Concord Camera Corp. Ranked the 25th Best Small Company in America On Forbes Magazine's List of "200 Best Small Companies in America".

Business Editors

HOLLYWOOD, Florida--(BUSINESS WIRE)--Oct. 13, 2000

Concord Camera Corp. ("Concord") (NASDAQ: LENS) announced that it had been ranked the 25th fastest-growing company on Forbes magazine's comprehensive annual listing of the "200 Best Small Companies in America." To be included in the listing, companies must have demonstrated a 5% annual growth rate in both earnings per share and revenues for the past five years. Additionally, net income must have exceeded $1 million during the past four quarters. Concord had a five-year average growth rate of earnings of 171 percent which ranked 71st on the listing and a five-year average growth of sales of 23 percent which ranked 86th on the listing. Concord also posted a five-year average growth rate of return on equity of 17 percent which included a growth rate of the past twelve months of 30 percent and was ranked 68th in that category on the listing.

Commenting on the news, Ira B. Lampert, Chairman, Chief Executive Officer and President of Concord said, "We are very proud that Concord's historical success in growing both revenues and earnings in the traditional film based camera market has been recognized by being named to such a prestigious listing of companies. We expect to continue this success in the digital image capture market where our expanding digital camera business allows us to satisfy the needs of both our original equipment manufacture customers and of our retail sales and distribution customers."

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 trade names CONCORD(R), KEYSTONE(R), 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, 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, the United Kingdom, and France and through independent sales agents. The Company manufactures its products in its expansive, vertically integrated manufacturing facilities in the Peoples Republic of China, which include a class 10,000 "clean room" digital technology manufacturing and assembly facility. Concord employs in excess of 6,000 people worldwide in seven countries. Concord's fiscal year 2000 revenue was approximately $173 million.

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 1, 2000 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.