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To: Panita who wrote (25480)	12/10/1998 10:46:00 AM
From: Gravitar	Respond to of 119973

PNDA+HONEYWELL: Thursday December 10, 10:27 am Eastern Time Company Press Release The Panda Project Announces Honeywell Order BOCA RATON, Fla.--(BUSINESS WIRE)--Dec. 10, 1998--The Panda Project, Inc. (Nasdaq:PNDA - news) today announced that Honeywell's Solid State Electronics Center (SSEC) located in Plymouth, Minnesota has executed a development Purchase Order for The Panda Project's VSPA(tm) semiconductor package. Honeywell has targeted VSPA(tm) for use in its high temperature single chip electronic and sensor products. Honeywell's Solid State Electronics Center (SSEC) is a major supplier of specialized integrated circuits for aerospace and military markets, and a manufacturer of sensors and electronics for a variety of commercial applications. Based on their leading Silicon On Insulator technology, SSEC has developed a new line of electronics, HTMOS(tm). These sensors, controls and Multichip Module (MCM) packages are targeted at high temperature applications up to 225(Degree)C. VSPA(tm) is an advanced semiconductor packaging technology developed by The Panda Project. It has received industry acceptance by JEDEC, the worldwide standards committee, and has received designation as PQFP-B. The designation PQFP-B refers to VSPA(tm) as an extension of the PQFP family of products which are the most widely used in the industry. Until VSPA(tm), no PQFP was commercially offered to provide above 304 contacts. Panda's PQFP-B now extends the family's capability to over 1000 contacts. Additionally, PQFP-B breaks new ground for high pin count devices by being the first to provide multichip module capability at a very low cost. For more information on these and other products please visit The Panda Project web site at www.pandaproject.com, and the Honeywell SSEC web site at www.ssec.honeywell.com. Forward-looking statements in this release, including statements concerning production or sale of the VSPA(tm) product, are based on information available to the Company as of the date hereof and involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are delays or failures in product development, competitive pressures, general economic conditions, risks of intellectual property litigation, and the risk factors detailed from time to time in the Company's periodic reports and registration statements filed with the Securities and Exchange Commission. --------------------------------------------------------------------------------