Ge68Cr14Al10Ce4Sm4 amorphous alloy was found to have a multistage crystallization behaviour. First stage of crystallization has been studied by differential scanning calorimetry, X-ray diffraction and transmission electron microscopy including high-resolution imaging. This phase transformation can not be described just by one of the following mechanisms: polymorphous, eutectic, primary and spinodal decomposition and is rather a combination of the polymorphous and primary crystallization. An activation energy E (an energy barrier opposing a reaction) obtained using Kissinger analysis from the shift of the peak temperature in the DSC curve was 360 kJ/mol. Crystalline structure of an unknown phase formed under heating was studied.