New Device Is Expected To Significantly Increase Data Storage Capabilities In Consumer And Industrial Products

SUNNYVALE and IRVINE, Calif., Sep. 10, 2002 - SanDisk Corporation (NASDAQ: SNDK) and Toshiba America Electronic Components, Inc. (TAEC) today introduced next generation single-die, 1 gigabit (Gb) NAND flash memory chip manufactured using advanced 0.13 micron process technology.

The 1Gb NAND flash device can be used either as an IC component for embedded applications or in removable memory cards. Production of storage cards with the new memory chip is scheduled to begin in the first quarter of 2003. In addition to the 1Gb TSOP product, other derivative versions of the 0.13 micron product will also be developed over the coming months including 512, 256 and 128 megabits.

"The Toshiba/SanDisk joint technology development efforts have resulted in a complete family of flash memory products, including both binary NAND and Multi-Level Cell (MLC) NAND flash," said Naohisa Sano, vice president of TAEC's memory business unit. "We are pleased with our joint technology development with SanDisk and are now seeing the first of a new family of 0.13 micron NAND flash memory products. It is a great pleasure to announce this successful milestone."

Sanjay Mehrotra, executive vice president and chief operating officer at SanDisk, said, "This announcement represents the close relationship between SanDisk and Toshiba as we continue to develop the technologies and products that meet or exceed the market demand in terms of density, performance, cost, and reliability. Toshiba, with its superb process technology and manufacturing prowess, has proven to be a highly strategic and valued partner for SanDisk in our continuing quest to accelerate our flash technology roadmap and expand the markets for our flash storage products."

SanDisk and TAEC will independently market the chips to their respective customers. The 1Gb flash memory chip is expected to expand the data storage capabilities of consumer products such as cell phones, digital cameras, digital audio players, and digital video as well as industrial applications. In addition to offering the 1Gb NAND flash, the product will also be used in SanDisk's and Toshiba's CompactFlash® products.

The 1Gb NAND memory chips will be produced for both companies in Toshiba Corporation's advanced fabrication production facility at Yokkaichi, Japan under the FlashVision Joint Venture established by Toshiba Corporation and SanDisk.

About SanDisk Corporation

SanDisk Corporation, the world's largest supplier of flash data storage products, designs, manufactures and markets industry-standard, solid-state data, digital imaging and audio storage products using its patented, high density flash memory and controller technology. SanDisk is based in Sunnyvale, CA.

About TAEC
Combining quality and flexibility with design engineering expertise, TAEC brings a breadth of advanced, next-generation technologies to its customers. This broad offering includes semiconductors, flash memory-based storage solutions, optical communication devices, displays and rechargeable batteries for the computing, wireless, networking, automotive and digital consumer markets.

TAEC is an independent operating company owned by Toshiba America, Inc., a subsidiary of Toshiba Corporation, the second largest semiconductor company worldwide in terms of global sales for the year 2001 according to Gartner/Dataquest's Worldwide Semiconductor Market Share Ranking. Toshiba is a world leader in high-technology products with more than 300 major subsidiaries and affiliates worldwide. For additional company and product information, please visit TAEC's website at chips.toshiba.com. For technical inquiries, please e-mail [email protected].

The matters discussed in this news release contain forward looking statements that are subject to certain risks and uncertainties as described under the caption, "Factors That May Affect Future Results" in the company's annual report on Form 10-K and quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission. The companies assume no obligation to update the information in this release.