Abstract: In the present contribution several advanced electron microscopy techniques are employed in order to describe chemical and structural features of the nano- and microstructure of a Ni45.5Ti45.5Nb9 alloy. A line-up of Nb-rich nano-precipitates is found in the Ni-Ti-rich austenite of as-cast material. Concentration changes of the matrix after annealing are correlated with changes in the transformation temperatures. The formation of rows and plates of larger Nb-rich precipitates and particles is described. The interaction of a twinned martensite plate with a Nb-rich nano-precipitate is discussed and the substitution of Nb atoms on the Ti-sublattice in the matrix is confirmed.