Relevant Press Releases

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 Comments on Media Reports about Possible Sale of its Stake in Victor Company of Japan, Ltd.

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Osaka, Japan, December 23, 2006 -- Matsushita Electric Industrial Co., Ltd. (MEI [NYSE symbol: MC]), best known for its Panasonic brand, commented on today's press reports in Japan about a possible sale of its stake in Victor Company of Japan, Ltd.

The Company has not decided anything in regards to the sale of its stake in Victor Company of Japan, Ltd.

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