Matsushita Electric Industrial Co., Ltd., Panasonic Corporation of North America, and 3M Reach Agreement

Matsushita Electric Industrial Co., Ltd. and 3M have reached a
settlement regarding a patent dispute involving lithium ion battery
cathode materials which was the subject of a patent infringement suit
filed in March 2007 against Matsushita, Panasonic Corporation of North
America and other companies. Matsushita and 3M have executed a
Settlement and License Agreement. Under this Agreement, Matsushita and
Panasonic Corporation of North America are now licensed sources of
batteries. The specific terms of the settlement are confidential.

3M believes its cathode materials containing nickel, manganese and
cobalt are an important technology for current and next generation
lithium ion batteries. 3M stands ready to supply cathode materials to
the industry. Over the past decade, 3M has invested significant
resources in design, development and commercialization of advanced
material technologies for lithium ion battery applications. 3M's
expertise and broad materials capabilities in cathodes, metal alloy
anodes, electrolyte salts, solvents, and additives can enable the next
generation of high-performance lithium ion batteries.

Lithium ion batteries are a preferred source of power for laptop
computers, mobile phones and portable electronic devices, and are an
emerging source of power for battery-powered hand tools. In addition,
3M sees a promising future for its lithium-ion technology in transport
applications such as hybrid electric vehicles.

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