MEPIS said today that the release candidate of a community-built "ultra-lite" derivative of its own Linux distribution is ready for testing. AntiX (pronounced "Antics") is the personal project of MEPIS community member "anticapitalista," who wanted a MEPIS version that would work well on old PCs.
AntiX runs a 2.6.15 kernel and offers a choice of Fluxbox or IceWM as the desktop environment. It is architected for i586 and x86_64-bit machines and only has about a 400MB footprint.
http://www.linuxlinks.com/portal/news/article.php?story=20070607113440818