Concord Camera Corp. Recognized among Top 10 U.S. Digital Camera Suppliers for Calendar 2002; Company Ranked #1 in Simple VGA Segment and #8 in Point and Shoot Category.

Business Editors

HOLLYWOOD, Fla.--(BUSINESS WIRE)--Feb. 28, 2003

Concord Camera Corp. ("Concord") (NASDAQ National Market: LENS) announced today that its digital camera products ranked in the top ten of U.S. digital camera suppliers for calendar 2002 according to IDC (a division of IDG), one of the world's leading providers of industry analysis and market data.

This marks the first time in Concord's history that the Company has been named among the top ten U.S. digital camera suppliers.

According to IDC, Concord dominated U.S. shipments in the "Simple VGA" segment, with a 16% market share in calendar 2002 and a 29% market share in the fourth quarter of calendar 2002 (Concord's fiscal 2003 second quarter). In the "Point and Shoot" segment, IDC data indicates that Concord achieved a 4% market share of U.S. shipments in calendar 2002 and a 6% market share in the fourth quarter of calendar 2002 (Concord's fiscal 2003 second quarter).

IDC divides the digital camera market into two main segments: (1) "Simple VGA cameras" that offer a resolution of 640 x 480 pixels ("VGA") and no Liquid Crystal Display ("LCD") for image composition and review; and (2) "Point and Shoot" cameras that offer resolutions ranging from VGA to five (5) megapixel, an LCD, removable memory and a variety of feature sets and picture resolutions.

In commenting on the news, Ira B. Lampert, Chairman, Chief Executive Officer and President of Concord, said, "It is the first time that Concord has been recognized among the top ten U.S. digital camera suppliers. We are proud to be the leading supplier in the entry-level "Simple VGA" segment and to have a significant share of the "Point and Shoot" segment. We believe the significant increase in our market share in the "Point and Shoot" segment was driven by our offering of products priced around or under $99 at retail. These results validate our commitment to developing, designing, manufacturing, and marketing high quality, popularly priced products and our strategy to become the leader in the opening price point segment of our industry. Our significant increase in market share during calendar 2002 reinforces our belief that growth opportunities exist for our company as the digital camera market is evolving from early adopters towards mass consumers and distribution channels."

About Concord Camera Corp.

Concord Camera Corp. is a global developer, designer, manufacturer and marketer of high quality, popularly priced, 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 trademarks POLAROID(R), CONCORD(R), KEYSTONE(R), CONCORD EYE Q(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, 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 People's Republic of China, which includes a class 10,000 "clean room" digital technology manufacturing and assembly facility. The Polaroid trademark is owned by Polaroid Corporation and is used by Concord under license from Polaroid.

Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements, including statements regarding the future availability of new camera models, involve risks and uncertainties which may affect the Company's business and prospects, including the risks discussed under "Risk Factors" in the Company's 2002 Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission. Any forward-looking statements contained in this press release represent our estimates only as of the date hereof, or as of such earlier dates as are indicated, 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.