Microsoft’s next version of Windows is not expected for a couple years, but Apple Computer’s latest operating system arrives Friday night–the company’s fourth OS release in less than four years.

The Mac OS X update, dubbed “Panther,” highlights the different tacks the rivals have taken when it comes to updating their operating systems. Microsoft has not released a significant upgrade since Windows XP debuted in October 2001. The company has promised the next major upgrade, now referred to as “Longhorn,” will be a significant advance, although the release is not expected until 2006. In contrast, Apple has had three major updates to Mac OS X since its release in March 2001. The latest incarnation, version 10.3, goes on sale Friday at 8 p.m. in any given locality, with Apple’s retail stores planning special events to attract buyers. The OS carries a retail price of $129, although customers who purchased a new Mac or a copy of Mac OS X after Oct. 7 can buy it for $19.95.

Among the new features in Panther are an improved Finder, the ability to more easily synchronize files online and the addition of Expose, a feature that makes it easier to find a specific window on a crowded desktop. The OS also enables Macs to better coexist in a Windows-dominated world by allowing the Apple’s built-in e-mail and address book programs to get information off a Microsoft Exchange server. “With 150 improvements it really is like getting a new Mac,” said Mac OS X marketing director Ken Bereskin. Jupiter Research analyst Michael Gartenberg said companies walk a fine line when deciding how to time their releases. “The key to doing an OS update is you do them when you are ready,” he said.

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