Concord Camera Corp. Announces Expanded Roles for Several Current Executives and the Appointment of Key Executives.

Business Editors

HOLLYWOOD, Fla.--(BUSINESS WIRE)--Feb. 25, 2002

Concord Camera Corp. ("Concord" or the "Company") (NASDAQ National Market: LENS) today announced that it has expanded the roles of several executives.

Brian F. King, a Senior Vice President of Concord since August 1998, has been promoted to Senior Executive Vice President and Chief Operating Officer. He will be responsible for all aspects of Concord's worldwide business and will be responsible for Corporate Development including Strategic Planning, Mergers, Acquisitions and Alliances and will continue to report to Ira B. Lampert, Concord's Chairman, Chief Executive Officer and President. Keith L. Lampert, Vice President of Worldwide Operations since March 2001 and Managing Director of Concord Camera HK Limited since April 2000, has been promoted to the position of Executive Vice President Concord Camera Corp., Director of Worldwide Operations and continues as Managing Director of Concord Camera HK Limited. He will continue to oversee the day-to-day Asian Operations and also be responsible for Engineering and Product Development, Manufacturing, Supply Chain, Operations, Information Technology, OEM Business Development and Marketing and will report to Brian F. King, Senior Executive Vice President of Concord Camera Corp. Urs W. Stampfli, who has been the Vice President and Director of Global Sales and Marketing since April 2000, has been promoted to Senior Vice President for Concord Camera Corp., Director of Global Sales and Marketing. He will continue to oversee the global efforts of Concord's Retail Sales and Distribution ("RSD") business with an intensified focus on increasing market penetration of new and existing customers and products, expanding new product categories and increasing sales worldwide and will report to Brian F. King, Senior Executive Vice President of Concord Camera Corp.

David Wand, who has been Director of Supply Chain and Information Systems since January 2000 for Concord Camera HK Limited, has been promoted to Vice President and Director of Worldwide Supply Chain and Information Technology of Concord Camera Corp. He will be responsible for the World Wide Supply Chain, Operations and Information Technology Functions including the management of our warehouses, product distribution, inventory functions and all related personnel.

Joseph Leonardo, who has been Vice President and Director of Operation of Concord Camera HK Limited since January 2001, has been promoted to the position of Vice President Concord Camera Corp., Director of Manufacturing Operations and Deputy Managing Director of Concord Camera HK Limited. He will oversee the day-to-day China Operations. David and Joseph will report to Keith Lampert, Executive Vice President Concord Camera Corp., Director of Worldwide Operations and Managing Director of Concord Camera HK Limited. Bruce Crowder, who has been Director of Engineering of Concord Camera HK Limited since August 2000, has been promoted to Vice President Concord Camera HK Limited and Director of Manufacturing Technology. He will be responsible for leading our manufacturing and technology teams towards new levels of productivity and efficiency. Bruce will report to Gerald Angeli, Vice President, Worldwide Engineering and Technology.

In addition, Larry Swensen has joined Concord Keystone Sales Corp. as Vice President in charge of Retail Sales. This new position was created in response to the significant growth of Concord's RSD business. He will be responsible for the RSD Business and managing and coordinating Concord's Americas sales efforts and will report directly to Urs W. Stampfli, Senior Vice President for Concord Camera Corp., Director of Global Sales and Marketing. Previously, Larry was Vice President of Sales and Marketing for Polaroid Corporation's U.S. Consumer Digital Products. Prior to Polaroid Corporation, Larry began his twenty-two year photographic industry career, with Eastman Kodak Company, in various sales assignments.

Commenting on the news, Ira B. Lampert, Chairman, Chief Executive Officer and President of Concord said, "We are very pleased to announce these important and critical leadership roles. As Concord continues to grow, the Company's executives continue to play a crucial role in helping Concord continue to successfully grow its business and confirm its world-class standing. We strongly believe that these organizational changes will better align our structure with our current functional objectives."

About Concord Camera Corp.

Concord Camera Corp. is a global developer, designer, manufacturer and marketer of high quality, low cost, digital, instant, Advanced Photo System (APS), and 35mm format cameras and 35mm, APS, and instant format single-use cameras. Concord markets its cameras under the trade names CONCORD(R), KEYSTONE(R), CONCORD EYE Q(TM), LE CLIC(R), GOLDLINE(R), APEX(R), and ARGUS(R). Today, Concord is one of the world's leaders in the single-use camera category, one of the fastest growing segments of the camera market, and the largest producer of single-use cameras in the world in the private label, corporate premium and original equipment manufacturer segments of the industry. Concord sells and markets its camera products worldwide through direct sales offices in the United States, Canada, Germany, Hong Kong, the United Kingdom and France and through independent sales agents. Concord manufactures its products in its expansive, vertically integrated manufacturing facilities in the Peoples Republic of China, which includes a class 10,000 "clean room" digital technology manufacturing and assembly facility.

This press release contains forward-looking statements that involve numerous risks and uncertainties. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Company's filings with the Securities and Exchange Commission, some of which are summarized under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2001 and subsequently filed reports. In particular, timely introduction of Concord's new digital cameras will require satisfactory completion of our development effort and initiation of full-scale production. Furthermore, terrorist attacks in New York and Washington, D.C. in September of 2001 have disrupted commerce throughout the United States and other parts of the world. The continued threat of terrorism within the United States and abroad and the potential for military action and heightened security measures in response to such threat may cause significant disruption to commerce throughout the world. To the extent that such disruptions result in delays or cancellations of customer orders, a general decrease in consumer spending, or our inability to effectively market and sell our products, our business and results of operations could be materially and adversely affected. We are unable to predict whether the threat of terrorism or the responses thereto will result in any long-term commercial disruptions or if such activities or responses will have a long-term material adverse effect on our business, results of operations or financial condition. Additionally, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.