The crystallization of amorphous Fe 7 8 B 1 3 Si 9 ribbons is monitored through the evolution of the hyperfine fields at the Fe sites as the ribbons are annealed between 300 o C and 550 o C for two hours at intervals of 50 o . Mossbauer sextets belonging to α-Fe(Si), Fe 3 B, Fe 2 B and α-Fe compounds begin to be seen as the annealing temperature is raised past 400 o C. The hyperfine field distributions responsible for the broadening of the Mossbauer sextet associated with the amorphous phase appear to be bimodal in nature. It is seen that the range of hyperfine field values becomes narrower as the annealing temperature is raised, pointing to a lessening of the inhomogeneity of the amorphous phase.