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A new algorithm, mean field annealing (MFA), is applied to the graph-partitioning problem. The MFA algorithm combines characteristics of the simulated-annealing algorithm and the Hopfield neural network. MFA exhibits the rapid convergence of the neural network while preserving the solution quality afforded by simulated annealing (SA). The rate of convergence of MFA on graph bipartitioning problems is 10-100 times that of SA, with nearly equal quality of solutions. A new modification to mean-field annealing is also presented which supports partitioning graphs into three or more bins, a problem which has previously shown resistance to solution by neural networks. The temperature-behavior of MFA during graph partitioning is analyzed approximately and shown to possess a critical temperature at which most of the optimization occurs. This temperature is analogous to the gain of the neurons in a neural network and can be used to tune such networks for better performance. The value of the repulsion penalty needed to force MFA (or a neural network) to divide a graph into equal-sized pieces is also estimated