By Jack Robertson EBN (07/14/2003 1:00 PM EST)

Intel Corp. Monday introduced a new Xeon processor for dual processor servers and workstations . The MPUs feature 1Mbyte L3 cache, double the on-die cache of previous Xeon chips.

The new processor has 3.06GHz frequency and a 533MHz front side bus. It is drop-in compatible with existing servers using the Intel E7501 server chipset or E7505 workstation chipset.

The larger on-die cache improves performance by more than 15% over previous dual processor Xeon chips, according to Intel.

The new processor is available at a suggested list price of $690 in 1,000-unit quantities.