Electric Co. Ltd. (TOKYO:6764)("SANYO") are currently preparing for
the public tender offer for SANYO shares by Panasonic (the "Tender
Offer") following the conclusion of the Capital and Business Alliance
Agreement announced in the press release titled "Panasonic and SANYO
Agree to Capital and Business Alliance" dated December 19, 2008. As
scheduled, an update is being provided regarding the progress of
procedures required for the launch of the Tender Offer under domestic
and international competition laws and regulations:
Pursuant to domestic and foreign competition laws and regulations, all
procedures in Japan, the U.S., Europe, China and other countries
required for the launch of the Tender Offer are in progress, including
responses to the Request for Additional Information (Second Request)
which Panasonic and S
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