CHINA CENTRAL TELEVISION (CCTV), MATSUSHITA ELECTRIC AND DAYANG TECHNOLOGY ANNOUNCE COLLABORATION ON DEVELOPMENT OF TV BROADCAST PRODUCTION SYSTEM INCORPORATING DVCPRO P2

LAS VEGAS, NV (April 18, 2004) – China Central Television (CCTV), the largest broadcasting station in China, Matsushita Electric Industrial Co., Ltd. (MEI), best known for its Panasonic brand of consumer electronics and digital broadcast products, and Dayang Technology Development Inc. (Dayang), the leading manufacturer of professional broadcasting equipment in China, have announced an agreement to collaborate on the development of a TV broadcast production system based on Panasonic’s DVCPRO Professional Plug-in (P2) solid-state memory card technology. The production system will be developed with Panasonic DVCPRO P2 solid-state memory technology and nonlinear network technology to integrate newsgathering, editing, content delivery and archiving for the news and documentary programs of CCTV’s Economy Channel. As a part of its preparations for the 2008 Beijing Olympics and the relocation of its premises, CCTV plans to innovate its production workflow, expand the overall network production model, and improve its media asset management system. The agreement will provide DVCPRO P2 technology and MEI’s and Dayang’s expertise required to meet CCTV’s demands, including optimum engineering concepts and operations. With the signing of the project agreement, the scheme design for the content production system for CCTV’s Economy Channel is proceeding. Through the companies’ collaborative efforts, the three organizations will facilitate the drive towards the broadcasting of the 2008 Summer Olympic Games. About China Central Television China Central Television (CCTV) is the largest national TV station in China and one of the leading global media outlets, operating 11 channels that cover over 90% of the population and attract more than 1 billion viewers nationwide. It has offices in 11 countries and regions, as well as in the United Nations, and its subsidiary China International TV Corporation possesses a sales network covering 36 countries to protect the copyright of CCTV’s programs including news, economics, arts, entertainment, military affairs, science, technology and agriculture. For more information, please visit http://www.cctv.com/english/ About Matsushita Electric Industrial Co., Ltd. Matsushita Electric Industrial Co., Ltd., best known for its Panasonic brand name, is a worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the Company recorded consolidated sales of US$61.68 billion for the fiscal year ended March 31, 2003. Matsushita's shares are listed on the Tokyo, Osaka, Nagoya, New York, Euronext Amsterdam and Frankfurt stock exchanges. For more information, visit the Matsushita website at http://panasonic.net/. About Dayang Technology Development Inc. Dayang Technology Development Inc. is highly recognized for its range of professional broadcasting equipment and services in China, providing digital network solutions to organizations such as TV stations and post production houses. With over 70% of the market share in China, Dayang provides advanced technology in nonlinear editing, broadcasting, webcasting, archiving and networking. Further information is available at http://panasonic.net/