The alignment of Nd2Fe14B grains (T1) and the microstructure of (Nd,Dy)12.8 (Fe,M) 80.7 B6.5 strip cast ribbons are reported in this paper. In the strips there is a pronounced texture of the tetragonal T1 phase and the columnar grains exhibit apparent alignment along [O O L]. The alignment coefficient j changes with the wheel speed V and is highest at V=1.5-2m/s. The Nd-rich phase is well segregated and widely distributed enclosing the fine columnar grains of the main phase in the strips prepared at V=2m/s. The magnetic properties of sintered magnets prepared from this kind of (Nd,Dy)12.8 (Fe,M) 80.7B6.5 strip cast ribbons are as follows: Br=1.457 T (14.57 kG), Hcj=1048kA/m (BH) max=408kJ/m3 (51.3 MGOe).