Concord Camera Corp. Announces New Contract With AGFA-GEVAERT AG.

Business & Technology Editors

HOLLYWOOD, Fla.--(BUSINESS WIRE)--April 4, 2000

Concord Camera Corp. ("Concord") (NASDAQ National Market: LENS) announced today that it has executed a new definitive agreement ("contract"), for the exclusive supply of various single-use camera models (cameras) as an original equipment manufacturer ("OEM"), with AGFA-GEVAERT AG ("Agfa"). This latest contract continues an ongoing development, design and manufacturing relationship between Agfa and Concord dating back to 1995. The multiyear contract includes an option for an additional one-year extension, provides for certain minimum camera unit purchases by Agfa, and is anticipated to result in annual revenues of approximately $10 to $15 million. The cameras are manufactured and shipped from Concord's ISO 9002 certified manufacturing facility located in the People's Republic of China. Concord believes it is one of the global market leaders in the single-use camera segment of the camera industry, the fastest growing segment of the industry, and the largest supplier of single-use cameras for OEM, private label and corporate premium segments of the industry

Commenting on the news, Ira B. Lampert, Chairman, Chief Executive Officer and President of Concord said, "The award by Agfa of another long-term OEM contract continues to endorse our strategy of focusing on development, design and manufacturing excellence. It also demonstrates to the global marketplace that Concord possesses the development and design prowess, and world class manufacturing expertise to meet the exacting standards multinational market leaders must maintain to compete in today's fast paced and innovative marketplace."

Concord Camera Corp. is a global developer, designer, manufacturer and marketer of high quality, low cost, digital, instant, Advanced Photo System (APS), 35mm and 110mm format cameras and 35mm, APS, and instant format single-use cameras. Concord markets its cameras under the tradenames CONCORD(R), KEYSTONE(R), GOLDLINE(R), LE CLIC(R), APEX(R) and ARGUS(R). A licensing agreement with the world famous Crayola(R) brand name begun in the United States in 1995 has been expanded to include Canada, the United Kingdom, France, Australia and New Zealand. Today, Concord is one of the world's leaders in the single-use camera category, the fastest growing segment of the camera market, and the largest producer of single-use cameras in the world in private label, corporate premium and original equipment manufacturer segments of the industry. 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.

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 & 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 July 3, 1999 and updated in subsequently filed reports. In particular, expected sales increases could be adversely affected by production difficulties or economic conditions adversely affecting the market for the Company's products.