NEXSTAR BROADCASTING GROUP TO CONVERT NEWS OPERATIONS IN 26 MARKETS TO PANASONIC DVCPRO P2

LAS VEGAS, NV (April 23, 2006) – Panasonic announced today that the Nexstar Broadcasting Group, Irving, Texas, has entered into an agreement that will allow it to convert news operations in 26 markets to the DVCPRO P2 solid-state memory recording system. The multi-year agreement includes the purchase of AJ-SPC700 DVCPRO P2 shoulder-mount camcorders, AJ-PS060G portable P2 Store drives, AG-HVX200 DVPCRO P2 HD hand-held camcorders and P2 cards and accessories. Nexstar will begin the conversion with five stations over the next several months. John Baisley, President, Panasonic Broadcast, said, “We are delighted to welcome Nexstar, a top 25 station group, to the DVCPRO P2 family. The no-moving-parts reliability of DVCPRO P2 will allow Nexstar stations to significantly reduce their maintenance budgets, and the virtually unlimited re-use of the P2 card will permit stations to dramatically reduce their media budgets as well. “In addition, DVCPRO P2’s exceptional picture quality and fast workflow will permit Nexstar stations to deliver better looking stories faster to its viewers,” Baisley added. Panasonic’s DVCPRO P2 series products are fully compatible with DVCPRO, the industry’s standard for digital newsgathering, and provide a seamless migration path to DVCPRO HD. DVCPRO P2 offers nonlinear acquisition and instant access to material, high-speed file transfer, laptop field editing without requirement for proxy videos, and compatibility with off-the-shelf data storage drives for low-cost archiving, while eliminating traditional digitizing and ingesting operations. The core DVCPRO P2 products – the AJ-SPX800 camcorder, AJ-SPC700 camcorder, AJ-SPD850 studio recorder and the AJ-PCD10 drive -- eliminate transports and mechanisms, resulting in a significant maintenance cost-savings because of the absence of any moving parts that can break down or wear out from repetitive use. Moreover, DVCPRO P2 products are resistant to environmental extremes including shock, vibration, and humidity. The P2 card is re-usable, allowing a station to substantially reduce its media budget. For more information, visit www.panasonic.com/p2. Nexstar Broadcasting Group, Inc. currently owns, operates, programs or provides sales and other services to 46 television stations in 27 markets in the 11 states. Nexstar’s television station group includes affiliates of NBC, CBS, ABC, FOX and UPN. 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 www.panasonic.com/broadcast.