Plastic behavior of two-phase intermetallic compounds based on $LI_{2}$-type $(Al, Cr)_3$ Ti was investigated using compression test at R.T. and 77K. $LI_{2}$ single phase alloys and two-phase alloys consisting of mainly $LI_{2}$ phase and a few or 20% second phases were selected from AI-Ti-Cr phase diagram. In general, compared with Llz single phase, two-phase alloys consisting of 20% second phase showed relatively high yield strength and poor ductility. Among the alloys, however, AI-21Ti-23Cr alloy consisting of 20% $Cr_{2}Al$ phase showed available ductility as well as high yield strength. Plastic behavior of $LI_{2}$ single phase alloys and two-phase alloys consisting of a few% $Cr_{2}Al$ was also investigated. Homogenization of arc melted ingots substantially reduced the amount of second phases but introduced extensive pore. When Cr content increased in $Ll_{2}$ single phase alloys after the homogenization, the volume fraction of pore in the alloys decreased, and no residual pore was observed in two-phase alloys consisting of a few% $Cr_{2}Al$ phase. Environmental effect on the ductility of the alloys was investigated using compression test at different strain rates($1.2 imes 10^{-4}/s$ and $1.2 imes 10^{-2}/s$). Environmental embrittlement was least significant in A1-25Ti-10Cr alloy consisting of LIZ single phase among the alloys tested in this study. However, based on the combined estimation of the pore formation, environmental embrittlement and ingot cast structure, AI-21Ti-23Cr alloy consisting of 20% $Cr_{2}Al$ as the second phase is expected to show the best tensile elongation behavior.