Panasonic HD Equipment, Featuring P2 Solid-State Recording, Selected for Beijing 2008 Olympic Games.

LAS VEGAS -- Panasonic, the leading brand for which Matsushita Electric Industrial Co., Ltd. (NYSE: MC) is best known, today announced that Panasonic will provide a wide variety of support for broadcast coverage, with its newest high-definition (HD) broadcasting products, of the Beijing 2008 Olympic Games, taking place August 8 - 24 in Beijing, China. The Games of the XXIX Olympiad mark the first time in the history of Olympic television broadcasting that the entire production will be done in high definition.

Panasonic, as a supplier of HD recording equipment for the 2008 Olympic Games, agreed to provide broadcasting equipment to the Beijing Olympic Broadcasting Co. Ltd (BOB). BOB has chosen Panasonic HD equipment for the event because of Panasonic's wide range of HD products, including P2 (solid-state recording) HD equipment such as the new AJ-HPC2000 P2 HD camcorder, the new AJ-HPM100 P2 mobile recorder, the new P2 Station AJ-HPS1500 P2 recorder. According to BOB, BOB is planning to produce all the international television signals in HD and it plans to be 100 percent HD-ready.

The official HD video recording format of the Beijing Games will be DVCPRO HD, and BOB will use a combination of DVCPRO HD tape recording and P2 HD solid state memory recording. Deployed in various competition venues throughout China, the Panasonic HD equipment will be used by BOB and other broadcasters.

"This will be the world's largest sporting event and the most technologically advanced in the history of the Olympic Games. BOB surveyed the market very carefully to ensure that we will be using the most sophisticated and reliable technology currently available," said Manolo Romero, the CEO of BOB. "BOB has been very happy with the performance of Panasonic digital products since we first used them in the Barcelona Olympic Games in 1992, and now the recently expanded HD portfolio -- particularly the broad range of advanced HD products -- is quite impressive."

Panasonic offers a range of high-quality HD solutions to meet every application and every budget. For numerous applications to be used at this prestigious international sporting event, BOB chose the compact, versatile AG-HVX200 multi-source camcorder. The award-winning AG-HVX200 or similar future models, which combine P2 HD superiority and cost-effective solutions in a hand-held camcorder, are ideal for certain applications, which require flexibility.

"We are pleased that BOB continues to turn to Panasonic products for this high-profile High Definition TV production," said Tadao Shimozuru, Director of Matsushita Electric's Professional System AV Business Unit. "From a technology perspective, this Beijing Olympic Games will be particularly exciting. We are pleased that BOB as well as other broadcasters -- and the global audience for the coming historic event -- will benefit from Panasonic's efforts to deliver advanced, practical HD solutions as the industry transitions to high definition."

Panasonic has been an Official Worldwide Olympic Partner since 1988. For more information on Panasonic Olympic Games activities, please see: http://panasonic.co.jp/olympic/

About Panasonic

Best known by its Panasonic brand name, Matsushita Electric Industrial Co., Ltd. is a worldwide leader in the development and manufacture of High Definition professional video products as well as electronic products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the company recorded consolidated net sales of US$81.44 billion for the year ended March 31, 2005. The company's shares are listed on the Tokyo, Osaka, Nagoya, New York (NYSE:MC), Euronext Amsterdam and Frankfurt stock exchanges. For more information on the company and the Panasonic brand, visit the company's website at http://panasonic.net/index.html.