Concord Camera Corp. Names Richard M. Finkbeiner as Senior Vice President and Chief Financial Officer.

Business Editors

HOLLYWOOD, Fla.--(BUSINESS WIRE)--Aug. 6, 2002

Concord Camera Corp. ("Concord") (NASDAQ National Market: LENS) today announced the appointment of Richard M. Finkbeiner as Senior Vice President and Chief Financial Officer ("CFO") effective July 22, 2002.

Mr. Finkbeiner joins Concord with more than 25 years of financial management experience from companies such as Hallmark Cards, Inc., Ektra Photofinishing/Fox Photo, NordicTrack, Inc. and Creative Computers, Inc. As CFO, Finkbeiner will report directly to Ira B. Lampert, Concord's Chairman, Chief Executive Officer and President, and will be responsible for the company's worldwide accounting, finance and corporate human resources.

Mr. Finkbeiner, 55, was most recently Vice President and Chief Financial Officer of Menasha Corporation, a privately held $1 billion manufacturing and services company based in Neenah, Wisconsin. He holds an M.B.A. in Finance and Accounting, an M.S. in Applied Mathematics, a B.S. in Mathematics/Computer Science and a CPA certificate.

"We are very pleased to welcome Rick to Concord's senior management team. He brings a wealth of business experience and a strong track record in financial management to the company," commented Ira B. Lampert, Chairman, Chief Executive Officer and President of Concord.

"I am very pleased to join the Company and help support its future growth. My experience, broad background and knowledge with public and private companies will help enhance the Company's finance and accounting departments," commented Rick Finkbeiner.

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 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 updated in 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. 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.