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PRESS RELEASE: Lexar Media Demonstrates Fastest Certified "Hi-Speed USB" Flash Drive at Intel Developer Forum (IDF) Fall 2002
USB Implementers Forum, Inc. Features Lexar Media "Hi-Speed USB" Flash Drive as First in Category at IDF Fall 2002
FREMONT, CA., September 9, 2002 -- Lexar Media, Inc. (Nasdaq: LEXR), a leading developer of flash mass storage systems and an innovator of high-performance digital media and accessories, introduces the fastest certified Hi-Speed USB Flash Drive at the Intel Developer Forum Fall 2002. The Lexar Media Hi-Speed USB Flash Drive is the first Hi-Speed product in its category to be certified by the USB Implementers Forum and is capable of a sustained write speed of 4.5MB per second and a sustained read speed of 6MB per second. This high-speed performance broadens the application of USB Flash Drives to high bandwidth applications like digital video.
"Lexar Media's new product demonstrates the ability of Hi-Speed USB technology to allow users to experience the highest USB data transfer rates possible today in flash-based media," said Jason Ziller, USB-IF chairman and Intel manager of technology initiatives. "We are excited to feature Lexar Media's product as the fastest certified Hi-Speed USB Flash Drive and the first product in its category at the USB-IF booth at the Intel Developer Forum Fall 2002."
"Lexar Media is able to be first to market with a certified Hi-Speed USB Flash Drive through a collaboration with NEC Electronics, Inc.," said Steffen Hellmold, Director of Technical Marketing and Industrial OEM Sales, Lexar Media. "Our Hi-Speed USB Flash Drive is capable of data transfer rates never before achieved with flash based USB storage solutions."
"We were impressed with the high performance achieved by the Hi-Speed USB Flash Drive developed by Lexar Media using NEC's low-power, high-speed USB technology," said Kugao Ouchi, director, Broadband LSI Technology Strategic Business Unit, NEC Electronics Inc. "We are pleased to demonstrate this new product in NEC's booth #424 at IDF Fall 2002."
According to Web-Feet Research the USB Flash Drive Market is expected to reach a volume of 50 million units in 2007. "While the replacement of floppy disks certainly is the dominant application for USB Flash Drives, we see many other applications where this truly universal storage solution can be used," said Alan Niebel, CEO, Web-Feet Research, Inc. "Lexar Media's Hi-Speed USB Flash Drive enables the user to store and playback video in MPEG2 format in real time as it achieves 3 times the speed required to record a single MPEG2 video stream, this is not possible with USB interface speed of 12Mbit per second."
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, JumpDrive flash drive, MultiMediaCard and Secure Digital. 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 40 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.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 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 we market our products primarily on the basis of their superior technology and if we are unable to achieve or maintain technology leadership our gross margins and revenues would likely decline significantly and increased competition may lead to a decrease in our revenues and market share. 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, 2001, filed with the Commission on April 1, 2002. Lexar Media assumes no obligation to update the forward-looking information contained in this news release. Lexar Media 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 in this release are trademarks or registered trademarks of their respective holders.
(First posted on Monday, September 9, 2002 at 12:37 EDT)