Matsushita Named Title Sponsor of Toyota's F1 Team

Matsushita Named Title Sponsor of Toyota's F1 Team

Tokyo, July 3, (Japan.Corp.Net) - Matsushita Electric Industrial Co., Ltd. 
(Matsushita) and Toyota Motor Corporation (TMC) announced today that, 
together with Toyota Motorsport GmbH (TMG), they have signed a formal 
agreement entitling Matsushita to serve as the title sponsor of the Toyota 
Formula One (F1)racing team. 

Under the agreement, the Toyota F1 team will be named "Panasonic TOYOTA 
Racing" and its cars competing on F1 circuits the world over will bear the 
Matsushita brand logo "Panasonic" on their sides and rear wing.  The term 
of the sponsorship is five years from 2002, the year in which Toyota enters 
F1 competition, through 2006.

This latest Matsushita-TMC tie-up builds on a long and fruitful 
relationship of mutual trust and collaboration in the development of 
various technologies, such as those related to automotive audio-visual 
equipment and hybrid-car batteries.

Matsushita has also pledged to support Toyota's F1 project by actively 
providing the necessary cutting-edge technology that the team needs for a 
successful entry into F1 racing. 


Contact: 
Akira Kadota of International PR Team, Matsushita Electric Industrial Co., 
Ltd., at: 03-3578-1237 http://www.panasonic.co.jp/global/

Taro Takada/Paul Nolasco of the International Communications Dept., TMC, 
at: 03-3817-9178/9161 http://www.global.toyota.com/