Matsushita to close CRT operations in North America and Europe

Matsushita Electric Industrial Co., Ltd. (MEI (NYSE symbol: MC)), best known for its Panasonic brand, today announced plans to discontinue operations at MT Picture Display Germany GmbH (MTPDG) and MT Picture Display Corporation of America (Ohio) – MTPDA (OH) by the end of this fiscal year ending March 31, 2006, and to begin closing/liquidation procedures. MTPDG and MTPDA (OH) are subsidiaries of Matsushita Toshiba Picture Display Co., Ltd. (MTPD), a joint venture of MEI and Toshiba Corporation.