LAS VEGAS, NV (January 5, 2005) - Matsushita Electric Industrial Co., Ltd. (Panasonic), Mitsubishi Electric Corporation (Mitsubishi Electric) and Sony Corporation (Sony), today announced that they agreed to establish an alliance for high-speed power line communication (PLC) specifications. These specifications will allow smooth interface between different systems using electric power lines for audio, video and data networking. The new alliance, tentatively called the CE-Powerline Communication Alliance (CEPCA), will promote PLC-capable home networking worldwide by encouraging other consumer electronics and information technology companies to collaborate.

PLC is considered a critical bi-directional communication channel that will support home networking into the future. It will use existing electric power lines in the home to enable high definition video transmission and the use of IP telephones.

Recent technology advances have seen the growth in home networks to connect a variety of products like computers and appliances that can also be accessed remotely. There is a growing demand for ease of access and smooth interconnectivity. Home networks connected to powerlines will have authentication and encryption functions so that PLC ensures safe and secure home networking. PLC offers more solutions with multiple networking access points and plug-and-play features. This makes accessing networks simple.

Building a PLC-based home networking requires overcoming difficulties in interoperability between different manufacturers' products. Panasonic, Mitsubishi Electric and Sony have been working collaboratively in interface technologies and the potential applications of home networking based on high-speed powerline communication. The result is the CEPCA promoting common PLC specifications for different makers of PLC-based products.

The new not-for-profit alliance will encourage consumer electronics and information technology companies worldwide to establish an environment where access to PLC-based home networking is available globally. At formation of the alliance, three companies commented as follows:

Panasonic
"By adopting the specifications of this alliance, consumers can enjoy the benefits of home network without the worry of different PLC systems."

Mitsubishi Electric
"'CEPCA' will allow consumers increased access to data networking and will make a more comprehensive network with less compatibility problems."

Sony
"This alliance brings the reality of home networking and its benefits and applications into the homes of the users."

About Panasonic (Matsushita Electric Industrial Co., Ltd.)
Matsushita Electric Industrial Co., Ltd., best known for its Panasonic brand name, 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 sales of US$71.92 billion for the fiscal year ended March 31, 2004. Matsushita's shares are listed on the Tokyo, Osaka, Nagoya, New York (NYSE:MC), Euronext Amsterdam and Frankfurt stock exchanges. For more information on the company and its Panasonic brand, visit the Matsushita website at http://panasonic.net/.

About Mitsubishi Electric Corporation
With over 80 years if experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, Mitsubishi Electric Corporation (TSE: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. The company recorded consolidated group sales of 3,309 billion yen (US$31.2 billion*) in the fiscal year ended March 31, 2004. For more information visit http://global.mitsubishielectric.com.
*at an exchange rate of 106 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2004.

About Sony Corporation
Sony Corporation is a leading manufacturer of audio, video, game, communications, key device and information technology products for the consumer and professional markets. With its music, pictures, computer entertainment and on-line businesses, Sony is uniquely positioned to be the leading personal broadband entertainment company in the world. Sony recorded consolidated annual sales of approximately $72 billion for the fiscal year ended March 31, 2004. Sony Global Web Site: http://www.sony.net/.