ositron lifetime measurements are made in the as quenched state as well as inisochronal anneating cycle of the metaglasses Fe73.5Cu1Nb3Si13.5B9 andFe73.5Cu1Nb1.5Mo1.5Si13.5B9 respectively. The behaviors of lifetime are explained byinvoking the free volume model which affirms the existence of two kinds of freevolumes. The variation of positron lifetime as a function of annealing temperatureindicates the stages corresponding to structural relaxation and crystallization.