Relevant Press Releases

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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
Brendon Gore (Europe)                      (Tel: +44-20-7562-4400)
(Tel: +44-20-8899-2217)

Matsushita Electric Executes Own Share Repurchase

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   Osaka, Japan, May 12, 2006 -- Matsushita Electric Industrial Co., Ltd. (MEI [NYSE symbol: MC]), best known for its Panasonic brand, announced that it has repurchased a portion of its own shares from the market in conformity with provisions of Article 211-3, Paragraph 1, Item 2 of the former Japanese Commercial Code, which applies pursuant to Article 81 of "the Law for Maintenance of Relevant Laws Relating to the Enforcement of the Company Law."

   Details of the share repurchase are as follows:

1. Class of shares: Common stock
2. Period of repurchase: Between May 1, 2006 and May 12, 2006
3. Aggregate number of shares repurchased: 3,641,000 shares
4. Aggregate repurchase amount: 9,998,010,000 yen
5. Method of repurchase: Shares were repurchased on the Tokyo Stock Exchange

(Reference 1)
1)	The following details were resolved at the Board of Directors meeting held on April 28, 2006:
	• Class of shares: Common stock • Aggregate number of repurchasable shares: Up to 50 million shares • Aggregate repurchase amount: Up to 100 billion yen
2)	Cumulative total of shares repurchased since the April 28, 2006 Board of Directors resolution through today: • Aggregate number of shares repurchased: 3,641,000 shares • Aggregate repurchase amount: 9,998,010,000 yen
(Reference 2)
	The number of shares issued and treasury stock as of March 31, 2006: • Total number of shares issued (excluding treasury stock): 2,209,531,991 shares • Treasury stock: 243,521,506 shares

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