PC Panasonic Corp.

Panasonic Corporation (Panasonic)(NYSE:PC) announced that its Board of Directors today resolved to issue straight bonds. Panasonic will offer the bonds in order to secure financial requirement for expanding its business. An outline of the issuance of bonds is as follows: 1. Type of Securities: Unsecured Straight Bonds 2. Amount: Up to 400,000,000,000 yen (The issuance may be made more than once.) 3. Period of Issuance: After January 2009 4. Offering Method: Public Offering in Japan (planned) 5. Purpose of Funding: Capital expenditures, purchases of investment securities including M&A and working capital Details of the issuance of bonds, including the total amount of bonds, offering price, interest rate, maturity and date of issue, will be determined in the later stage. Note: The securities referred to above have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirement.