News Release：Pioneer announces the launch of the DVD Recorder"DVR-7000" in North America

Tokyo, Japan, June 21, 2001 --- Pioneer Corporation has announced today the introduction of the DVD Recorder DVR-7000 to the North American market this autumn, to be followed by other overseas markets. The DVR-7000 is based on the DVD-R/RW format and its suggested retail price for the U.S. market is $2,800.

< An ideal introduction to the largest DVD market in the world, providing playback compatibility with existing DVD-Video players and DVD-ROM drives^* >

DVD-R and DVD-RW are structurally very similar to DVD-ROM, so playback compatibility can easily be realized with existing DVD-Video players and DVD-ROM drives. For this reason, personal computer makers worldwide have begun to sell products equipped with DVD-R/RW drives. DVD-R/RW will be especially beneficial to the North American market -- the largest market for DVD-Video players and DVD-ROM drives in the world

DVD-Video Format (Video Mode) is a new format for recording on DVD-R/RW discs that was approved by the DVD Forum in 2000.

Pioneer Corporation is one of the leading manufacturers of consumer, commercial and industrial audio/video products, including those employing laser optical disc technologies. Its shares are traded on the New York Stock Exchange ( ticker symbol: PIO), Euronext Amsterdam, Tokyo Stock Exchange, and Osaka Securities Exchange.