Concord Camera Corp. Announces Merger With Goldline -Europe- Ltd. Expanding Its Operations in the United Kingdom.

HOLLYWOOD, Fla.--(BUSINESS WIRE)--Nov. 4, 1999--

Concord Camera Corp. ("Concord") (NASDAQ National Market:LENS) today announced the merger of Concord Camera (Europe) Ltd. ("Concord Europe") with Goldline (Europe) Ltd. ("Goldline"), substantially expanding its retail sales and distribution business in the United Kingdom and throughout Europe. Both companies will operate as 100%-owned subsidiaries of Concord.

"Concord Europe and Goldline serve different channels," said Urs W. Stampfli, Director of Global Marketing and Sales for Concord. "Our combined market strength will enhance our corporate position in this very important marketplace. Concord has successfully grown its business by investing heavily in development, design, engineering, and manufacturing capabilities and has now added to its distribution business. We are pleased to have Harry Dodds, a well seasoned executive and entrepreneur with a wealth of experience join our Company and Management Team. Prior to founding Goldline, Harry was the Managing Director of Keystone Europe for thirteen (13) years (1975 to 1988). Harry will continue to be responsible for Goldline's business, and hold the position of Executive Chairman, including working and participating with us at Concord Europe."

Goldline distributes a well-known brand of cameras which are sold throughout the United Kingdom. A privately owned company headquartered in Coalville, Leicestershire, England, Goldline is particularly strong in the mail order and premium business with strong affiliations in other countries in Europe.

Mr. Stampfli added that the Goldline and Concord brands will operate with separate sales forces, and the Goldline brand will continue to be available to customers in Europe, as will Concord's brands - APEX by Keystone(R), Le Clic by Keystone(R) and Crayola by Keystone(R). Concord and Goldline have developed reputations for reliability that have and will continue to aid them in obtaining new retail business. In addition, they are set apart from the competition by endeavoring to add extra features to their products at comparable prices. These bonus features offer our customers and the ultimate consumer an enhanced sense of value.

Harry Dodds, Goldline's founder and majority shareholder, commented, "We are very excited about the merger. Concord makes an ideal partner for any company seeking to gain market share and new distribution channels. Their strength and reputation combined with Goldline's competencies will enable our alliance to have a dominant presence in the marketplace."

Concord is principally engaged in the development, design, manufacture, and sale of a wide range of innovative, popularly priced, easy-to-use Advanced Photo System, traditional 35mm, 110 cartridge, and 35mm and 24mm single-use cameras which it manufactures and assembles in the Peoples Republic of China on an OEM basis and under the trade names. APEX(R) by Keystone(R), Le Clic(R) by Keystone(R), Crayola by Keystone(R) and Goldline(R) and for sales outside the United States and Mexico, ARGUS(R) trade names, as well as private labels. The Company sells and markets its camera products worldwide through direct sales offices in the United States, Canada, Germany, Hong Kong, United Kingdom, France and through independent sales agents.

In addition to being a world leader in the rapidly growing single-use camera category, Concord is the world's largest producer of single-use cameras for the private label, corporate premium and original equipment manufacturer segments of the industry. The Company is also a leading original equipment manufacturer for leading photography, toy and other companies.