TiB2 powder, with different binders (Ni and Ni/Mn), after milling were cold compacted (300 MPa) and sintered in H-2 at 1300 and 1350 degreesC for 1 h. To improve the sintering behaviour, TiC/Mo2C alloy carbide was added and the milled charge along with the same binders (Ni and Ni/Mn) was cold compacted and sintered under similar conditions. Sintered density, porosity, transverse rupture strength (TRS), grain size and lattice parameter of binder and hard phases were measured. Better densification was observed with Ni/Mn binder as compared to Ni binder for either hard phase based systems. Maximum value of TRS was noted for TiB2-TiC-Mo2C-40 wt.% Ni/Mn cermet. Melt exudation was observed for either hard phase based systems with Ni binder.