In the Anderson lattice model for a mixed-valent system, the d-f hybri
dization can possess a p-wave symmetry. The strongly correlated insula
ting phase in the mean-field approximation is shown to be a p-wave Bos
e condensate of excitons with a spontaneous lattice deformation. We st
udy the equilibrium and linear response properties across the insulato
r-metal transition. Our theory supports the empirical correlation betw
een the :lattice deformation and the magnetic susceptibility and predi
cts measurable ultrasonic and high-frequency phonon behavior in mixed-
valent semiconductors.