November 26, 2002
FOR IMMEDIATE RELEASE

Contact: Mark Robinson
Edwards Technologies, Inc.
Ph. 310/536-7070 ext. 129
Mobile: 310/529-1946
markr@edwardstech.net

EDWARDS TECHNOLOGIES, INC. & PANASONIC JOIN FORCES TO PROVIDE 3-D DIGITAL CINEMAS

EL SEGUNDO, CA - Following the success of the first-ever all-digital 4-D theater attraction at LEGOLAND theme parks worldwide, Edwards Technologies, Inc. (ETI) and global electronics leader Panasonic announced today a plan to package 3-D digital cinemas for theme parks, museums, visitors centers, institutional and entertainment venues.

In June 2002, "LEGO Racers 4-D" opened simultaneously in 3-D digital cinemas at LEGOLAND theme parks in Denmark, England, California and Germany. The 400-seat venues utilize breakthrough digital 3-D projection technology by Panasonic, combined with captivating in-theater special effects and an earth-shaking 16-channel surround sound system all designed, integrated and installed by ETI.

With the recent introduction of advanced digital projection systems, such as Panasonic's new twin-chip DLP projectors, HD digital cinema is fast becoming an alternative to traditional film. Digital projection provides a crisp, bright and impressive image on screens up to 35 feet wide without degrading over time like film or videotape. (The 10,000th presentation will look as pristine as the first.) HD servers offer a single piece of hardware with multiple channels that can be used to supply high-definition video and audio to other locations within a facility, including pre-show or exhibit spaces.

Digital Cinema technology is reliable, easy to operate, provides multi-use opportunities, and offers a long-term maintenance cost that is lower than film or video playback systems.

"We're proud to be working with ETI to offer a system solution for these prestigious markets," said Steve Yuhas, president and COO of Panasonic Systems Sector, a division of Matsushita Electric Corporation of America. "ETI is an industry leader in its ability to integrate a full design and production package for digital cinemas. We're thrilled to lend the Panasonic name to this important product."

ETI and Panasonic will offer competitively priced 100- to 500-seat 3-D digital cinemas with options for multipurpose use and in-theater special effects (the 4th "D"), including specialty lighting, fog, water mist or spray, wind, smoke, heat or almost anything a filmmaker might imagine.

In addition, the companies will be offering exciting 3-D content as part of this package, partnering with giant-screen industry leader nWave Pictures.

"Panasonic's new digital projection technology truly enhances the quality of the show experience," said Brian Edwards, CEO of ETI. "Our association with nWave Pictures makes it possible to provide a complete immersive cinema solution to our institutional and commercial customers."

"With the Panasonic/ETI system, digital cinema has finally been perfected," said Ben Stassen, CEO, nWave Pictures. "It provides the high quality experience thousands of venues have dreamed of in an affordable and achievable package." ETI and Panasonic plan to begin immediately marketing the 3-D digital cinema package to theme parks, entertainment centers, casinos, museums, aquariums, zoos and other specialty venues worldwide. nWave has committed to provide their existing library of 2-D/3-D attraction software, as well as 3rd party experiences.

About Panasonic

Best known by the Panasonic brand name, Matsushita Electric Corporation of America is the principal North American subsidiary of Matsushita Electric Industrial Co., Ltd. (NYSE: MC) of Japan, one of the world’s largest developers and producers of innovative electronic and electric products for consumer, business and industrial use. For more information on Panasonic, visit: www.panasonic.com.