Intel announced that its Katmai-code-named processor will be called the Pentium III when it becomes available in late February. Running at 450MHz and 500MHz, ZDNN is reporting that chips will start off at prices close to current Pentium IIs. The PIII 450 is expected to sell for US$580 with the PIII 500 selling around $825. In April, the 450MHz and 500MHz chips should fall in price $445 and $680 respectively.

　　When the chip releases, expect titles right away. While there haven't been announcements regarding PIII software yet, Intel says that it has been working extensively with software developers to optimize software for the new chip. Considering the new chip adds 70 new instructions for better 3D video, audio, and graphics support, gamers should expect new titles with support or upcoming patches to optimize existing games for the processor.

　　Intel also announced the Pentium III Xeon processor for server and workstation optimization. And while Xeon titles probably won't be announced, Xeon processors could speed games to astronomical levels. Unfortunately, we assume that gamers will have to pay astronomical prices for Xeons upon release.

　　"Around the world, PC users associate the Pentium brand with the highest PC performance, compatibility, and quality available," said Jami Dover, vice president of Intel's sales and marketing group and director of worldwide marketing operations. "Computer users will be able to instantly recognize the Pentium III processor family as the top performer from Intel and in computer makers' product lines."