Lexar Media Press Release 12/02/04

Lexar Media Announces Enhanced Memory Stick Media with Read Speeds Up to Four Times Faster

Faster Read Speed Equates to Faster Downloading and Access to Data

Las Vegas, February 12, 2004 (PMA Booth H100)—Lexar Media, Inc. (Nasdaq: LEXR), a leading manufacturer and marketer of high-performance digital media and accessories, today announced a new line of updated Memory Stick products that will have significantly increased read speeds. Available this spring in capacities of 64MB, 128MB and 256MB (total 128MBx2), the enhanced Memory Stick delivers data read speeds that are up to four times faster than current cards, when used with compatible (4-pin parallel), high-speed Memory Stick-enabled devices. The new Memory Stick cards are also compatible with serial interface Memory Stick-enabled products.

“Lexar is pleased to provide this advancement in Memory Stick technology,” said Dave Klenske, Director of Product Marketing, Lexar Media. “These new cards will improve consumer experience because with faster read speeds, users will have shorter download times and faster access to information stored on the card.”

In addition to the increase in read speed, the enhanced Memory Stick memory cards include MagicGate? copy protection technology, which enables the secure distribution of commercial content, such as copyright protected digital music and digital images.

Lexar?s new Memory Stick will be available with expected retail pricing of $39.99, $59.99 and $99.99 for capacities of 64MB, 128MB and 256MB, respectively.

About Lexar Media, Inc.
Lexar Media is a leading manufacturer and marketer 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 forward-looking 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.

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