Abstract: A continuous fiber reinforced composite panel and a one-step method of molding it using a high viscosity, thermoplastic matrix. The high viscosity, thermoplastic material is in the form of fibers and the fibers are commingled with reinforcing fibers producing a dry woven matte. The dry woven matte is placed in a mold and heated under pressure around a pin mandrel forming part of the mold. The method of forming the panels is a one-step method using a two-piece mold, one-half of which includes a pin mandrel having formed thereon a plurality of permanent die pins corresponding in number to the number of holes to be formed in the perforated composite panel. The other half of the mold has holes or cavities formed therein corresponding in number to the number of pins and into which these die pins are received when the mold is closed. The method simply is to place the dry woven matte over the die pins in the mold and to then close the mold. The mold is placed in a press and heat and pressure is applied to the mold.