LONDON, England, October 25, 2001 - Lexar Media, Inc. (Nasdaq: LEXR), a leading developer of flash mass storage systems and an innovator of high-performance, USB-enabled CompactFlash(tm) digital film, announced today that it has partnered with Nikon UK for the introduction of the new Premier Power & Memory Kit. The kit includes a high-powered rechargeable Li-ion battery and Lexar Media USB-enabled, 4x speed, 64MB CompactFlash memory card. The battery featured in the Premier Power & Memory kit is compatible with the Nikon CoolPix 775, 885 and 995 digital cameras.

"This kit addresses the two fundamental complaints of many people new to digital photography: not enough battery power and not enough memory," said Tessa Board, managing director, Lexar Media Europe. "Nikon recognizes this and we're pleased to be partnering with them to offer an affordable 'get started' solution for CoolPix digital cameras owners. It's an easy way to extend their photo taking for hours at a cost savings."

The Premier Power & Memory kit is co-branded with the Nikon and Lexar Media logos and is available now exclusively at Nikon camera dealers throughout Europe. Purchased individually, the kit is priced at �129.99 (USD $185), but if acquired while buying any Nikon CoolPix camera, the cost is �90 (USD $128). This represents a savings of approximately �40 (USD $57).

"Our customers will appreciate the ease and convenience of picking up a high-quality Lexar Media CompactFlash card, plus a powerful new battery at a considerable savings over purchasing each separately," said Chris Hoare, marketing services manager of Nikon UK's Imaging Division. "The kit will help photographers extend the hours they spend shooting. We are delighted to have an ongoing association with Lexar Media - a company with a high profile in the photo and retail channels. Lexar Media's positive reputation enhances the value of bundled product offerings."

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 and holds over 35 memory and controller patents. Licensees of Lexar Media's technology include Olympus, SanDisk, Samsung Electronics and Sony. Headquartered in Fremont, California, Lexar Media also has offices in London and Tokyo. Lexar Media is a member of the Russell 2000 Index. For more information, please call 1-800-789-9418 or visit www.digitalfilm.com.

About Nikon UK
Nikon UK is the UK distributor of world-renowned imaging products including 35mm SLR cameras, digital still cameras, film scanners, 35mm and Advanced Photo System cameras, an extensive range of interchangeable lenses, photographic accessories such as speedlights and a comprehensive range of binocular products. For more information contact Nikon at 0800 220230, or visit Nikon at http://www.nikon.co.uk.

Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. These forward-looking statements include statements related to the benefits of and consumer demand for Lexar Media's digital film. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. These risks include that the growth and success of Lexar Media's business depends on its ability to develop and maintain strategic relationships necessary to develop, sell and market products that are commercially accepted, sales of Lexar Media's products outside the United States are subject to foreign economic risks, and Lexar Media's business will not succeed unless the digital photography market continues to grow and is accepted by professional, commercial and consumer users. Readers should also refer to the risk factors described in Lexar Media's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for its fiscal year ended December 31, 2000, filed with the Commission on April 2, 2001. Lexar Media assumes no obligation to update the forward-looking information contained in this news release.