Lexar Increases Performance of Platinum Memory Card Line; Faster Platinum II Cards Ideal for Rapid Fire Shooting and Full Motion Video.

LAS VEGAS -- Lexar Media, Inc. (Nasdaq:LEXR), a world leader in advanced digital media technologies, will showcase its new Platinum II offering, an enhanced version of the company's Platinum line of flash memory cards, at the 2006 Consumer Electronics Show (CES). Lexar's new Platinum II memory cards provide photographers with performance levels capable of sustained rapid-fire shooting and full motion video, two of the most popular and sought after features in digital cameras. The Platinum II CompactFlash memory card is speed-rated at 80X, capable of a minimum sustained write speed of 12MBs per second, while the Platinum II Secure Digital memory card is speed-rated at 60X, capable of a minimum sustained write speed of 9MBs per second. The Platinum II line also includes popular Memory Stick Pro and Memory Stick Pro Duo flash memory cards.

"With Platinum II, consumers can confidently choose from a practical line of memory cards that will allow them to take advantage of the advanced features in their digital camera," said Jim Gustke, vice president and general manager of memory cards at Lexar. "A minimum sustained speed-rating is a measurement of how quickly content can be written to the card. By speed-rating our Platinum II line of cards -- and performance testing each before they ship -- we're providing a higher level of confidence to the consumer during the flash memory buying process."

"The significant performance enhancement of our Platinum II flash memory cards directly addresses the growing number of consumers who demand high-speed cards for high-speed applications. Also, Platinum II cards satisfy the needs of retailers who want to offer their customers high-performance cards that work best with their digital camera," he added.

In addition to a significant performance enhancement, the Platinum II cards are now available in newly designed packaging intended to be easily identifiable in retail stores. The new packaging is aligned with Lexar's Professional line of memory cards and accessories, and clearly communicates flash memory card format, capacity and speed.

"Rapid-fire shooting and video capture are two features that continue to move up the consumer photography priority list," said Ed Lee, digital imaging analyst, InfoTrends/CAP Ventures. "High-speed cards, including those within Lexar's Platinum II line, are ideal for in-camera applications that require the user to write captured information to his or her card without interruption."

Lexar Platinum II flash memory cards are currently available at a wide variety of photo-specialty and consumer electronic retail stores, and through a variety of online resellers. More information on Lexar's photography products can be found at www.lexar.com. The full line of Platinum II flash memory cards will be shown in Lexar's booth at CES #30723, South Hall.

About Lexar Media, Inc.

Lexar is a leading marketer and manufacturer of NAND flash memory products including memory cards, USB flash drives, card readers and ATA controller technology for the digital photography, consumer electronics, industrial and communications markets. The company holds over 92 issued or allowed controller and system patents, and licenses its technology to companies including Olympus Corporation, Samsung Electronics Co., Ltd., SanDisk Corporation and Sony Corporation. Lexar sells its memory cards worldwide and through an exclusive agreement, also sells memory cards under the Kodak brand. Headquartered in Fremont, California, Lexar has operations in countries around the world. More information is available at www.lexar.com.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements, which are subject to the safe harbor provisions of the Private Litigation Reform Act of 1995. These statements include statements related to the digital photography market, the benefits and availability of, and consumer demand for, Lexar's products, including Lexar Platinum II memory cards, and the growth opportunities available to Lexar. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those anticipated by these forward-looking statements. These risks include that the growth and success of our business depends on our ability to achieve and maintain technology leadership, and develop, sell and market products that are commercially accepted. Readers should also refer to the risk factors described in our filings with the SEC, including our most recently filed Form 10-K and Form 10-Q. We assume no obligation to update the information in this release.

Lexar the Lexar logo are trademarks of Lexar Media, Inc. All other brand or product names are trademarks or registered trademarks of their respective holders.