Lexar Media Samples World’s First 8Gbit NAND Flash From Samsung

Companies’ Latest Technologies to Produce the World’s Highest Capacity and Fastest Removable Memory Solutions

FREMONT, CA, December 15, 2003 -- Lexar Media, Inc. (Nasdaq: LEXR), a leading designer, developer and marketer of high-performance digital media and accessories, today announced that the company has begun sampling Samsung Electronics’ first 8Gb NAND flash memory device. The new high-density chips, combined with Lexar Media’s next-generation controller technology, will enable Lexar Media to increase the performance and storage capacity of its award winning memory cards and USB flash drives.

“Photographers consistently demonstrate an insatiable appetite for fast, high-capacity digital storage and our close relationship with Samsung allows us to be the first to deliver it,” said Eric Stang, chairman, president and CEO, Lexar Media. “Our collaboration with Samsung allows us to maximize the capabilities of their flash memory through advanced features programmed into our controller.”

“Our 8Gbit quad-die NAND flash using single level cell (SLC) technology offers a superior, reliable high performance storage solution over substantially slower multi level cell (MLC) solutions,” said Jon Kang, Senior Vice President of Samsung Electronics’ memory product planning and application engineering team. “Our SLC technology is not only low cost but also performs ideally for high-end, high performance applications such as digital still and video cameras allowing consumers to take consecutive pictures more quickly and enabling continuous recording of high quality video.”

Lexar Media’s next generation technology will produce faster write speeds in high-density memory through more efficient operation. Historically, Lexar Media's proprietary and patented controller has allowed many sectors of flash memory to be programmed without any erase cycles, and erases blocks in the background when the system is idle for faster performance. Included in the new architecture are pipelining and streaming technology to enable smooth transfer of data without interruption, which further increases the speed at which data is written and read.

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 over 60 controller and system 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 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 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, 2002 filed with the SEC on March 31, 2003, as amended on July 31, 2003. Lexar Media assumes no obligation to update the forward-looking information contained in this news release.