Cu-33.0 Zn-4.3 Sn mass % alloy polycrystals were made and quenched from 1103K. After the tensile tests, it was found that the shape memory effect below 268K and the superelasticity above 278K, and about 4% maximum pseudoelastic strain was observed. The superelastic strain and shape memory strain are complementary and the total superelastic and shape memory recoveries are normally close to 100%. The new alloy of Cu-34.9Zn-3ASn-2.2 Pb mass% having excellent hot work ability and corrosion resistance also showed shape memory effect at low temperature and can be used as the superplastic and corrosion resistant shape memory elements.