Paniclog contents?

I have a bunch of the following messages in my paniclog:
1997-01-09 18:48:04 select() or accept() failed: Network is unreachable
1997-01-09 18:48:09 select() or accept() failed: Network is unreachable
1997-01-09 18:48:14 select() or accept() failed: Network is unreachable
1997-01-09 18:48:19 select() or accept() failed: Network is unreachable
1997-01-09 18:48:24 select() or accept() failed: Network is unreachable
1997-01-09 18:48:29 select() or accept() failed: Network is unreachable
1997-01-09 18:48:34 select() or accept() failed: Network is unreachable
1997-01-09 18:48:39 select() or accept() failed: Network is unreachable
1997-01-09 18:48:44 select() or accept() failed: Network is unreachable
1997-01-09 18:48:49 select() or accept() failed: Network is unreachable
1997-01-09 18:48:54 select() or accept() failed: Network is unreachable
1997-01-09 18:48:59 select() or accept() failed: Network is unreachable
1997-01-09 18:49:04 select() or accept() failed: Network is unreachable
1997-01-09 18:49:09 select() or accept() failed: Network is unreachable
1997-01-09 18:49:14 select() or accept() failed: Network is unreachable
1997-01-09 18:49:19 too many select() or accept() errors: giving up
1997-01-09 19:56:24 select() or accept() failed: Connection reset by peer
1997-01-09 21:03:10 select() or accept() failed: Connection reset by peer
1997-01-09 21:07:51 select() or accept() failed: Connection reset by peer
1997-01-09 21:14:23 select() or accept() failed: No route to host
1997-01-09 22:25:19 select() or accept() failed: Connection reset by peer
1997-01-09 22:37:20 select() or accept() failed: Connection reset by peer
1997-01-10 09:34:24 select() or accept() failed: Network is unreachable
1997-01-10 09:34:29 select() or accept() failed: Network is unreachable
1997-01-10 09:34:34 select() or accept() failed: Network is unreachable

Why would exim panic on these conditions?

Also yesterday our T1 was down and we rigged up a modem link to exchange
e-mail. Exim repeatedly simply quit when trying to process mail. There
were a huge number of incoming connections. Is there any limit on those?

If there is a limit then exim should gracefully recover from that
condition and at least leave one exim listening to the SMTP port after the
storm is over.

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