SOURCE: Matsushita Electric Industrial Co., Ltd.

January 30, 2008 21:30 ET

Matsushita Electric Settles Semiconductor Patent Infringement Suits With Samsung Electronics

OSAKA, JAPAN--(Marketwire - January 30, 2008) - Matsushita Electric Industrial Co., Ltd. (NYSE: MC) announced today the settlement of all patent infringement suits and patent invalidation actions in the United States and Japan between Matsushita Electric and Samsung Electronics Co., Ltd.

As a result of the settlement, Matsushita Electric and Samsung entered into a patent cross-license agreement in the field of semiconductors and will terminate all of the pending actions between the parties. The details of the license agreement will not be disclosed due to confidentiality obligations.

About Matsushita Electric Industrial Co., Ltd.

Best known for its Panasonic brand name, Matsushita Electric Industrial Co., Ltd. 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 net sales of US$77.19 billion for the year ended March 31, 2007. The company's shares are listed on the Tokyo, Osaka, Nagoya and New York (NYSE: MC) stock exchanges. For more information on the company and the Panasonic brand, visit the company's website at http://panasonic.net/.