NAIS-IS Announces an Ownership Change System

NAIS-IS Announces an Ownership Change System

Matsushita Electric Works Information Systems Co., Ltd. (NAIS-IS) announced today that Matsushita Electric Industrial Co., Ltd. became its parent company, with the details as follows:

1. Reason for and the effective date of the change

(1) Reason for the change
On December 19, 2003, a resolution was passed at the meeting of the board of directors of Matsushita Electric Industrial Co., Ltd., the major shareholder of Matsushita Electric Works, Ltd., which is the parent company of NAIS-IS, for a tender offer to acquire Matsushita Electric Works, Ltd. and to make this as its subsidiary. On the same day, a resolution was passed at the meeting of the board of directors of Matsushita Electric Works, Ltd. to approve the said tender offer. The tender offer took place between January 28 and March 25, 2004. Though this tender offer to Matsushita Electric Works, Matsushita Electric Industrial Co., Ltd. acquired 140,550,000shares of the common stock, and the percentage of voting rights owned by Matsushita Electric Industrial Co., Ltd. increased to 52.7%. Thus, Matsushita Electric Industrial Co., Ltd became a parent company of NAIS-IS.

(2) Effective date
April 1, 2004 (scheduled date)

2. Description of the new parent company

(1) Name of the company:
Matsushita Electric Industrial Co., Ltd.
(2) Address of the head office:
1006, Kadoma, Kadoma City, Osaka
(3) Representative:
Mr. Kunio Nakamura, President
(4) Amount of capital:
258,738 million yen (as of September 30, 2003)
(5) Main business:
Manufacturing and sales of electric and electronic devices

3. Number of owned shares and the ownership ratio of Matsushita Electric Industrial Co., Ltd. prior to and subsequent to the change

Date	Number of Voting Rights	Number of Owned Shares	Ratio of Ownership to the Total Number of Voting Rights
Prior to the change	None (None)	None (None)	0% (0%)
Subsequent to the change	34,116 rights (34,116 rights)	34,116 shares (34,116 shares)	64.03% (64.03%)

Notes:

1. The figures shown in parentheses represent the numbers of which owned indirectly.
2. The ratio is calculated from the total number of issued shares, 53,278; and total number of existing voting rights, 53,280. (as of November 30, 2003)

4. Other information

From this point forward, both Matsushita Electric Industrial Co., Ltd. and Matsushita Electric Works, Ltd. are the parent companies of NAIS-IS.