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FOR IMMEDIATE RELEASE
Media Contacts:Yasuhiro Fukagawa, International PR, Tokyo
               (Tel: 03-3578-1237, Fax: 03-5472-7608)

Matsushita Electric Executes Own Share Repurchase

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  Matsushita Electric Industrial Co., Ltd. (NYSE and PCX: MC), best known for its "Panasonic" and "National" brand products, today announced that it has purchased a portion of its own shares from the market in conformity with provisions of Article 210 of the Japanese Commercial Code.
 
  Details of the share repurchase are as follows:
 
1. Class of shares: Common stock
2. Period of purchase: Between January 30, 2003 and February 10, 2003
3. Aggregate purchase amount: 9,494,334,000 yen
4. Aggregate number of shares purchased: 8,000,000 shares
5. Method of purchase: Shares were purchased on the Tokyo Stock Exchange
 
(Reference)

1)	The following are the resolutions that were approved at the ordinary general meeting of shareholders held on June 27, 2002: Class of shares: Common stock Aggregate number of shares to be purchased: Up to 180 million shares Aggregate purchase amount: Up to 300 billion yen

2)	Cumulative total of shares repurchased through February 10, 2003: Aggregate purchase amount: 85,645,752,000 yen Aggregate number of shares purchased: 70,000,000 shares

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