NEWS RELEASE

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Panasonic Captures Lead Sponsorship of Metronome Canada

TORONTO - April 30, 2002 -Today, Panasonic Canada announces a multi-million dollar agreement to be the official Lead Sponsor of Metronome Canada, the proposed 'Music City' to be located at the western edge of Toronto's waterfront. This commitment is one of the largest sponsorships of its kind and the first for Toronto's waterfront redevelopment.

"As we celebrate our 35th anniversary, we are proud and excited to be part of this new music community as the lead sponsor of Metronome Canada," says Eddie Esaki, President, Panasonic Canada. "Panasonic has always played a leading role in bringing new technologies and products to Canadian music lovers and we are excited about our new role with Toronto's waterfront and the development of Canada's musical future."

Metronome Canada, the one-of-a-kind 'music city' on Toronto's harbour, features Canada's Music Museum, performance spaces, music-themed playgrounds, restaurants, retail outlets and an exhibit celebrating the architectural and industrial heritage of Toronto's last remaining grain silo complex. The project includes an 800-seat concert theatre, The Canadian Centre for Music and Media (office and educational facilities designed to strengthen Canada's cultural industries) and 'The Riverboat', a floating exhibit celebrating Yorkville Avenue in the 1960s.

"We are thrilled Panasonic has chosen to help create Metronome Canada," says John Harris, President, Metronome Canada Foundation. "Panasonic's involvement represents a milestone in the evolution of a project that will integrate, educate, celebrate and promote all facets of Canadian culture."

The project has established unprecedented support from companies and individuals across the country. Metronome Canada's design by Kuwabara Payne McKenna Blumberg has won an "Award of Excellence" from both the Ontario Association of Architects and Canadian Architect. Canadian Music Hall of Fame supporters include Oscar Peterson, Buffy Sainte-Marie, Randy Bachman, The Four Lads, Maureen Forrester, Paul Anka, The Diamonds and Domenic Troiano.

The foundation has raised $14.2 million from 286 companies and has applications pending with the Ontario SuperBuild and the Canada-Ontario Infrastructure Program for $12.5 million from each fund.

"We thank and congratulate Panasonic Canada," says Harris. "This remarkable company will be recognized as an important catalyst in the creation of Metronome Canada and Toronto's new waterfront."

About Panasonic Canada
Panasonic Canada Inc. (PCI) is a principal Canadian subsidiary of Matsushita Electric Industrial Co., Ltd., one of the world's largest producers of electronic and electric products for consumer, business and industrial use. With offices throughout Canada, Panasonic is one of the most recognizable and trusted brand names throughout North America.

About Metronome Canada
A one-of-a-kind 'music city' proposed for the site of the Canada Malting Silo Complex adjacent to Toronto City Centre Airport. The non-profit initiative is designed to integrate and strengthen Canada's music and media industries and is expected to open in 2005. To download computer illustration digital files please visit: www.metronomecanada.com/illustrations.

For more information, please contact:
Jocelyne Isabey
Planet3 Communications Ltd. for METRONOME CANADA
416-922-4459
info@planet3com.net

Allison Morris
Environics Communications for Panasonic Canada
416-920-9000 ext. 239
amorris@pr.environics.ca