Designed For Mobile Phones and Handheld Devices, Japan's Popular Memory Format Now Available Worldwide

HANNOVER, GERMANY, March 17, 2004 (CEBIT Hall 20, Stand D28) -- Lexar Media, Inc. (Nasdaq: LEXR), a leading manufacturer and marketer of high-performance digital media and accessories, today introduced its family of miniSD cards. Available immediately worldwide in capacities of 32MB, 64MB and 128MB, Lexar Media's miniSD cards first began shipping in Japan in December 2003.

miniSD is an extension of the SecureDigital (SD) memory format designed to offer flashbased storage for devices with limited internal space for removable memory. miniSD cards take up approximately 60 percent less area in a host device than the standard SecureDigital card. Lexar Media's miniSD cards include an adaptor for easy transfer of data when using devices equipped with an SD card slot.

"Delivering a miniSD card to the market further demonstrates our commitment to be on the forefront of our industry," said Bobby Billman, Lexar Media's vice president of marketing. "The market for converged devices is rapidly expanding. As it does, so does the market's need for reliable, ultra-small storage solutions like miniSD."

miniSD is specifically designed for portable, storage-intensive devices such as cameraphones, digital still and video cameras, MP3 players and PDAs. For example, Lexar's miniSD is compatible with the Panasonic X700 smartphone, a recently introduced multifunction device combining mobile phone, digital camera and personal assistant features.

Lexar's miniSD cards are currently available with an estimated retail price of $29.99 (32MB), $49.99 (64MB) and $79.99 (128MB).

About Lexar Media, Inc.
Lexar Media is a leading marketer and manufacturer of flash memory cards, USB flash drives, card readers and ATA controller technology for the digital photography, consumer electronics, industrial and communications markets. The company holds over 70 issued and allowed controller and system patents, and licenses its technology to companies including Olympus, Samsung Electronics and Sony. For more information, please call 1-800-789-9418 or visit www.lexarmedia.com.

Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements which are subject to the safe harbor provisions of the Private Litigation Reform Act of 1995. These 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 forwardlooking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. These risks include that Lexar Media's growth and success 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 SEC, including its most recently filed Form 10-K and Form 10-Q. Lexar Media assumes no obligation to update the information in this 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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