We present a model calculation capable of investigating the dynamics of photoexcited carriers in the Al0.48Ga0.52As indirect gap semiconductor. Nearly resonant excitation at the Gamma point produces low excess energy carriers, so that we use Boltzmann like equations and assume thermalized carrier distributions for each of the conduction valleys. Some aspects of the carrier dynamics are discussed and pump and probe measurements are compared to the calculated saturation bleaching, evidencing a very good agreement between theory and experiment. We obtain a value of 3.5 eV/Angstrom A for the D-Gamma X deformation potential.76637493753