Since the giant magnetocaloric effect is encountered in a ferromagnetic Gd5Si2Ge2 alloy near room temperature it is considered as a suitable material for magnetic refrigerator applications. Also a commensurate structural transition occurs at the magnetic transition temperature and there is a good correlation between the crystal structure and magnetic properties. Such observations have triggered numerous experimental studies on similar rare earth alloys and compounds. We have synthesized its Dy- analogue, namely, Dy5Si2Ge2 and have characterized it by means of room temperature X-ray diffraction, ac magnetic susceptibility (15 K-300 K), electrical resistivity (at zero field and at 6 T), thermoelectric power (15 K-300 K) and neutron diffraction (at 300 K and 9.2 K) experiments. ©2002 IEEE.