Matsushita to Execute Own Share Repurchase

Business Wire, April 28, 2008

OSAKA, Japan -- Matsushita Electric Industrial Co., Ltd. (NYSE:MC), best known for its Panasonic brand, announced that its Board of Directors today resolved to repurchase its own shares, pursuant to Article 459, Paragraph 1, Item 1 of the Company Law of Japan.

1. Reason for Share Repurchase

This resolution is a part of continuing efforts to enhance shareholder value per share and profitability of capital.

2. Details of Share Repurchase

1) Class of shares: Common stock

2) Aggregate number of repurchasable shares: Up to 50 million shares

(2.0% of the total number of shares issued)

3) Aggregate repurchase amount: Up to 100 billion yen

4) Period of repurchase: From April 30, 2008 to late March 2009

(Reference)

Total 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