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Headquarters News

May 11, 2007
FOR IMMEDIATE RELEASE

Media Contacts:                 Investor Relations Contacts:

Akira Kadota (Japan)            Makoto Mihara (Japan)
International PR                Investor Relations
(Tel: +81-3-3578-1237)          (Tel: +81-6-6908-1121)

Panasonic News Bureau (Japan)   Akihiro Takei (U.S.)
(Tel: +81-3-3542-6205)          Panasonic Finance (America), Inc.
                                (Tel: +1-212-698-1365)
Jim Reilly (U.S.)
(Tel: +1-201-392-6067)          Hiroko Carvell (Europe)
                                Panasonic Finance (Europe) plc
Munetsugu Takeda (Europe)       (Tel: +44-20-7562-4400)
(Tel: +49-611-235-305)

Matsushita Electric Executes Own Share Repurchase



Osaka, Japan, May 11, 2007 -- Matsushita Electric Industrial Co., Ltd. (MEI [NYSE symbol: MC]), best known for its Panasonic brand, announced that it has repurchased a portion of its own shares from the market in conformity with provisions of Article 459, Paragraph 1, Item 1 of the Company Law of Japan.

Details of the share repurchase are as follows:

1.Class of shares: Common stock
2.Period of repurchase: Between May 1, 2007 and May 11, 2007
3.Aggregate number of shares repurchased: 4,107,000 shares
4.Aggregate repurchase amount: 9,999,450,000 yen
5.Method of repurchase: Shares were repurchased on the Tokyo Stock Exchange

(Reference 1)

1) The following details were resolved at the Board of Directors meeting held on April 27, 2007:
  ・Class of shares: Common stock
・Aggregate number of repurchasable shares: Up to 50 million shares
・Aggregate repurchase amount: Up to 100 billion yen
2) Cumulative total of shares repurchased since the April 27, 2007 Board of Directors resolution through today:
  ・Aggregate number of shares repurchased: 4,107,000 shares
・Aggregate repurchase amount: 9,999,450,000 yen

(Reference 2)

  The number of shares issued and treasury stock as of March 31, 2007:
・Total number of shares issued (excluding treasury stock): 2,146,284,458 shares
・Treasury stock: 306,769,039 shares


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