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The solid state reactions and structural evolution in nanocrystalline FePt powders during mechanical ball milling at 77 K and subsequent annealing have been investigated. Above 310 °C the formation of L10 FePt is observed. As the milling time increases, the enthalpy evolved during the transformations is reduced, whereas the corresponding activation energy increases. For accelerating the ordering process a fine lamellar structure of Fe and Pt is favourable.