Relevant Press Releases

FOR IMMEDIATE RELEASE
Media Contacts: Akira Kadota, International PR, Tokyo
                Matsushita Electric Industrial Co., Ltd.
                (Tel: 03-3578-1237, Fax: 03-3437-2776)
                Yasuharu Enda, International PR, Tokyo
                Matsushita Communication Industrial Co., Ltd.	
                (Tel: 03-3438-9203  Fax: 03-3438-9203)

Matsushita Electric Industrial Co., Ltd. (MEI), and its principal subsidiary Matsushita Communication Industrial Co., Ltd. (MCI), today announced plans to integrate several domestic sales subsidiaries of MCI in efforts to enhance efficient use of management resources of factory automation (FA) and public systems businesses. First, effective April 1, 2002, FA equipment-use electronic measuring instrument businesses at four of MCI's relevant sales subsidiaries in Japan, namely Tohoku National Electronic Measurement Co., Ltd., Chubu Panasonic Total Automation Co., Ltd., Osaka National Electronic Measurement Co., Ltd., and Kyushu National Electronic Measurement Co., Ltd., will be transferred to Metropolitan Area Panasonic FA Co., Ltd., another Tokyo-based sales subsidiary of MCI.

Second, the public systems marketing functions of Chubu Panasonic Total Automation Co., Ltd. and Osaka National Electronic Measurement Co., Ltd. will be transferred to Panasonic Engineering Co., Ltd., also an MCI subsidiary, effective the same date.

After completion of these business transfers, the above-named four MCI subsidiaries will be liquidated through due procedures.

Through these reorganizations, the Matsushita Group aims to establish an efficient, integrated FA-use measuring instrument marketing structure, while at the same time strengthening its foundation for expansion of public systems business and related engineering service capabilities.

(Please see below for basic information, and financial results for the MCI subsidiaries to be dissolved)

(1) Tohoku National Electronic Measurement Co., Ltd.
Representative                      Tetsuro Yoneda, Managing Director 
Location of head office             Sendai, Japan
Date of incorporation               March 21, 1970
Principal Business                  Sales of FA and measuring equipment
Share capital                       10 million yen
Number of employees                 34
Total number of outstanding shares  20 thousand shares of common stock
Shareholders' equity                443 million yen
Total assets                        653 million yen
Principal customers                 Alpine Electronics, Inc., 
                                    Alps Electric Co., Ltd.
Bank reference                      The Asahi Bank, Ltd.

(2) Chubu Panasonic Total Automation Co., Ltd.
Representative                      Ikuo Yoshida, Managing Director
Location of head office             Nagoya, Japan
Date of incorporation               April 21, 1965
Principal Business                  Sales of FA and measuring equipment, and wireless
                                    and office automation (OA) products
Share capital                       20 million yen
Number of employees                 129
Total number of outstanding shares  40 thousand shares of common stock
Shareholders' equity                5,907 million yen
Total assets                        6,767 million yen
Principal customers                 Seiko Epson Corporation,
                                    Chubu Electric Power Co., Inc.,
                                    Aichi Prefecture Police Department
Bank reference                      The Asahi Bank, Ltd.

(3) Osaka National Electronic Measurement Co., Ltd.
Representative                      Hiroshi Daikoku, Managing Director
Location of head office             Osaka, Japan
Date of incorporation               September 21, 1959
Principal Business                  Sales of FA and measuring equipment, 
                                    and wireless and OA products
Share capital                       20 million yen
Number of employees                 140
Total number of outstanding shares  4 thousand shares of common stock
Shareholders' equity                1,452 million yen
Total assets                        3,340 million yen
Principle customers                 Wakayama Prefecture Police Department,
                                    Hanshin Expressway Public Corporation,
                                    Matsushita Electric Industrial's Semiconductor Company
Bank reference                      Sumitomo Mitsui Banking Corporation

(4) Kyushu National Electronic Measurement Co., Ltd.
Representative                      Hiroshi Machida, Managing Director
Location of head office             Fukuoka, Japan
Date of incorporation               June 21, 1969
Principal Business                  Sales of FA and measuring equipment and OA products 
Share capital                       10 million yen
Number of employees                 21
Total number of outstanding shares  20 thousand shares of common stock
Shareholders' equity                144 million yen
Total assets                        379 million yen
Principle customers                 Mitsubishi Heavy Industries, Ltd.,
                                    Kyushu Matsushita Electric,
                                    Kyocera Corporation          
Bank reference                      Sumitomo Mitsui Banking Corporation