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Jul 14, 2008

FOR IMMEDIATE RELEASE

Media Contacts:               Investor Relations Contacts:

Akira Kadota (Japan)          Kazuo Sasaki (Japan)
International PR              Investor Relations 
(Tel: +81-3-3578-1237)        (Tel: +81-6-6908-1121)
          
Panasonic News Bureau (Japan) Yoichi Nagata (U.S.) 
(Tel: +81-3-3542-6205)        Panasonic Finance (America), Inc.
                              (Tel: +1-212-698-1362)
Jim Reilly (U.S.)
(Tel: +1-201-392-6067)        Hiroko Carvell (Europe)
                              Panasonic Finance (Europe) plc
Anne Guennewig (Europe)       (Tel: +44-20-7562-4400)
(Tel: +49-611-235-457)

Matsushita Electric Executes Own Share Repurchase

Osaka, Japan, July 14, 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 July 1, 2008 and July 14, 2008
3. Aggregate number of shares repurchased: 6,529,000 shares
4. Aggregate repurchase amount: 14,998,330,000 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
	・Period of repurchase: From April 30, 2008 to late March 2009
2)	Cumulative total of shares repurchased since the April 28, 2008 Board of Directors resolution through today:
	・Aggregate number of shares repurchased: 23,164,000 shares
	・Aggregate repurchase amount: 54,997,780,000 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

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