NEC, NEC Electronics, Matsushita, Panasonic Mobile and Texas Instruments Establish New Joint Venture "Adcore-Tech" to Develop Communications Platform for Mobile Handsets for the 3^rd Generation (3G/3.5G) and Beyond

Development, Design, and Technology Licensing for Global Markets

NEC Corporation ("NEC"), NEC Electronics Corporation ("NEC Electronics"), Matsushita Electric Industrial Co. Ltd. ("Matsushita"), Panasonic Mobile Communications Co. Ltd. ("Panasonic Mobile") and Texas Instruments Incorporated ("Texas Instruments") announced the establishment of a new joint venture company, Adcore-Tech Co., Ltd (Adcore-Tech) as of August 17, 2006. The new company was established based on an agreement signed by all five companies on July 28, 2006. Adcore-Tech will conduct global development, design and technology licensing for a hardware and software communications platform (*1) to manage the core communications functions for mobile handsets for the third generation (3G/3.5G) and beyond. The outline of the new company is as follows.

About NEC

NEC Corporation (NASDAQ: NIPNY) is one of the world's leading providers of Internet, broadband network and enterprise business solutions dedicated to meeting the specialized needs of its diverse and global base of customers. NEC delivers tailored solutions in the key fields of computer, networking and electron devices, by integrating its technical strengths in IT and Networks, and by providing advanced semiconductor solutions through NEC Electronics Corporation. The NEC Group employs more than 150,000 people worldwide and had net sales of approximately 4,825 billion yen (approx. $41.2 billion) in the fiscal year ended March 2006.
For additional information, please visit the NEC home page at: http://www.nec.com
* Newsroom: http://www.nec.co.jp/press/en/

About NEC Electronics

NEC Electronics Corporation (TSE: 6723) specializes in semiconductor products encompassing advanced technology solutions for the high-end computing and broadband networking markets, system solutions for the mobile handsets, PC peripherals, automotive and digital consumer markets, and multi-market solutions for a wide range of customer applications. NEC Electronics Corporation has 25 subsidiaries worldwide including NEC Electronics America, Inc. (www.am.necel.com) and NEC Electronics (Europe) GmbH (www.eu.necel.com). For additional information about NEC Electronics worldwide, visit www.necel.com.

About Matsushita Electric Industrial Co., Ltd. (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$76.02 billion for the year ended March 31, 2006. The company's shares are listed on the Tokyo, Osaka, Nagoya, New York (NYSE:MC) and Frankfurt* stock exchanges. For more information on the company and the Panasonic brand, visit the company's website at http://panasonic.net.

*Matsushita delisted its shares from the Amsterdam Stock Exchange in June 2006, and plans to complete delisting procedures for the Frankfurt Stock Exchange in August 2006.

About Panasonic Mobile Communications

Panasonic Mobile Communications Co., Ltd., whose headquarters are based in Yokohama, Japan, is a worldwide leader in the development and manufacture of mobile communications products. As one of the main business domains for Matsushita Electric Industrial Co., Ltd., best known for its Panasonic brand digital electronics, Panasonic has been developing cutting edge technologies since its establishment in 1958, including the world's first 3G video handset for the Japanese market in 2001. Panasonic is committed in providing added-value solutions to end-users through its mobile communication products. For more information, please visit www.panasonic.co.jp/pmc/en

Texas Instruments – Making Wireless

TI is the leading manufacturer of wireless semiconductors, delivering the heart of today's wireless technology and building solutions for tomorrow. TI provides a breadth of silicon and software and 15 years of wireless systems expertise that spans handsets and base stations for all communications standards, wireless LAN, Bluetooth and Ultra Wideband. TI offers custom to turn-key solutions, including complete chipsets and reference designs, OMAP^TM application processors, as well as core digital signal processor and analog technologies built on advanced semiconductor processes. Please visit www.ti.com/wirelesspressroom for additional information.

About Texas Instruments

Texas Instruments Incorporated provides innovative DSP and analog technologies to meet our customers' real world signal processing requirements. In addition to Semiconductor, the company includes the Educational & Productivity Solutions business. TI is headquartered in Dallas, Texas, and has manufacturing, design or sales operations in more than 25 countries.
Texas Instruments is traded on the New York Stock Exchange under the symbol TXN. More information is located on the World Wide Web at: http://www.ti.com