FeAl and Ni3Al matrix composites containing various fine particles were fabricated successfully by reactive hot-pressing. The strength and the fracture toughness of these composites at ambient temperatures were evaluated. The addition of β-SiC particles was effective for strengthening of the Fe-40at%Al matrix, however, an extreme decrease of fracture toughness occurred due to the suppression of stress relaxation effect by plastic deformation at a crack tip. The fracture toughness of the reactively hot pressed Fe-40at%Al and its composites was also affected by the environmental embrittlement effect. TiB2 and ZrB2 particles in the Fe-40at%Al matrix composites were clarified to play a role in the reduction of the environmental effect. For the Ni-25at%Al matrix, higher flexural strength was achieved by the addition of TiB2, TiC and TiN particles. TiB2 particles reacted with the matrix during hot-pressing. The Ni-25at%Al/TiB2 composite had a fracture strength of 1.5 GPa in spite of large grain size of the matrix. TiC and TiN were the best choices as effective reinforcing matrials for the Ni3Al matrix among the chemical compatible ones.