Press Release

Itron and Panasonic Announce Partnership to Address Smart Metering Projects

Companies to combine their expertise to develop innovative, quality solutions in the field of gas smart metering

LIBERTY LAKE, Wash.—December 15, 2011—Itron, Inc. (NASDAQ: ITRI) and Panasonic (NYSE:PC) announced today a partnership agreement to design and deliver highly innovative gas smart metering solutions to utilities in Europe.

Given the EU target requiring that at least 80% of homes have a smart meter fitted by 2020 and the growing public concern for energy use reduction, the demand for gas smart metering solutions for residential applications is expected to grow rapidly. In response to this, Itron has partnered with a worldwide leader in electronic products, Panasonic, to collaborate on the development of its next generation smart gas meter. With its next gas meter release, Itron will leverage Panasonic's ultrasonic sensor technology to enhance its new residential static meters. It will provide utilities planning for large-scale smart meter deployments in Europe with a solution that offers a highly accurate and reliable communicating metering solution.

Additionally, Itron and Panasonic are working together to integrate key hardware electronics operating on low power radio into Itron's advanced gas data collection solution.

"This partnership with Panasonic demonstrates our dedication to expanding our portfolio by offering solutions of the highest quality and of the greatest reliability," said Jean-Paul Piques, Itron marketing director, Energy, EMEA. "Strong leadership is built through partnerships and engagement with the wider market and we are excited about this new venture with Panasonic to design innovative solutions."

"Working on these projects with Itron has enabled us to leverage our30 years of expertise in electronic gas metering and high performance radio frequency technology to serve the metering industry of Europe," said Masanori Iwai, Panasonic global marketing manager, gas meter devices. "We are looking forward to continuing this partnership in the future."

About Itron

Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us:

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