Pentinum III known problems

I just purchased a bare bones system thru Fry’s which included a Pentinum III 1GHz processor. I was unable to get even as far as having the monitor to come on. Well I found that as soon as I put the processor chip in, the power supply began acting exactly like I’ve seen before when there was
a short in the motherboard or a component in a system. The power supply fan would spin for about 1-2 seconds and stop. When I remove the processor chip it spins forever.
Have you heard of any such problems with the Pentinum III? I realize it may not be the actual culprit and I’m proceding to troubleshoot further with the motherboard.
Thanks for your time.

Rich