We have measured the diamagnetic shifts and photoluminescence linewidths of excitonic transitions in ordered and disordered In0.48 Ga0.52 P alloys, lattice matched to GaAs, in pulsed magnetic fields at 4 and 76K. The pulsed magnetic field ranged between 0 and 50T. The variations diamagnetic shifts with magnetic field in disordered and weakly ordered samples are considerably smaller than those calculated using a free exciton model. For a given magnetic field, the value of the diamagnetic shifts are found to increase with increasing order parameter. Furthermore, for all samples, the diamagnetic shifts at 76K are larger than at 4K suggesting that the excitons are strongly localized.