Disclosed is an aluminum alloy clad material and a heat exchanger using the clad material, the clad material being composed of: (a) a core material made of an aluminum alloy consisting essentially of, in weight percentage, 0.3 to 1.5% manganese, 0.05 to 0.35% copper, 0.05 to 0.50% magnesium, 0.06 to 0.35% titanium, less than 0.1% silicon and up to 0.3% iron, the copper content being related to the magnesium content in accordance with the following equation: Cu(%)-0.2.ltoreq.Mg(%).ltoreq.Cu(%)+0.2, the balance being aluminum and incidental impurities; and (b) a cladding material made of an Si-containing aluminum alloy brazing filler material clad onto at one or both sides of the core material. The aluminum alloy clad material is superior in press formability, corrosion resistance and brazability. Particularly, when the percentage of fine Mn compounds of 0.1 .mu.m or less and the Ti content variation in the core material are controlled, further improved properties can be obtained.