Matsushita Shareholders Approve Name Change to "Panasonic Corporation"

Thu Jun 26, 2008 3:27pm EDT

* Reuters is not responsible for the content in this press release.

  OSAKA,  JAPAN, Jun 26 (MARKET WIRE) -- 
Matsushita Electric Industrial Co., Ltd. (NYSE: MC), best known for its
Panasonic brand products, today announced its shareholders approved a
proposal to change the company's name to "Panasonic Corporation" at its
101st Annual Shareholders' Meeting that was held today. The change will
become effective from October 1, 2008. The name change will also take
effect for some of the group companies currently using the names
Matsushita or National. The shareholders of each of these companies
approved that this move would also become effective from October 1, 2008.
In addition, Matsushita announced its ticker symbol change on the New
York Stock Exchange from "MC" to "PC" as of October 1, 2008.

    The brand changeover from National to Panasonic to be phased-in across
Japan commencing October 1, 2008 has started earlier than the original
plan, expected to complete within fiscal year 2010 ending March 2010.
Currently, the National brand is used for home appliances and housing
equipments in Japan.

    When it was first established in 1918 the company was known as Matsushita
Electric Housewares Manufacturing Works, which was changed to Matsushita
Electric Manufacturing Works in 1929. The company has been using the name
Matsushita Electric Industrial Co., Ltd. since its incorporation as a
joint stock corporation in 1935. While the company used the National and
Panasonic brand names over a long period, it decided in 2003 to unify its
global brand to Panasonic with the brand slogan "Panasonic ideas for
life."

    With this company name change and brand unification, the Panasonic
Corporation will celebrate its 90th anniversary this year. The company
will bring the achievements accumulated through the three different names
of Matsushita, National, and Panasonic, under the one single umbrella name
of Panasonic.

    The new Panasonic Corporation has renewed its group-wide commitment to
putting the company's management philosophies into practice throughout the
world -- to enhance its brand value and strive to become a globally
excellent company.

    About Panasonic

    Best known for its Panasonic brand name, Matsushita Electric Industrial
Co., Ltd. is a worldwide leader in the development and manufacture of
electronic products for a wide range of consumer, business, and industrial
needs. Based in Osaka, Japan, the company recorded consolidated net sales
of 9.07 trillion yen (approx. US$90.52 billion) for the year ended March
31, 2008. The company's shares are listed on the Tokyo, Osaka, Nagoya and
New York (NYSE: MC) stock exchanges. For more information on the company
and the Panasonic brand, visit the company's website at
http://panasonic.net/.

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