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Matsushita Electric Executes Own Share Repurchase


Osaka, Japan, July 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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