Headquarters News

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 Comments on Media Reports
about Possible Sale of its Stake in Victor Company of Japan, Ltd.

Osaka, Japan, June 11, 2007 -- Matsushita Electric Industrial Co., Ltd. (MEI [NYSE symbol: MC]), best known for its Panasonic brand, commented on the press reports of June 10 in Japan about a possible sale of its stake in Victor Company of Japan, Ltd.

The Company is studying all kinds of options from the viewpoint of the enhancement of Matsushita's corporate value, but has not decided anything in regards to the sale of its stake in Victor Company of Japan, Ltd.

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