A small amount of misch metal and/or Zr was added as a dopant to 70.5wt----Cu-26wt----Zn-3.5wt----Al shape memory alloy in order to study the effect of grain refinement and heat treatments on the transformation behavior, stabilization of martensite, and shape memory ability. It was found that the addition of misch metal and Zr was very effective for reducing the grain size. The fracture mode has been changed from intergranular brittle fracture to ductile fracture with void formation and coalescence by the addition of misch metal and Zr. Aging of the ${eta}$-phase decreases the $M_s$ temperature, but that of the martensite phase increases the $A_s$ temperature. The hysteresis of transformation temperature ${Delta}T(A_s-M_s)$ has an increasing tendancy by grain refinement. The crystal structure of martensite was identified as monoclinic structure. As the grain size decreased, martensite stabilization more easily occured and the shape, memory ability has been reduced by the grain size refined.