FREMONT, Calif., July 5, 2001 -- Lexar Media, Inc. (NSDQ: LEXR), a leading designer, developer and marketer of digital film and connectivity products for the digital photography market, announced today that Michael J. Perez, 54, has joined the company as Vice President and Chief Financial Officer. Mr. Perez will report directly to John Reimer, Lexar Media’s President and Chief Executive Officer, and will be responsible for the Company’s worldwide finance and IS functions. “Michael’s proven expertise is a tremendous boost to Lexar Media at this crucial time in the Company’s evolution,” said Mr. Reimer. “Given his extensive experience in managing the financial matters of multinational brand name consumer and technology based businesses, I expect that Michael will greatly enhance Lexar Media’s position in the ultra-competitive digital media storage marketplace. I personally welcome his leadership and participation as Lexar Media’s new CFO and have complete confidence in his ability to help us achieve our aggressive financial performance goals, including our goal of becoming profitable by the end of the 2001.” Throughout his 28-year career, Mr. Perez has held a variety of executive and management positions with some of the largest brand name technology companies in the world, including Intel Corporation, SyQuest Technology, Symantec, O.R. Technologies and Sydis.  Most recently, Mr. Perez served as Vice President of finance at the Monterey Bay Aquarium, in Monterey, California, where he was responsible for all finance, MIS and facilities functions. “Lexar Media has a dedicated team in its board of directors and its employees, including John andhis staff,” said Perez.  I am pleased to be working with this exceptional group to bring value to Lexar Media’s shareholders, customers and employees.  Lexar Media’s brand name and flash media technology leadership are known around the world, especially in the digital photography segment.  I’m excited to join a company so focused on the explosive digital photography market.” Mr. Perez earned a MBA in finance from the University of Santa Clara and a BS in accounting from San Jose State University. Mr. Reimer added, “I’d also like to thank outgoing CFO Ron Bissinger for his effort on behalf of Lexar Media. His guiding hand before, during and after the Company’s IPO will be the foundation for Lexar Media’s long-term growth. We all wish him well in his future endeavors.” Mr. Bissinger’s departure from Lexar Media has been scheduled for some time. He plans on spending more time with his family.