New 512MB 12x Type I Digital Film Hits Retail Shelves

Fremont, California, August 7, 2001- Lexar Media, Inc. (Nasdaq: LEXR), a leading designer, developer and marketer of high-performance digital film and connectivity products for the digital photography market, today announced the availability of its new high-speed, high-capacity 512MB 12x USB-enabled Type I CompactFlash digital film. Designed to meet the needs of the most demanding photographer, this is Lexar Media's fastest and highest capacity memory card. Lexar Media 512MB 12x memory cards can be purchased through camera dealers, distributors and the Company's Web site, www.digitalfilm.com.

"The demand for high-speed, high-capacity digital film continues to rise as digital photographers invest in the latest professional digital cameras and camera backs that generate file sizes up to 48 megabytes per image," said Eric Stang, president and CEO of Lexar Media. "The 512MB 12x is perfect for today's professional digital photographers, as it is capable of a sustained write speed of 1.8MB/sec. which greatly reduces file write time and camera recycle time."

Speed and Reliability Critical
Lexar Media Pro Series memory cards are designed for sports, fashion and action photographers that demand excellent performance from their cameras and the fastest write speeds. These same photographers trust flash memory-based digital film over disk drive storage because it provides the reliability and performance of a solid-state architecture.

Lexar Media Pro Series CompactFlash cards are ideally-suited for digital cameras including the Canon EOS D30, FujiFilm S1 Pro, Kodak Professional Series, Nikon D1, Nikon D1H, Nikon D1X, Olympus E-10 and other models. All Lexar Media Pro Series CompactFlash cards come with a lifetime warranty and feature USB functionality built directly into the card to enable quick and easy photographic image transfer to a PC or Macintosh via USB port.

Early Endorsement from Pro Shooters
"There's only one brand of card in my gear bag-and that's Lexar Media's Professional Digital Film," said Kevin Gilbert, president and CEO, Blue Pixel Digital Experts and former president of the White House News Photographers Association. "Lexar Media Pro products have never failed me-from the jungles of Borneo to the glaciers in Patagonia to the 2000 U.S. Presidential Campaign. I only shoot in raw or native formats and the new Lexar Media 512MB 12x card makes shooting that much easier."

Vincent Versace, an award-winning digital natural light photographer and a Smithsonian Fellow in Digital Photography, comments, "I can't think of any other card that will make the Nikon D1X fully-operational like the Lexar Media 512MB 12x. It's all about speed and size: the bigger the file, the greater the need for both, which is why I only use Lexar Media. Lexar Media maximizes a camera's performance and enables me to capture my vision as I see it."

"I've used the Lexar Media 512MB 12x exclusively in the Nikon D1X and it hasn't missed a beat," said Rob Galbraith, professional photographer and editor-in-chief of the popular digital photography Web site www.robgalbraith.com. "All in all, the Lexar Media 512MB card should be a hit with pros who want 12x speed, but need more capacity."

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 flash 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. A digital storage innovator, Lexar Media was the first to develop and advance proprietary read-write speed standards for its USB-enabled CompactFlash cards. Headquartered in Fremont, California, Lexar Media also has offices in London and Tokyo. For more information, please call 1-800-789-9418 or visit www.digitalfilm.com.

Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements 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 launch of Lexar Media's 512MB 12x Type I CompactFlash and the anticipated benefits of this digital film card. 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 Lexar Media must develop and introduce on a timely basis new products and services that are commercially accepted in order to compete effectively in its market, the growth and success of Lexar's business depends, in part, on digital camera manufacturers continuing to develop and promote products that are able to take advantage of Lexar Media's digital film products and Lexar Media's business will not succeed unless the digital photography market continues to grow and is accepted by professional, commercial and consumer users. 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, 2000, filed with the Commission on April 2, 2001. Lexar Media assumes no obligation to update the forward-looking information contained in this news release.