Al-Li based alloys are attractive materials for the aerospace industry. The twin-roll casting of such materials could provide properties not achievable by conventional direct-chill casting and downstream processing methods due to significantly higher solidification rates. An Al-Li-Cu-Mg-Zr alloy was twin-roll cast with the same alloy containing a small addition of Sc. The microstructure of as-cast materials and the influence of Sc on the behavior of the alloy at elevated temperatures were studied by means of light and electron microscopy and by resistivity measurements. A fine-grained structure was formed during twin-roll casting, but several surface and internal defects were found on the strips, which should be suppressed by a further adjustment of the casting conditions. The addition of Sc had a positive effect on grain size uniformity and microstructure stabilization at elevated temperatures, as shown by the precipitation of a fine dispersion of coherent Sc- and Zr-containing precipitates.