The objective of the study was to characterize and to evaluate physical and mechanical properties of experimental particleboard panels made from rubberwood (Heveabrasiliensis) using modified starch-urea formaldehyde as binder. Panels were manufactured using 13% corn starch modified with glutardialdehyde with addition of 2 % urea formaldehyde resin and tested for their physical and mechanical properties. All of the particleboards satisfied the Japanese Industrial Standard which required 2000 N/mm2, 8.0 N/mm2and 0.15 N/mm2for modulus of elasticity, modulus of rupture and internal bonding strength, respectively. The mechanical properties were comparable to those made using 15 % urea formaldehyde resin with reduction of formaldehyde fume was over 50 %.