SECAUCUS, NJ (February 13, 2007) - Panasonic introduced today the AG-HPX500, a new shouldermounted P2 HD camcorder that teams the full production-quality of 2/3" 3-CCDs, DVCPRO HD, 4:2:2 sampling and independent frame encoding with the versatility of interchangeable lenses and the creativity of variable frame rates.

Offering the highly popular features of the incredibly successful AG-HVX200 P2 HD hand-held camcorder but with many new enhancements, the 8.2-pound AG-HPX500 features progressive 2/3" 3-CCDs to assure outstanding image quality, superb low-light performance, and wide viewing angles. The HPX500 records in 32 high definition and standard definition formats, including 1080i and 720p in productionproven, 100 Mbps DVCPRO HD. The AG-HPX500 records on removable P2 solid-state memory cards in 1080/60i, 50i, 30p, 25p and 24p; in 720/60p, 50p, 30p, 25p, and 24p; and in DVCPRO50, DVCPRO and DV. The camcorder features a high-performance digital signal processor (DSP) with 14-bit A/D conversion and 19-bit inner processing that handles HD /SD format conversion simultaneously – ensuring spectacular images in all video formats for applications ranging from news acquisition, independent filmmaking, corporate video, sports and much more.

"The full 2/3" production quality AG-HPX500 sets a new value benchmark and will quickly distinguish itself as the workhorse camera for the vast range of professional applications," said Robert Harris, Vice President, Marketing, Panasonic Broadcast. "The camcorder's P2 HD solid-state reliability, IT system flexibility and workflow speed, combined with the DVCPRO HD quality is unparalleled in the pro video industry."

The Ultra Reliability and Fast IT Workflow of P2 HD

Offering solid-state reliability with no moving parts like tape or disc-based systems and a faster IT workflow, the AG-HPX500 has four P2 card slots and can record up to 64 minutes in DVCPRO HD,128 minutes in DVCPRO 50 and 256 minutes in DVCPRO on four 16GB P2 cards. The camera also supports Native Mode recording in 720p that can significantly increase record times. Other key operational benefits provided by P2 HD technology includes instant recording startup, clip thumbnail view for immediate access to video content on all cards, and a host of recording modes including continuous, card selector, hot swapping, loop, pre-record (three seconds in HD and seven seconds in SD), one-shot and interval. The camera also features an SD memory card slot for saving or loading scene files and user settings.

The Creative Flexibility of Variable Frame Rates

Drawing on capabilities originally developed for the VariCam, the HPX500 features variable frame rates for undercranking and overcranking to create fast- or slow-motion effects. In 720p, users can set frame rates in 24p, 30p or 25p in any of 11 steps between 12fps and 60fps (or 50p). In addition, with the camera's advanced 1080/480 24pA mode, users have the option of using 2:3:3:2 pull down, which allows most nonlinear editing systems to extract 24 frames on ingest.

The camcorder is equipped with eight gamma modes to address a wide range of shooting situations, including Cine-like Gamma to create film-like recordings. Key interfaces include IEEE 1394, USB 2.0, HD SDI/SDI, analog component and four audio XLR inputs. The HPX500 also offers a 4-channel 48-kHz/16- bit digital audio with options to select audio sources. The camera is also equipped with a variety of shooting assist functions and presets.

The HPX500 provides a Chromatic Aberration Compensation (CAC) function that allows the camera to automatically compensate the registration error that is caused mainly by lens chromatic aberration, and minimize the circumjacent blur. Lenses that work with the HPX500's CAC function include Canon KJ10ex4.5B IRSD PS12, KJ16ex7.7B IRSD PS12 and KJ21ex7.6B IRSD PS12; and Fujinon XA17x7.6BERM-M58B and XA17x7.6BRM-M58B.

The AG-HPX500 will be available in May 2007 at a suggested list price of $14,000.

About P2 HD

P2 HD products offer solid-state high definition recording without the mechanical wear and environmental limitations of tape, hard disk, and optical disc based systems. P2 HD ensures the highest reliability, especially in challenging conditions of extreme temperature range, shock, and vibration. P2 HD products provide a significant reduction in maintenance costs, longer useful product life, and immediate access to recorded video (no need to digitize, ingest or create proxy video files) and metadata. P2 HD provides the reliability of solid-state production; the immediate connectivity to existing IT infrastructures; the speed, ease of use and portability of P2 cards; and the interoperability with leading NLE systems.

About Panasonic Broadcast

Panasonic Broadcast & Television Systems Co. is a leading supplier of broadcast and professional video products and systems. Panasonic Broadcast is a unit company of Panasonic Corporation of North America. The company is the North American headquarters of Matsushita Electric Industrial Co., Ltd. (NYSE: MC) of Japan, and the hub of its U.S. marketing, sales, service and R&D operations. For more information on Panasonic Broadcast products, access the company's web site at