Matsushita Electric Executes Own Share Repurchase

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 October 31, 2007 and November 21, 2007
3.Aggregate number of shares repurchased: 9,006,000 shares
4.Aggregate repurchase amount: 19,999,390,000 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 27, 2007:
・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 27, 2007 Board of Directors resolution through today:
・Aggregate number of shares repurchased:34,532,000 shares
・Aggregate repurchase amount:79,996,560,000 yen

(Reference 2)
The number of shares issued and treasury stock as of September 30, 2007:
・Total number of shares issued (excluding treasury stock): 2,120,085,531 shares
・Treasury stock: 332,967,966 shares