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Panasonic Assesses Japan Quake Damage

Panasonic Corporation announced that several Panasonic manufacturing plants and facilities have been affected by the earthquake and tsunami that struck the northern region of Japan on March 11, 2011.

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Unedited press release follows:

Panasonic Effect of Earthquake in the Tohoku Region on Business Operations

Osaka, Japan, March 14, 2011 – Panasonic Corporation ([NYSE:PC/TSE:6752] “Panasonic”) extends its condolences to everyone who has been affected by the major earthquake in the Tohoku region of Japan on March 11, 2011. The effects to our group as of today are as follows.

1. Damage to Panasonic Group (as of March 14, 2011, 11:00 a.m. JST)

(1) Damage to personnel
Some minor injuries to the employees are reported in our group companies, including AVC Networks Company Fukushima Factory (manufacturing digital cameras), AVC Networks Company Sendai Factory (manufacturing optical pickups), Panasonic Electric Works Co., Ltd. Koriyama Factory (manufacturing electronic materials), SANYO Electric Co., Ltd. Gunma Factory (manufacturing washer/dryers etc). We are currently continuing to gather safety information of our personnel.

(2) Damage to equipment and buildings
Any major fire and collapse of buildings are not reported.

(3) Damage to our production
We are suspending operations in the factory affected by the earthquake and continuing to evaluate further details of the damage.

2. Forecast of effect by the damage to our business performances

The damage caused by the earthquake is uncertain at the moment. An announcement will be made promptly if a significant impact on Panasonic’s consolidated financial outlook for fiscal 2011 is foreseen.