Matsushita Electric Executes Own Share Repurchase

Business Wire, June 12, 2008

OSAKA, Japan -- Matsushita Electric Industrial Co., Ltd. (MEI) (NYSE: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