Hi fireman, I've been on Effexor ( or venlafaxine as its called in the u.k ) for some time, and since taking it I haven't had any panic attacks. I do suffer from depression too, and so far has also kept this at bay, so helping me feel more positive about everything, including the thought of actually having a panic attack. I guess different medications work for different people. Don't know u.k names for Paxil or Xanax, so can't say about those, but I had tried quite a few others before this one, so good luck i hope it works for you too