Panasonic Renews Partnership With U.S. Olympic Committee Through 2016

COLORADO SPRINGS, Colo., Sept. 4 /PRNewswire/ -- Panasonic, the leading brand of Matsushita Electric Industrial Co., Ltd. , and the United States Olympic Committee (USOC) announced today that Panasonic will extend its partnership with the USOC an additional eight years through the 2016 Olympic Games. Under the terms of the agreement, Panasonic continues as the Official Audio-Video Equipment Sponsor of the U.S. Olympic Team.

Panasonic's renewal includes a renewal with the International Olympic Committee (IOC) as a Worldwide Olympic Partner through 2016. Panasonic has been a USOC partner and Official Worldwide Olympic Partner since The Olympic Partner (TOP) Program began in 1988.

"Panasonic's decision to renew its partnership with the Olympic Movement is a reflection of the strength of the Olympic brand worldwide," said USOC Chief Executive Officer Jim Scherr. "The USOC is fortunate and grateful to have a committed partner like Panasonic, and we appreciate all Panasonic does in support of athletes, not only in the United States, but worldwide."

Panasonic and the IOC announced the agreement yesterday in London with a historical signing ceremony hosted by IOC President Jacques Rogge and Matsushita Electric Industrial Co. Ltd President Fumio Ohtsubo.

"Panasonic is proud to announce its commitment to support the Olympic Movement for another eight years through to 2016, building on its nearly 20- year partnership with the International Olympic Committee," Ohtsubo said. "Through our commitment to the Olympic Movement, we want to make it possible for people around the world to share the passion of the Olympic Games with our HD technologies whether they are in the stadium or watching from home. Panasonic promises to bring the excitement of the Olympic Games to life."

As part of its support of the Olympic Movement, Panasonic provides the Olympic Games with state-of-the-art 1080p Plasma TVs, audio and video technology equipment. Panasonic's technology plays a vital role in broadcasting the excitement of the Olympic Games around the world.

About Panasonic

Best known by 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 stock exchanges. For more information on Panasonic and the Panasonic brand, visit the company's website at http://www.panasonic.com/.

About the USOC

The United States Olympic Committee (USOC) is recognized by the International Olympic Committee as the sole entity in the United States whose mission involves training, entering and underwriting the full expenses for the U.S. teams in the Olympic, Paralympic, Pan American and Parapan American Games. In addition to being the steward of the U.S. Olympic Movement, the USOC is the moving force for support of sports in the United States that are on the program of the Olympic, Paralympic, Pan American and Parapan American Games. Learn more about the U.S. Olympic Team and USOC at http://www.usolympicteam.com/.