Formerly Code-Named NEWCARD, ExpressCard will Replace Existing PC Card Storage Solutions; Technology to be Demonstrated at Intel Developer's Forum

San Jose, CA, September 16, 2003 - Lexar Media, Inc. (LEXR) today announced it has developed the first ExpressCard� flash memory card engineering samples. ExpressCard is the new memory card format for desktop and laptop computers, spearheaded by PCMCIA. The new ExpressCard memory cards will be shown with Intel-based laptop and desktop computers at the Intel Developer's Forum, PCMCIA Booth #110 from September 16th to 18th, 2003 in San Jose, CA.

PCMCIA, a leading technology trade association, announced the release of Version 1.0 of the ExpressCard standard for PC card expansion for mobile and desktop systems this week. Previously codenamed NEWCARD, ExpressCard technology brings the proven reliability and convenience of the PC Card in a smaller form factor while offering faster performance and improved ease of use. System and card manufacturers are expected to bring the first ExpressCard products to market in the second half of 2004.

"Lexar Media has been affiliated with PCMCIA since it was founded in 1996, and we are pleased to be driving the technical development for the next-generation storage solution for personal computers," said Hamid Haidari, Lexar Media Technical Product Manager and Marketing Chairman for PCMCIA. "ExpressCard is roughly half the size of a current PC Card and achieves transfer speeds of 250MB per second providing an enhanced computing experience for many next-generation computer purchasers."

"ExpressCard brings a new level of performance and functionality to mobile and desktop computers," said Bala Cadambi, PCI Express Initiative Manager at Intel. "With the specification released by the PCMCIA, the stage is set for wide industry adoption. Lexar's flash memory card demonstrates the potential of the new standard."

ExpressCard will be smaller, faster and consume less power than existing PC card slot solutions. ExpressCard/34 module measures 34mm x 75mm x 5mm and ExpressCard/54 module will be 54mm x 75mm x 5mm. The speed is almost four times faster than a PC Card, with peak data transfer rate of 250 MB/s. ExpressCard will support advanced serial I/O technologies, USB 2.0 and PCI Express, enabling development of a wide variety of future mobile computing applications. Engineering samples of ExpressCard will be available for viewing at the joint demonstration at the PCMCIA booth during IDF.

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 products and the growth opportunities available to Lexar Media. 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.