The study aimed to examine the behavioral and neural correlates of facial emotion recognition in a non-clinical group of 13 young female students with single Panic Attacks (PA) compared to 14 matched healthy controls. Subjects were asked to recognize angry, fearful, happy, disgusted, sad and surprised faces, and reaction time and Event-Related Potentials (ERPs) were recorded. Significant between-group differences in reaction time were not found, but the PA subjects reacted more slowly to angry and fearful expressions. More distinct between-group differences were observed in the EPRs: the PA subjects demonstrated increased amplitudes of the P100 components in the occipital area. The increased amplitude of the occipital P100 component for threat-related faces suggests that this type of high-arousal negative emotions is particularly meaningful for the PA individuals.