Matsushita Electric Industrial Co., Ltd. Announces Notice Regarding Determination of Offer Price and Other Terms of Secondary Offering of Shares

Business Wire, Sept 11, 2006

OSAKA, Japan -- Matsushita Electric Industrial Co., Ltd. (NYSE symbol: MC), best known for its Panasonic brand, today announced that it has determined the offer price and other terms in connection with the secondary offering of its shares, which was resolved at a meeting of its Board of Directors held on August 28, 2006.

1. Offer Price:                                2,366 yen per share

 2. Aggregate Amount of the Offer Price:        96,890,066,000 yen

 3. Underwriting Price:                         2,299.58 yen per share

 4. Aggregate Amount of Underwriting Price:     94,170,100,580 yen

 5. Offer Period: From September 12 to September 14, 2006

 6. Delivery date: September 21, 2006

(Note) The underwriters shall underwrite all the shares to be offered
       at the Underwriting Price and offer them at the Offer Price in
       a public offering in Japan.

(Reference)

Determination of Offer Price

-- Offer Price Determination date:                  September 11, 2006
-- Closing Price on Tokyo Stock Exchange, Inc:              2,415  yen
-- Applied Discount Rate:                                        2.03%

The purpose of this press release is to make a general public statement of the sale of shares of common stock of Matsushita Electric Industrial Co., Ltd. outside of the United States and certain other matters. It has not been prepared for the purpose of soliciting investments in such common stock. Such common stock may not be and has not been registered under the United States Securities Act of 1933, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.