Concord Camera Corp. and Agilent Technologies Announce Strategic Alliance.

Business/Technology Editors

HOLLYWOOD, Fla. & PALO ALTO, Calif.--(BUSINESS WIRE)--Sept. 12, 2000

Concord Camera Corp. (NASDAQ:LENS) and Agilent Technologies Inc. (NYSE:A) announced today that they have entered into a strategic alliance to develop imaging solutions for new and existing customers. The alliance enables both companies to focus on their individual areas of expertise while providing the market complete, lower-cost imaging solutions through a single point of contact.

Under the terms of the alliance, Agilent will introduce Concord to users and potential users of Agilent technology and components that require complete solutions or assistance with the design, development and manufacturing of image acquisition devices. Similarly, Concord will introduce Agilent to Concord customers who require components and systems within the Agilent product line and expertise of Agilent. Additionally, both companies will work jointly towards the development of solutions for third-party existing, potential and new customer requirements, problems and issues.

There already exist various alliances in which both Concord and Agilent are participating that confirm their commitment to this process and strategy. The first product released as a result of the Concord and Agilent alliance is the KB Gear Interactive Inc. JamCam 3.0, which KB Gear recently began shipping to customers. Other digital image capture and transmission products resulting from these alliances are anticipated to be released for sale in early 2001.

Commenting on the news, Ira B. Lampert, Chairman, Chief Executive Officer and President of Concord said, "This alliance is the result of several years of joint efforts to develop imaging solutions for various Concord customers. As digital products become a more significant part of our business, we are continually cultivating opportunities to develop longstanding relationships and strategic alliances with world leaders in technology. We believe the expansion of our strategic alliance with Agilent provides us an opportunity to achieve this goal."

"We believe that a relationship of this nature would deliver to the marketplace complete imaging solutions for customers," comments Steve Hoffmann, vice president and general manager of Agilent's Imaging Electronics Division. "Not only do the capabilities of Agilent and Concord complement each other, but the high-volume, low-cost infrastructure of each company provides an optimal solution for consumer imaging products."

About Agilent Technologies Inc.

Agilent Technologies Inc. (NYSE:A) is a diversified technology company, resulting from Hewlett-Packard Company's plan to strategically realign itself into two fully independent companies. With approximately 46,000 employees serving customers in more than 120 countries, Agilent Technologies is a global leader in designing and manufacturing test, measurement and monitoring instruments, systems and solutions, and semiconductor and optical components. The company serves markets that include communications, electronics, life sciences and healthcare. In fiscal year 1999, the businesses comprising Agilent, then a subsidiary of HP, had net revenue of more than $8.3 billion.

Information about Agilent Technologies can be found on the Web at www.agilent.com.

This news release contains forward-looking statements, including without limitation statements relating to the availability and timing of product offerings, that involve risks and uncertainties that could cause results of Agilent Technologies to differ materially from management's current expectations. These risks are detailed in Agilent's Annual Report on Form 10-K for the year ended October 31, 1999, and its Quarterly Report on Form 10-Q for the quarter ended July 31, 2000, as filed with the Securities and Exchange Commission.

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), 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, 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 includes 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.