. However, the laminates which are annealed at 800 degreesC show brittle fracture and lower tensile strength of 174 MPa. The fractographic examination indicated that Ni/Al laminates which are hot pressed at 420 degreesC undergo plastic deformation before breaking. On the other hand, Ni/Al laminates which are annealed at 800 degreesC with Ni present in the form of intermetallic compounds only, exhibit brittle intergranular fracture.