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Matsushita and Sanyo Deny Alliance

Matsushita and Sanyo Comment on Media Reports about Possible Alliance

Matsushita Electric Industrial Co., Ltd. (MEI)(NYSE:MC), best known for its Panasonic brand, commented on the media reports of April 28 in Japan about a possible alliance with SANYO Electric Co., Ltd.

< !-quote-!>quote:

These reports are not based on any official announcement by MEI, and there is no fact that MEI is considering on the alliance.< !-/quote-!>

SANYO issued this statement:

< !-quote-!>quote:

Today there were reports in the media about a possible merger of operations between Matsushita Electric Industrial Co., Ltd. and SANYO Electric Co., Ltd. However, these were not announced by SANYO or Matsushita, and are untrue.< !-/quote-!>

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