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To: J Fieb who wrote (36008)	9/16/1998 10:56:00 PM
From: J Fieb	Respond to of 50808

Correction on Newscutter see text; Avid and Matsushita Announce Joint Development Agreement -DV-Native Avid NewsCutterr to Support Panasonic DVCPRO Digital Video Format- TEWKSBURY, Mass. (June 16, 1997) D Avid Technology, Inc. (NASDAQ: AVID) and the Video Systems Division of Matsushita Electric Industrial Co., Ltd., Osaka, Japan, announced an agreement in principle under which Matsushita will support Avid's development and delivery of a DV-native version of Avid's NewsCutter digital nonlinear editing system that will provide direct compatibility with the compact DVCPRO digital videotape format sold worldwide under the Panasonic brand name. Currently, Avid's NewsCutter system is based on motion JPEG compression; the addition of a DV-native model will allow broadcasters to choose the version that best meets their specific needs. "Avid is committed to supporting open standards and providing broadcasters with a range of open, scalable solutions for disk-based news production," said Bill Miller, Avid's Chairman and CEO. "Panasonic's DVCPRO digital videotape format is rapidly winning market acceptance among many of the world's broadcasters. We believe that our DVCPRO-compatible, DV-native NewsCutter will enable broadcasters to realize significant time and cost savings through the news production process." Katsuhiko Yamamoto, director of the Video Systems Division of Matsushita Electrical Industrial Co., Ltd., said, "Matsushita/Panasonic is very proud of the swift adoption of the DVCPRO format by news organizations worldwide. Many of these organizations are long-time users of Avid's industry-leading nonlinear tools. Our agreement with Avid will soon allow broadcasters to shoot in DVCPRO, edit on Avid's popular NewsCutter system and air the final story without ever leaving the DV-native environment. There will be no effects from mixing various compression schemes or the need to return to baseband. With this alliance, Avid and Panasonic will make the long desired all-digital lens-to-playout system a reality for customers." "This is what the Panasonic 'Open Systems' philosophy is all about," Yamamoto added. The Avid/Matsushita alliance builds on Avid's recently announced plans to develop and deliver an integrated, DV-native news editing and playback solution consisting of a DV-native version of Avid's industry-leading NewsCutter system coupled with a DV-based multichannel playback server being developed for Avid by Pluto Technologies International. By making the DV-native NewsCutter compatible with DVCPRO, users will be able to transfer material directly from the thousands of DVCPRO VCRs installed in broadcast facilities worldwide. Avid's DVCPRO-compatible, DV-native NewsCutter system is currently targeted for delivery in the first half of 1998. Pricing will be available at a later date. Matsushita Electric Industrial Co., Ltd. (MC, NYSE) of Osaka, Japan., is one of the world's leading producers of electronic and electric products for consumer, business and industrial uses, which it markets around the world under the "Panasonic," "National," "Technics" and "Quasar" brand names. Matsushita's shares are listed outside Japan on the Amsterdam, Dusseldorf, Frankfurt, New York, Pacific and Paris stock exchanges. In North America, Panasonic broadcast and professional video and audio products are marketed by Panasonic Broadcast & Digital Systems Company, a unit company of Matsushita Electric Corporation of America, the principal North America subsidiary of Matsushita Electric Industrial Co., Ltd. For more information, visit Panasonic's World Wide Web site at www.panasonic.com/PBDS. Avid Technology, Inc., is an international, industry-leading provider of digital audio and video tools for creating content for information and entertainment applications. Avid's products are used by customers ranging from communications professionals to film, television and interactive content producers to broadcast news organizations. For more information, visit Avid's World Wide Web site at www.avid.com. Avid and NewsCutter are registered trademarks of Avid Technology, Inc. All other trademarks contained herein are the property of their respective owners.