Panasonic Sponsors Consumer HDTV Upgrades for Cable Viewers

SECAUCUS , NJ (June 30, 2004) - Panasonic has announced a consumer promotional program to encourage consumers to take the next step in home entertainment and upgrade to high-definition digital TV. Just in time for the 2004 Summer Olympic Games and new high-definition fall programming (where available), Panasonic and America's leading cable companies are bringing the brilliance of high definition to consumers with the "Make It a Panasonic Hi-Def Summer" promotion. Between July 1 and August 31, 2004, consumers who purchase selected Panasonic HDTV or HDTV monitor models and then either activate digital cable with high definition from participating local cable providers or upgrade existing cable service to high- definition service will receive two $50 cable cash checks that can be used to pay for their HD cable service. This promotion is tied in to the OnlyCableCan initiative launched by the Cable & Telecommunications Association for Marketing (CTAM). "We're very excited about our 2004 line of DTVs, and high-definition programming over cable is one of the best ways to enjoy them," said Gene Kelsey, Vice President of Panasonic's Brand Strategy Group. "With so much great HD programming over cable coming this summer and fall, now is definitely the right time to upgrade to one of our high-definition plasma, LCD or rear projection DTVs. "Panasonic has been an Olympic sponsor since 1988 and we are very enthusiastic about the Olympic Games. This is one of the largest campaigns around the Olympic Games, and it gives us the opportunity to communicate our enthusiasm about the future of HD as well. We feel that this is the perfect time to experience high definition and the variety of content that only cable can provide."

All of Panasonic's plasma DTVs, along with three LCD DTVs and three projection DTVs, have the digital access package featuring an integrated ATSC tuner and CableCARD™ slot. The CableCARD functions as a built-in digital cable set-top box, affording consumers yet another option to receive digital TV. Panasonic was the first manufacturer to have its CableCARD-ready displays certified by Cable Labs.

"Consumers who upgrade now to high-definition DTV from Panasonic will see that our attention to detail is matched only by the Olympic athlete's attention to detail," said Ed Wolff, Vice President of Panasonic's Consumer Display Group. "These athletes give their best performance every time - and with our lineup of high-definition DTVs with the integrated digital access package and CableCARD, so do we. Now, through this summer promotion, we're making it even easier for consumers to enjoy that top performance." The OnlyCableCan initiative, spearheaded by the Cable & Telecommunications Association for Marketing (CTAM), unites the top 10 cable companies in a variety of consumer marketing and education efforts. Representing 85% of cable customers in the U.S., the group is comprised of Adelphia Communications, Bright House Networks, Cable One, Cablevision Systems Corporation, Charter Communications, Comcast, Cox Communications, Insight Communications, Mediacom Communications, and Time Warner Cable. About Panasonic
Panasonic Consumer Electronics Company, Division of Matsushita Electric Corporation of America, markets a broad line of digital and other consumer electronics products. Based in Secaucus, N.J., Matsushita Electric Corporation of America is the principal North American subsidiary of Matsushita Electric Industrial Co. Ltd. (NYSE: MC) and the hub of Panasonic's U.S. marketing, sales, service and R & D operations. Additional information on Matsushita Electric Corporation of America and Panasonic is available at www.panasonic.com. Additional company information for journalists is available at www.panasonic.compressroom or through the company's toll-free fax-back system at 888-734-7490.

Note: Beginning July 1, details of the promotion will be available to consumers at www.panasonic.com/cableoffer