New Digital Film Line Raises Performance Bar Once Again

PhotoPlus Expo, New York, NY, November 1, 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, today introduces its new 50 percent faster High Speed Series CompactFlash Type I digital film line to leading photo specialty and consumer electronics dealers worldwide. This move boosts the sustained write speed capability of Lexar Media's premium-line digital film from an 8X speed rating to 12X, increasing the sustained data write speed to 1.8MB per second and significantly decreasing the time it takes for a high megapixel digital camera to write an image to the card. Lexar Media's other popular lines of high-performance digital film are the 4X speed Value Series and the recently announced 16X speed Professional Series.

"The new higher resolution 4 and 5 megapixel digital cameras can create files of 10MB or more per image, making our digital film's image write speed advantage increasingly useful to consumers," said Eric Stang, Lexar Media president and CEO. "Now customers can step-up to the High Speed Series and seriously cut down their waiting time with performance previously only available to professional digital photographers."

Lexar Media pioneered the use of the x-speed rating for solid-state storage as used by other storage media such as CD-ROMs, where 1x equals 150kb per second. Presently, Lexar Media offers 4X, 12X and 16X speed cards. Using the x-speed convention, files transfer at minimum sustained rates of 600KB, 1.8MB and 2.4MB per second respectively. Lexar Media is the only company to individually test and speed rate its CompactFlash cards.

"Applying our latest technology, Lexar Media is able to offer these higher speed products and rate the performance capabilities of every card individually - something no other manufacturer can do today," said Stang. "Customers trying the new 12X line should see improvements in how well their camera performs, and they can look forward to missing fewer shots due to shorter camera recycle times."

The new 12X speed High Speed Series CompactFlash digital film lists at suggested retail ranging from $50 to $230 in capacities of 64MB, 128MB, 192MB and 256MB. Lexar Media Premium Series CompactFlash cards come with a lifetime warranty and have built-in USB functionality to enable quick and easy image file transfer to PC or Macintosh via USB port.

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.

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.