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Matsushita Electric Industrial Co., Ltd.
Consolidated Balance Sheet **
(As of June 30, 2001)

With Comparative Figures for March 31, 2001
                                               Yen                U.S. Dollars
                                            (millions)             (millions)
                                  June 30, 2001  March 31, 2001   June 30, 2001
Assets
Current assets:
  Cash and deposits                 ¥1,187,242      ¥1,376,023       $  9,575
  Marketable securities                 13,155          11,421            106
  Trade receivables and
   other current assets              1,744,696       1,882,890         14,070
  Inventories                        1,087,115       1,047,615          8,767
    
Total current assets                 4,032,208       4,317,949         32,518
 
Noncurrent receivables                 275,092         246,419          2,219
Investments and advances             1,491,393       1,511,337         12,027
Property, plant and
  equipment, net of
  accumulated depreciation           1,608,930       1,578,061         12,975
Other assets                           528,874         502,522          4,265
 
Total assets                        ¥7,936,497      ¥8,156,288       $ 64,004


Liabilities and Stockholders' Equity

Current liabilities:
  Short-term borrowings             ¥  501,888      ¥  548,459       $  4,047
  Trade payables and    
   other current liabilities         2,014,875       2,144,328         16,249
    
Total current liabilities            2,516,763       2,692,787         20,296

Long-term liabilities                1,127,072       1,123,012          9,089
Minority interests                     560,412         567,809          4,520
Common stock                           210,996         210,994          1,702
Capital surplus                        638,386         621,267          5,148
Legal reserve                           82,979          88,251            669
Retained earnings                    2,886,673       2,924,071         23,280
Accumulated other
  comprehensive income (loss)*         (86,045)        (71,164)          (694)
Treasury stock                            (739)           (739)            (6)
Total liabilities and
  stockholders' equity              ¥7,936,497      ¥8,156,288       $ 64,004


* Accumulated other comprehensive income (loss) breakdown:

                                               Yen                 U.S. Dollars
                                            (millions)              (millions)
                                   June 30, 2001 March 31, 2001    June 30, 2001

Cumulative translation adjustments  ¥ (146,907)     ¥ (150,027)      $ (1,185)
Unrealized holding gains of
  available-for-sale securities     ¥   62,924      ¥   78,863       $    508
Unrealized derivative gains (losses)¥   (2,062)             --       $    (17)

** See notes to consolidated financial statements.

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