FREMONT, CA., August 12, 2003 - Lexar Media, Inc. (Nasdaq: LEXR), a leading designer, developer and marketer of award-winning high-performance digital media and accessory products, today announced that Pentax has become the latest in a distinguished group of camera manufacturers to incorporate Lexar Media's Write Acceleration technology in its new digital SLR camera.

The Pentax *ist D, announced on August 8th, will support Lexar Media's Write Acceleration technology which enables digital cameras and media to work together to achieve faster image write speeds. With the release of this new camera, Pentax *ist D users worldwide can now capitalize on the speed and performance advantages, as well as unmatched capacity of Lexar Media's leading line of CompactFlash, including Lexar's new 4GB CompactFlash card.

The Pentax announcement adds that company's name to a list of manufacturers supporting Write Acceleration technology, including Nikon, Kodak, Sanyo and Sigma.

"Our customers have a need for speed when shooting with their high-performance digital cameras," said Masataka Tsuruta, director, Pentax Imaging System Headquarters. "As a result, we've included a high-end, professional solution that satisfies our customer's request to quickly write images to the memory card and continue shooting. Lexar Media's Professional Series CompactFlash with Write Acceleration enables our customers to get the best performance from the new *ist D camera."

"Pentax joins growing list of top-tier camera companies who are supporting our Write Acceleration technology in their latest digital cameras," said John Omvik, director of product marketing, Lexar Media. "With the launch of the *ist D camera, Pentax is setting a new standard for a very compact high performance digital SLR and we are very pleased that Pentax has chosen to support our Write Acceleration technology in this camera."

In addition to support for Write Acceleration technology, the Pentax *ist D has a CompactFlash II slot and supports FAT32, which ensures compatibility with Lexar Media's new 4GB CompactFlash card.

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. As 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 60 controller and system 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.lexarmedia.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 high performance CompactFlash products. 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 achieve and maintain technology leadership, and sell and market products that are commercially accepted. 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, 2002 filed with the SEC on March 31, 2003, as amended on July 31, 2003. Lexar Media assumes no obligation to update the forward-looking information contained in this news release.

Lexar Media, JumpDrive and the Lexar Media logo are trademarks of Lexar Media, Inc. Lexar Media Inc. is an authorized licensee of the CompactFlash trademark. All other brand or product names are trademarks or registered trademarks of their respective holders.

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