Numerous studies have indicated that interpretation bias plays a key role in the development and maintenance of panic disorder; however, whether this bias is specific to the self or more generalized is unknown. This study offers a closer examination of the nature of interpretation bias among patients with panic disorder in an outpatient hospital-based anxiety clinic. Self-referential and global versions of the Body Sensation Interpretation Questionnaire (Clark et al. in J Consult Clin Psychol 65:203–213, 1997) were administered to 25 individuals with panic disorder, 25 individuals with social anxiety disorder and 24 non-anxious controls. Consistent with previous findings, individuals with panic disorder misinterpreted panic-related body sensations more so than anxious or non-anxious controls. Furthermore, the interpretation bias was limited to the self and did not extend to beliefs about how others would interpret panic sensations. Implications of these findings are discussed.