Microstructural analysis was conducted to observe the effect of aging treatments in a Cr-Mn austenitic stainless steel containing nitrogen, and the amount, size, shape and distribution of precipitates were investigated. It was found that on water quenching from 1000℃ after holding 3h at that temperature, the steel contained no precipitates observable by optical microscopy. Precipitation of phases begins at places most favorable for the formation of nuclei-in the boundaries of grains and twins. Precipitates were studied in detail by means of scanning electron microscopy (SEM) and transmission electron microscopy (TEM). Chemical compositions of precipitates were examined by the use of scanning transmission electron microscopy (STEM) together with an energy dispersive X-ray (EDX) microanalysis. Also chromium depletion adjacent to grain boundary precipitates was investigated by the use of Auger electron spectroscopy (AES) for a direct examination of the fracture surface chemistry.