New Fastest-ever Digital Film Capable of Minimum Sustained Write Speed of 3.6MB Per Second

PMA, Orlando, FL, February 23, 2002 -- Lexar Media Inc. (Nasdaq: LEXR), a leading designer, developer and marketer of award-winning high-performance digital media and reader products, will demonstrate its fastest-ever 24X-speed Professional Series CompactFlash Type I digital film at the Photo Marketing Association (PMA) trade show in Orlando, Florida, February 24 - 27. Lexar Media's new 24X Professional Series memory cards are designed and tested to be capable of performing at a minimum sustained write speed of 3.6MB per second or faster. Cards begin shipping March 2002 in capacities of 256 and 512 Megabytes, at suggested retail prices of $225 and $600 respectively.

"We believe this is the fastest digital film available. Lexar Media alone can claim consistent write speeds that clock at a minimum of 3.6MB per second," said Eric Stang, president and CEO, Lexar Media. "Professional photographers use faster cards, such as our 24X, to dramatically increase image file write times, especially when shooting in high-resolution modes. They rely on Lexar Media to individually test and speed rate each CompactFlash card, and make them work well with all popular makes and models of professional digital cameras. Lexar Media's Professional Series cards are clearly made with professional shooters in mind."

The new 24X-speed Professional Series digital film will replace Lexar Media's existing line of CompactFlash 16X-speed cards beginning first with 256MB and 512MB capacities. The Company will continue to offer its 12X High-Speed Series for digital enthusiasts and 4X-speed for value-conscious photographers. Lexar Media is the only company to individually test and speed-rate every one of its CompactFlash cards. Lexar Media pioneered the adoption of the "X" speed rating for solid-state storage, where X equals 150kb per second, as used by other digital storage devices such as CD ROMs.

Lexar Media Professional Series CompactFlash digital film is valued for its consistent write speed, unique product features and added professional services -- including the new Image Rescue, a unique program that recovers lost or deleted image files from CompactFlash memory cards. Participating Lexar Media Authorized Professional Dealers will use Image Rescue to provide image recovery services for digital photography customers.

About Lexar Media, Inc.
Lexar Media, Inc. (Nasdaq: LEXR) is a leading designer, marketer and licensor of award-winning removable flash-based digital storage media, card readers and ATA controller solutions for the digital photography, consumer electronics, industrial and communications markets. Lexar Media brands digital memory cards in the industry's most popular formats including CompactFlash, SmartMedia, Memory Stick, MultiMediaCard and SD. A digital storage innovator, Lexar Media was the first to develop and advance proprietary read-write speed standards for its USB-enabled CompactFlash cards. Lexar Media's key strategic partners include Samsung Electronics, Sony and Olympus. Lexar Media is a member of the Russell 2000 Index. Headquartered in Fremont, California, Lexar Media also has offices in London and Tokyo. For more information, please call 1-800-789-9418 or visit www.digitalfilm.com.