Concord Camera Corp. and LightSurf Technologies, Inc. Announce Strategic Alliance.

Business Editors

HOLLYWOOD, Fla. & SANTA CRUZ, Calif.--(BUSINESS WIRE)--Feb. 12, 2001

Concord Camera Corp. ("Concord") (NASDAQ:LENS) and LightSurf Technologies, Inc. ("LightSurf") announced today that they have entered into a strategic alliance to develop next generation visual communications solutions for new and existing customers. These new products will leverage Concord developed front-end digital image capture and transmission devices and manufacturing expertise with LightSurf's wired and wireless digital media infrastructure platform. The alliance enables both companies to focus on their individual areas of expertise while providing the market with complete, lower-cost digital imaging solutions through a single point of contact.

Under the terms of the alliance, LightSurf will introduce Concord to current and future users of LightSurf technology that require assistance with the design, development and manufacturing of digital image capture and other image acquisition and transmission devices. Similarly, Concord will introduce LightSurf to Concord customers who require end-to-end visual communications solutions within LightSurf's expertise for wired and wireless digital media infrastructure. Additionally, both companies will work jointly towards the development of solutions for existing and new customer requirements.

Commenting on the news, Ira B. Lampert, Chairman, Chief Executive Officer and President of Concord said, "This alliance is the result of our efforts to further expand our business and relationships beyond traditional image capture. 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 alliances, now including LightSurf, provides us an opportunity to achieve this goal."

"The relationship between LightSurf and Concord will deliver high quality products and solutions to the marketplace by allowing each company to focus on our core competencies," said Philippe Kahn, Chairman and CEO of LightSurf. "With Concord's camera and image capture development, design and manufacturing expertise and LightSurf's visual communications technology, we provide a complete digital imaging solution for both the wireless and wired world."

"The convergence of digital imaging devices and next-generation wireless infrastructure technology will drive innovation in the emerging market for visual communications," said Alexis Gerard, President of Future Image, (a leading digital imaging journal). "Together, LightSurf and Concord are well positioned to achieve great market success."

About Lightsurf Technologies, Inc.

LightSurf is the leading provider of wireless digital media infrastructure, ecommerce technology and intellectual property based on the company's patent-pending digital media platform. The company's business areas include integrated wireless digital media solutions and system software, as well as licensing of the LightSurf digital media infrastructure and ecommerce technology to its partners. Headquartered in Santa Cruz, California, LightSurf is privately held. The company was founded in 1998 by leading industry visionary Philippe Kahn. For additional information regarding LightSurf, please visit our Web site at www.lightsurf.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 LightSurf Technologies, Inc. to differ materially from management's current expectations.

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. Concord's fiscal year 2000 revenue was approximately $173 million.

This press release contains forward-looking statements that involve numerous risks and uncertainties. Concord'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 Concord'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 July 1, 2000 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.