P R E S S   R E L E A S E

Panasonic Broadcast Introduces PT-AE700U
Portable High Definition Home Cinema Projector

* Delivers In-Home Cinematic Experience with Best-in-Class 2000:1 Contrast *
*Leading Hollywood Colorist Provides Color Quality Expertise *

INDIANAPOLIS, IN (September 8, 2004)— At CEDIA, Panasonic has announced the new PT-AE700U, a native high-definition home theater projector capable of displaying an ultra-sharp, ultra-clear HD picture up to 14.5-feet wide. The PT-AE700U is equipped with advanced digital picture-enhancing features to transform your living room, basement or bonus room into a mini theater for viewing everything from movies to sports to your favorite television program in HD.

"The PT-AE700U allows the viewer to watch HD programming the way its creators intended it to be seen — ultra-wide, ultra-big and in high resolution," said Jim Holzel, Product Line Business Manager, Projectors, Panasonic Broadcast. "The larger-than-life size HD images the PT-AE700 produces are rich and vivid with dead-on color accuracy."

To deliver a new level of home theater enjoyment, the 1000-lumens PT-AE700U's three 16:9 native, 1,280 x 720 pixel (2.76 million effective pixels) HD LCD panels produce a phenomenal picture quality and beautifully saturated colors even in well-lit rooms.

Incorporating the expertise and artistic creativity of well-known Hollywood colorist David Bernstein, the PT-AE700U offers a wealth of image optimizing features including a color correction system with Cinema Color Management (CCM) technology to ensure super-faithful color reproduction and a Dynamic Iris optical system incorporating AI technology to produce a best-in-class 2000:1 contrast ratio. The Dynamic Iris constantly adjusts the light volume and gamma curve in real time, so the picture is always optimal and transitions between scenes are amazingly smooth and natural.

A newly-developed 2X optical zoom lens allows image size adjustment to accommodate the room layout and screen size. For instance, the PT-AE700U can project a 100-inch picture from a distance of less than 10-feet or from a distance of more than 19 feet. A new joystick-controlled optical system permits easy vertical and horizontal lens shift to enable the user to adjust the screen easily without having to move the actual projector, and without distorting the on-screen image.

The PT-AE700U is outfitted with highly acclaimed Smooth Screen technology that effectively eliminates the "screen door effect" (visible spacing between pixels), as well as integrated picture-enhancement circuitry that provides significant benefits, namely:

• 10-bit digital processing and 10-bit gamma correction that accurately reproduces subtle changes in brightness and hue and quadruples the number of displayable colors to more than 1 billion and over 1024 grey levels;

• Projector AI that automatically adjusts lamp brightness to the optimum level to match the characteristics of the picture in real time;

• Improved Dynamic Sharpness Control that adjusts video signal enhancement based on the difference in brightness of adjacent pixels;

• Progressive Cinema Scan (3/2 pull down) that automatically detects an input signal from filmed material, and creates an optimum progressive scan processing method to assure faithful reproduction of the original image.

For convenience, the PT-AE700U can be easily moved between rooms or permanently installed in the ceiling using an optional mount. A screen trigger terminal is included to allow the opening and closing of an electronic screen when the projector is powered on and off.

To accommodate virtually any home electronic device, the PT-AE700U is outfitted with a wide range of inputs, including an HDMI input that accepts all high definition digital sources; component video inputs to connect to analog HD sources or progressive scan DVD players; a PC IN input to connect multimedia computer sources; composite video; and S-Video.

The PT-AE700U is a quiet operator with an operating noise level as low as 26dB.

Other key features include: omni-directional digital keystone correction that minimizes distortion when projecting at an angle of up to 30 degrees; contrast, brightness and gamma level adjustments across seven picture modes; memory-storage of up three sets of picture adjustment settings; a back-lit, multi-function wireless remote; seven-language on-screen menu; and manual zoom and focus. The PT-AE700 weighs 7.9 pounds, and its dimensions are 13-3/16" W x 3-23/32" H x 10-5/8" D.

The PT-AE700 will be available in late September at a suggested list price of $2,999.

Visit www.panasonic.com/projectors for more information on Panasonic's projector line-up.

About Panasonic Broadcast

Panasonic Broadcast & Television Systems Co. is a leading supplier of broadcast, professional video and presentation products and systems. Panasonic Broadcast is a unit company of Matsushita Electric Corporation of America, the principal North America subsidiary of Matsushita Electric Industrial Co., Ltd. (NYSE: MC), one of the world's leading developers and producers of electronic and electric products for consumer, business and industrial use. Visit www.panasonic.com/broadcast for an overview of all Panasonic Broadcast's product offerings.