The mechanical properties of a bulk amorphous alloy ($Zr_{41.2}$ $Ti_{13.8}$ /$Cu_{10}$ $Ni_{10}$ $Be_{22.5}$ /at.%) before and after an annealing treatment were investigated. For the bulk amorphous alloy, the compressive strength was about 2.0 GPa, irrespective of the strain rates in the range of $10^{-4}$ to $10^3$$ sec^{-1}$ . Fine-sized nanocrystalline particles (10～100 nm) were precipitated homogeneously in the bulk amorphous matrix after the annealing treatments. Compared to the bulk amorphous materials, these composite materials, composed of the nanocrystalline phases and a bulk amorphous matrix had much different mechanical properties. The strength and strain of coposite materials measured by a compressive test showed a peak-maximum values at 7 vol.% of the nanocrystalline phases. The values in higher volume fraction of the crystalline phases in the amorphous matrix were decreased, as measured by both quasi-static and high strain rate. The decrease in fracture strength is due to presence of the dispersed large-crystalline phases in the amorphous matrix.