Mar 23, 2007

Press Release

FOR IMMEDIATE RELEASE

Media Contacts:                 Investor Relations Contacts:

Akira Kadota (Japan)            Makoto Mihara (Japan)
International PR                Investor Relations
(Tel: +81-3-3578-1237)          (Tel: +81-6-6908-1121)

Panasonic News Bureau (Japan)   Akihiro Takei (U.S.)
(Tel: +81-3-3542-6205)          Panasonic Finance (America), Inc.
                                (Tel: +1-212-698-1365)
Jim Reilly (U.S.)
(Tel: +1-201-392-6067)          Hiroko Carvell (Europe)
                                Panasonic Finance (Europe) plc
Munetsugu Takeda (Europe)       (Tel: +44-20-7562-4400)
(Tel: +49-611-235-305)

Matsushita Electric Executes Own Share Repurchase

Osaka, Japan, March 23, 2007 -- 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 February 27, 2007 and March 23, 2007
3.Aggregate number of shares repurchased: 12,698,000 shares
4.Aggregate repurchase amount: 29,999,445,000 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 February 1, 2007:
	・Class of shares: Common stock
	・Aggregate number of repurchasable shares: Up to 25 million shares
	・Aggregate repurchase amount: Up to 50 billion yen
2)	Cumulative total of shares repurchased since the February 1, 2007 Board of Directors resolution through today:
	・Aggregate number of shares repurchased: 21,092,000 shares
	・Aggregate repurchase amount: 49,997,930,000 yen
3)	Cumulative total of shares repurchased since April 28, 2006 through today:
	・Aggregate number of shares repurchased: 62,088,000 shares
	・Aggregate repurchase amount: 149,989,800,000 yen

(Reference 2)

	The number of shares issued and treasury stock as of December 31, 2006:
	・Total number of shares issued (excluding treasury stock): 2,171,855,027 shares
	・Treasury stock: 281,198,470 shares

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