Lexar Media Introduces Hi-Speed USB 2.0 Multi-Card Reader Usable with all Major Memory Card Types

Supports Seven Memory Card Formats, Including Memory Stick PRO

LAS VEGAS, March 2, 2003 (PMA Booth #H152) -- Lexar Media, Inc. (Nasdaq: LEXR), a leading designer, developer and marketer of award-winning high-performance digital media and accessories, today announces a 7 in 1 Hi-Speed USB 2.0 Multi-Card Reader, which accommodates CompactFlash Type I and Type II, Memory Stick, Memory Stick PRO, Secure Digital, Smart Media and MultiMediaCard formats. Using USB 2.0, the Multi-Card Reader offers data transfer speeds of up to 40 times greater than USB 1.1.

"We are pleased to improve upon our Multi-Card Reader solution with the speed of USB 2.0 and the convenience of support for seven card formats including the new Memory Stick PRO," said David Klenske, director, product marketing, Lexar Media. "Now all of the popular form factors for digital cameras are included in just one reader. This is just one of the many products that keeps Lexar Media on the leading edge of photo accessories."

"Many consumers are realizing the advantages of USB 2.0 data transfer, specifically that it is 40 times faster than USB 1.1. Now that cameras are producing larger files, fast transfer and reduction of drain on the camera battery during transfer are becoming more of a necessity than a convenience," continued Klenske.

The USB 2.0 Multi-Card Reader connects to your computer easily through a USB 2.0 or USB 1.1 ports, needs no external AC power, is convenient to carry, and completely compatible with both PC and Mac. It is mass storage compliant, boasting true plug-and-play operability since no drivers are required for use with the latest operating systems. The unique design includes a built-in slot protector, which doubles as a reader stand when the unit is in use. The Multi-Card Reader is expected to be available at retail in April and retail at $39.99.

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 60 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.lexar.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. 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, 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.