A large proportion of patients who present for treatment of posttraumatic stress disorder (PTSD) experience comorbid panic attacks, yet currently available PTSD treatment programs do not address this problem. This report provides an initial evaluation of a newly developed treatment, multiple channel exposure therapy (M-CET), for comorbid PTSD and panic attacks. The treatment uses elements of cognitive processing therapy treatment for PTSD and elements of panic control treatment to target physiological, cognitive. and behavioral symptoms. Results suggest that M-CET may be a promising treatment program for a subset of PTSD patients who experience panic attacks. Preliminary guidelines for conducting M-CET in a group format with participants exposed to diverse traumatic events are provided.