FREMONT, Calif.- 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, announces the 'Need Speed?' sweepstakes, a new in-store promotion designed to educate consumers and sales staff on the importance of using Lexar Media speed-rated CompactFlash memory cards. Two grand prize 'Richard Petty Driving Experience of a Lifetime' packages will be awarded; one to a customer and one to a retail salesperson in June 2002.

- Two grand prize packages will be awarded. Each package includes round trip airfare and two nights hotel accommodations for two to a Richard Petty Driving Experience track location in Las Vegas, Fort Worth or Walt Disney World.

- Winners will each receive two Richard Petty Driving Experience of a Lifetime packages. 'Driving Experience' prizes put racing fans behind the wheel of a 600 horsepower Winston Cup-style stock car for 30 laps on a professional track.

- Sweepstakes is open to U.S residents only and runs February 1 to May 31, 2002. No purchase necessary.

- Prize packages awarded in June 2002.

- Entry forms will be available at participating U.S. retailers and online at www.digitalfilm.com.

"What better way to illustrate the importance of using fast digital film than to parallel its speed performance against one of the world's fastest sports?" said Tim Sullivan, vice president global sales. "Fast digital media is even more important as digital camera megapixel resolutions continue to increase. This is a great in-store promotion, very visible and tagged perfectly to our speed-rated CompactFlash.

The Speed Leader On and Off the Track

Many professional photographers choose Lexar Media digital film over other brands for its fast data write speed. Fast-writing digital film can reduce a camera's recycle time and minimize the chances of missing the opportunity for a live-action or spontaneous shot. Lexar Media is the only company to individually test and speed rate its CompactFlash cards by using an X-speed rating as used by other storage media such as CD-ROMs, where 1X equals 150KB per second. Presently, Lexar Media's retail products include 4X, 12X and 16X speed cards available in capacities up to 640MB. Using the X-speed convention, files transfer at minimum sustained rates of 600KB, 1.8MB and 2.4MB per second respectively.

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 The Richard Petty Driving Experience

The Richard Petty Driving Experience provides racing fans and thrill seekers with the opportunity to get behind the wheel of a 600 horsepower Winston Cup-style stock car at more than 20 of the greatest tracks nationwide. Richard Petty Driving Experience, the leading provider of motor sports entertainment, is dedicated to providing the safest and most exciting driving and riding programs in the world. Richard Petty Driving Experiences offer a variety of driving experiences from eight to eighty laps. www.1800bepetty.com