A panic exit latch and actuator assembly comprising a latch bolt movable between a projected position and a retracted position with a spring yieldably urging the bolt to its projected position. A solenoid is operatively connected to the latch bolt by a control member, the solenoid being electro-magnetically arranged such that it requires significantly less current to hold its armature in its retracted position against the urging of the latch bolt spring than to retract the armature against such urging. The latch bolt is also moved by an actuator element, the actuator element being driven by a panic bar. The actuator element itself is arranged to move the armature of the solenoid to its retracted position, and a dogging screw or other such locking member is provided to hold the armature in its retracted position even when the solenoid is deenergized.