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May 19, 2008

Matsushita Electric to Partially Amend its Articles of Incorporation

Osaka, Japan, May 19, 2008 -- Matsushita Electric Industrial Co., Ltd. (Matsushita [NYSE symbol: MC]), best known for its Panasonic brand, today announced that its Board of Directors resolved to submit a proposal, at the ordinary general meeting of shareholders to be held on June 26, 2008, to partially amend its Articles of Incorporation.

1. Reasons for amendments

On October 1, 2008, the Company will change its trade name from Matsushita Electric Industrial Co., Ltd. to Panasonic Corporation as well as unify brands under the "Panasonic" brand in the Group.
In 2008, the Company marks its 90th anniversary since its establishment, in 1918, as Matsushita Electric Devices Manufacturing Works. It was incorporated in 1935, at which time the trade name was changed to Matsushita Electric Industrial Co., Ltd. Thanks to the generous support of all of its stakeholders, Matsushita has continued to develop through the years, based on an ideal of contributing to society through its business activities.
Through this trade name change, as well as the unification of brands, the Company aims to consolidate the accumulated resources of all business activities throughout the Group under one brand, Panasonic, thereby enhancing the value of the corporate brand. This will greatly benefit the Company in implementing its management philosophy and achieving global excellence.
In addition, the amendment of Article 1 shall become effective as of October 1, 2008, supplementary provisions providing to that effect shall be newly established, and such supplementary provisions shall be eliminated after such amendment has become effective.

2. Details of amendments

The current Articles of Incorporation and the proposed amendments are as follows:

(The changed parts are underlined.)
Current Articles of Incorporation Proposed Amendments
(Trade Name)
Article 1
The Company shall be called Matsushita Denki Sangyo Kabushiki Kaisha, and written in English as Matsushita Electric Industrial Co., Ltd.
(Trade Name)
Article 1
The Company shall be called Panasonic Kabushiki Kaisha, and written in English as Panasonic Corporation.
Article 2 through Article 39
(The descriptions of the Articles are omitted.)
Article 2 through Article 39
(The Articles are unchanged from the current version.)

Supplementary Provisions

1. Transitional Measure Regarding the Number of Shares
Constituting One Unit of Shares
(The descriptions of the Articles are omitted.)
(Newly Established)

Supplementary Provisions

1. 
Transitional Measure Regarding the Number of Shares
Constituting One Unit of Shares
(The Articles are unchanged from the current version.)
2. 
Transitional Measure Regarding the Trade Name

The amendment of Article 1 shall become effective as of October 1, 2008, and the Trade Name shall be as follows in accordance with the prior Trade Name until such amendment becomes effective:

(Trade Name)
Article 1
The Company shall be called Matsushita Denki Sangyo Kabushiki Kaisha, and written in English as Matsushita Electric Industrial Co., Ltd.

This transitional measure will be eliminated after the amendment of Article 1 has become effective.

Media Contacts:

Akira Kadota (Japan)
International PR
(Tel: +81-3-3578-1237)
Panasonic News Bureau (Japan)
(Tel: +81-3-3542-6205)
Jim Reilly (U.S.)
(Tel: +1-201-392-6067)
Anne Guennewig (Europe)
(Tel: +49-611-235-457)

Investor Relations Contacts:

Kazuo Sasaki (Japan)
Investor Relations
(Tel: +81-6-6908-1121)
Yoichi Nagata (U.S.)
Panasonic Finance (America), Inc.
(Tel: +1-212-698-1362)
Hiroko Carvell (Europe)
Panasonic Finance (Europe) plc
(Tel: +44-20-7562-4400)
*The content in the following news releases is accurate at the time of publication but may be subject to change without notice. Please note therefore that these documents may not always contain the most up-to-date information.

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