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Stabilizer (B, Co)-free, light rare earth (Pr)-substituted Laves alloys (Tb(0.3)Dy(0.7))(1-x)Pr(x)Fe(1.55) (0 <= x <= 0.4) are synthesized, and their structural, magnetic, and magnetostrictive properties are investigated. X-ray diffraction analysis confirms the presence of single cubic Laves phase with an MgCu(2)-type structure in the (Tb(0.3)Dy(0.7))(1-x)Pr(x)Fe(1.55) alloys with 0 <= x <= 0.35. The lattice parameter a of the Laves phase increases, while the Curie temperature decreases, with increasing x from 0 to 0.35. The saturation magnetization of the alloys decreases with increasing x. The linear anisotropic magnetostriction lambda(a) (=lambda(parallel to) - lambda(perpendicular to)) shows a maximum of 1502 ppm at x = 0.25 as a result of the magnetocrystalline anisotropy compensation. (C) 2008 Elsevier B.V. All rights reserved.