Yes.. either you can upgra

Yes.. either you can upgrade to Premiere Pro CS3 or you can get Raylight. Raylight is a plug-in that supports Panasonic MXF files in Premiere Pro 2. Check out http://www.dvfilm.com/raylight for more info. It’s $195, but if Premiere is your main editor, you might as well spend the $299 to get native support. However, Raylight is another option. It also has a nifty “flip/Flop” capability to keep your footage from appearing upside-down/in the right direction if you shot with a 35mm adapter such as the Redrock M2, etc.