PC Panasonic Corp.

Panasonic Corporation (NYSE:PC)(TOKYO:6752)("Panasonic") announced that the company today determined terms and conditions for the issues of unsecured straight bonds in Japan in the aggregate principal amount of 500 billion yen. The basic terms for these domestic unsecured straight bond issues had been approved at Panasonic's board meeting of February 2, 2011.

Panasonic decided to issue the bonds in three series, with maturities of two (2), five (5) and seven (7) years, respectively.

The terms and conditions for each series – namely Panasonic's Ninth, Tenth and Eleventh Series of Unsecured Straight Bonds – are set as follows:

              Series name   Ninth Series   Tenth Series   Eleventh Series

Aggregateprincipal amountto be issued

150 billion yen 200 billion yen 150 billion yen

Denominationof each bond

100 million yen (a single kind)

Coupon rate(per annum)

0.380% 0.752% 1.081% Issue price 100% of the principal amount Interest payment dates

March 20 and September 20 of each year(First interest payment date will be September 20, 2011)

Maturity date March 19, 2013 March 18, 2016 March 20, 2018 Payment date   March 9, 2011  

(Notes)

• Panasonic intends to use the proceeds from the bond issues to repay short-term interest-bearing debt.
• Panasonic set up a shelf registration for the issue of bonds with the maximum possible amount of 500 billion yen on February 2, 2011.

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(This press release does not constitute an offer of securities in the United States. The securities referred to above have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.)