Lexar Media Introduces 2nd Generation Digital Photo Player

Device Brings Digital Images From the Computer to the TV

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 its second-generation multi-language Digital Photo Player. Digital Photo Player is a compact, remote controlled device that brings digital images to the living room by connecting digital memory cards directly to a television.

The new Digital Photo Player is faster than the previous version and now supports six popular memory formats including CompactFlash I/II, Memory Stick, Secure Digital, Smart Media and MultiMediaCards. The new player also supports high-resolution JPEG images generated from computers or cameras of up to six megapixels. From the couch, users can use the player to scan thumbnails, select images to zoom, rotate or delete and view their pictures in slide show mode on a television.

"Our Digital Photo Player provides consumers an easy and comfortable way to share images with others using their TV," said David Klenske, director of product marketing, Lexar Media. "In addition, the new features in this version allow consumers to store JPEG's that have been edited with computer software to be viewed on the television, which allows for more flexibility in creating custom slide shows."

Digital Photo Player connects to the television set via a standard composite video port or S-video port. The infrared remote serves as primary user interface for accessing and managing all images displayed on the television screen.

The Digital Photo Player is expected to ship in March with suggested retail pricing of $79.99. The player comes with free technical support and one-year warranty.

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 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 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 our business will not succeed unless the digital photography and market for our products market continues to grow and is accepted by professional, commercial and consumer users and we market our products film 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. 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.