An experimental program of steel panel shear walls is outlined and some results are presented. The specimens tested utilized low yield strength (LYS) steel for the infill panel and reduced beam sections (RBS) at the ends of the beams. Two specimens in the program make allowances for the penetration of the wall panel by utilities, which would exist in an actual retrofit situation. The first, consisting of multiple holes, or perforations, in the steel panel, also has the characteristic of reducing the panel's strength further than the LYS property alone, from that of the solid panel. The second such specimen utilizes quarter-circle cutouts in the top corners of the frame, which are reinforced to transfer all of the panel's forces to the adjacent framing.