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Jun 12, 2008

Matsushita Electric Executes Own Share Repurchase

Osaka, Japan, June 12, 2008 -- 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 20, 2008 and June 12, 2008
3. Aggregate number of shares repurchased: 16,635,000 shares
4. Aggregate repurchase amount: 39,999,450,000 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 28, 2008:
  ・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 28, 2008 Board of Directors resolution through today:
  ・Aggregate number of shares repurchased: 16,635,000 shares
・Aggregate repurchase amount: 39,999,450,000 yen

(Reference 2)

  The number of shares issued and treasury stock as of March 31, 2008:
・Total number of shares issued (excluding treasury stock): 2,101,117,156 shares
・Treasury stock: 351,936,341 shares

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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