Ritz Camera Centers and Lexar Announce a Distribution & Marketing Agreement
Press release from the issuing company
FREMONT, Calif., May 24, 2001 -- Lexar Media, Inc. (NSDQ: LEXR), a leading designer, developer and marketer of high-performance digital film memory cards and connectivity products for digital photography and electronics, today announced a comprehensive distribution and marketing agreement with Ritz Camera Centers, Inc., the nation's largest photo retailer with about 1,000 locations in 47 states. Under the agreement, the two companies will jointly develop a co-branded CompactFlash(tm) and SmartMedia(tm) digital film and card reader product line under the "Ritz Big Print Digital Film by Lexar Media" brand name. Ritz Camera has also agreed to distribute Lexar Media branded Memory Stick(tm), MultiMediaCards(tm), SD(tm) cards and card readers at Ritz Camera Centers throughout the U.S. and online at www.ritzcamera.com.
"Ritz is a leader in the photo retailing industry and I expect that they will be a top seller of digital film in the U.S. I am delighted they have selected Lexar Media as the right brand and partner for such a close business relationship," said John Reimer, president and CEO of Lexar Media. "Ritz has always prided itself in providing quality photographic products and services from leading brand names, making the selection of Lexar Media an honor we are all proud of."
Ritz will also distribute Lexar Media's Professional Series high speed CompactFlash Digital Film to meet the requirements of their professional customers. Lexar Media's Professional Series USB-enabled CompactFlash is the highest speed-rated CompactFlash product available today.
"Lexar Media is the only company to offer all formats of digital film and is known as the brand serious and professional photographers can rely on," said David Ritz, CEO of Ritz Camera Centers. "As we respond to our customers' needs in digital photography, it becomes more important than ever to develop a dedicated digital film program by partnering with a company focused on digital photography with the same level of quality and service as Ritz. That's why Lexar Media is our partner of choice."
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