Thomson and Panasonic Announce Manufacturing and Mutual Distribution Agreements
Tokyo/Paris/Secaucus, NJ – November 19, 2003 – Thomson (Euronext Paris: 18453; NYSE: TMS), a leading provider of end-to-end solutions (technologies, equipment and services) to the entertainment industries, and Matsushita Electric Industrial Co., Ltd. (NYSE: MC), a global leader in developing and manufacturing consumer and industrial electronics, best known for its Panasonic brand products, today announced OEM and mutual distribution agreements.

In today’s joint announcements, the two broadcast equipment giants revealed a distribution agreement in which Panasonic will integrate the award-winning Grass Valley™ line of Profile® family servers and M-Series™ iVDR products, into its systems solutions worldwide. The two companies also announced an original equipment manufacturing (OEM) agreement in which Thomson will continue its sales and support of the Panasonic DVCPRO products and will purchase and distribute additional Thomson-brand products from Panasonic, including its popular line of LCD professional monitors.

“With its Emmy® Award-winning Profile platform and leading market share position, Thomson’s expertise in video servers is clear,” said Yoshihiko Yamada, Vice President for Systems Business Group at Panasonic AVC Networks Company. “As a technology leader, Panasonic is extremely pleased to be able to leverage our world-class systems solutions to expand access to this popular product – as well as the revolutionary new M-Series iVDR products.”

“We are delighted to expand what has been a very successful distribution effort with Panasonic for their best-in-class professional digital camcorders and VTRs to include their latest line of LCD professional monitors,” said Marc Valentin, president of Thomson Broadcast & Media Solutions. “The agreement with Panasonic opens significant worldwide growth opportunities for Thomson and its Content and Networks division in the Pacific Region. We look forward to working together to provide long-term, rewarding benefits for our mutual customers.”

About the OEM Agreement

Under the new OEM agreement with Panasonic, Thomson will continue to distribute a series of Panasonic DVCPRO VTR products. The DVCPRO format is an affordable choice for digital production and fast, on-air newsgathering. Since its introduction, its compact form, robust features, and the playback capabilities of the format — as well as those of DVCPRO-based camcorders, field editing equipment, and studio equipment — have made it the standard choice for news teams and production houses worldwide.

Comprising both HD and SD models, Panasonic’s BT series LCD monitors combine thin profile and light weight with the superior picture quality and performance needed for broadcast use. With ultra-sharp resolution and the industry’s widest viewing angle, they are equipped to serve in a studio, OB van, non-linear editing system, or on location in the field.

About the Products for Distribution Agreement

With an all-digital design and a familiar touch-screen interface, the M-Series iVDR line easily supports traditional VTR capabilities, including playback, record, removable media, and the ability to transfer data directly from a camera – or connect directly with a camera. Yet it eclipses traditional VTR capabilities by supporting multiple channels, simultaneous playout and recording, robust network support, clip editing and trimming, playlist creation, and the ability to exchange materials with a variety of applications using industry-standard protocols.

The Profile line is used to store more of the world’s broadcast content than any other product. It is also the industry’s most flexible platform, supporting multiple compression formats and standard- and high-definition (SD and HD) materials – and the ability to support SD and HD materials on the same server and the same timeline.

Thomson and Panasonic are working together in many areas, including Thomson’s recently-announced endorsement of Panasonic’s Professional Plug-in (P2) technology, a solid-state memory-based technology for broadcasting and production that will contribute to accelerate the end-to-end solution business.

Certain statements in this press release, including any discussion of management expectations for future periods, constitute "forward-looking statements" within the meaning of the "safe harbor" of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management‘s current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements due to changes in global economic and business conditions, consumer electronics markets, and regulatory factors. More detailed information on the potential factors that could affect the financial results of Thomson is contained in Thomson’s filings with the U.S. Securities and Exchange Commission.

This press release includes forward-looking statements (within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934) about Matsushita and its group companies (the Matsushita Group). To the extent that statements in this press release do not relate to historical or current facts, they constitute forward-looking statements. These forward-looking statements are based on the current assumptions and beliefs of the Matsushita Group in light of the information currently available to them, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause the Matsushita Group's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. Matsushita undertakes no obligation to publicly update any forward-looking statements after the date of this press release. Investors are advised to consult any further disclosures by Matsushita in its subsequent filings with the U.S. Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934.
The risks, uncertainties and other factors referred to above include, but are not limited to, economic conditions, particularly consumer spending and corporate capital expenditures in the United States, Europe, Japan and other Asian countries; volatility in demand for electronic equipment and components from business and industrial customers, as well as consumers in many product and geographical markets; currency rate fluctuations, notably between the yen, the U.S. dollar, the euro, Asian currencies and other currencies in which the Matsushita Group operates businesses, or in which assets and liabilities of the Matsushita Group are denominated; the ability of the Matsushita Group to respond to rapid technological changes and changing consumer preferences with timely and cost-effective introductions of new products in markets that are highly competitive in terms of both price and technology; the ability of the Matsushita Group to realize expected benefits of various restructuring activities in its business and organization; the ability of the Matsushita Group to achieve its business objectives through joint ventures and other collaborative agreements with other companies; the ability of the Matsushita Group to maintain competitive strength in many product and geographical areas; current and potential, direct and indirect restrictions imposed by other countries over trade, manufacturing, labor and operations; and fluctuations in market prices of securities and other assets in which the Matsushita Group has holdings; as well as future changes or revisions to accounting policies or accounting rules.

About Thomson
Thomson (Euronext Paris: 18453; NYSE: TMS) provides end-to-end solutions (technologies, equipment and services) to the entertainment industries. To advance and enable the digital media transition, Thomson has four principal divisions: Content and Networks, Consumer Products, Components, and Licensing. The company distributes its products under the Technicolor, Grass Valley, THOMSON and RCA brand names. For more information:

As part of Thomson Digital Media Solutions division, the Broadcast and Media Solutions activity delivers products and solutions for broadcast and TV/Film professionals under its Grass Valley brand. These open, integrated digital products that work together along the entire digital video chain to support a variety of workflows, from content capture and acquisition through production, post production, and transmission. With a proven track record in broadcast, including 17 Emmy® and multiple industry awards, it offers an award-winning, robust product portfolio that touches more high-quality content than any other; product and systems expertise that has yielded hundreds of patents and a number of industry standards; and worldwide software engineering expertise and customer support teams that are second to none.

For information about Grass Valley products from Thomson please visit

About Matsushita Electric Industrial Co., Ltd. (Panasonic)
Matsushita Electric Industrial Co., Ltd., best known for its Panasonic brand name, is a worldwide leader in the development and manufacture of electronics products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the company recorded consolidated sales of US$61.7 billion for the fiscal year ended March 31, 2003. Matsushita‘s shares are listed on the Tokyo, Osaka, Nagoya, Fukuoka, Sapporo, New York (NYSE: MC), Pacific, Euronext Amsterdam, Euronext Paris, Frankfurt, and Dusseldorf stock exchanges.

Panasonic AVC Networks Company is a unit of Matsushita Electric Industrial Co. Ltd. The Company offers a wide variety of innovative digital products for modern lifestyles, all built around a "3D Value Chain" of core technologies, to include SD Memory Card, DVD and Digital Television. Among the company's many popular offerings are cutting-edge DVD players and recorders; LCD, direct-view, projection and plasma digital televisions; and SD-enabled multimedia products.

For more information, please visit the Matsushita Web site at