Additions of a first alloy constituent of at least one element from the group consisting of Y, Sc, La, Ce, Pr, Nd, Pm, Sm, Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, and Lu, or any combinations of them, and a second alloy constituent of at least one element from the group consisting of C, Si, Ge, Sn and Pb, or any combinations of them, to Ti-base alloys can be employed so as to result in an alloy containing an very fine, substantially homogeneous oxide dispersoid of the first constituent, and produce alloys having improved tensile properties, especially tensile elongation. The dispersoid results from the decomposition of an intermediate phase dispersoid comprising a compound of the first and second constituents which results from rapid solidification of the alloy from a melt. It is preferred that the second alloy constituent should be at a concentration sufficient to form the intermediate phase with all of the element or elements comprising the first alloy constituent.