Lexar Media to Develop Secure USB Storage-Based Technologies to Take Advantage of Windows Vista BitLocker
A lockable USB-based "start-up key" to support BitLocker Drive Encryption

Seattle, WA, May 23, 2006 - At WinHEC 2006, Lexar Media, Inc. (NASDAQ: LEXR), a world leader in advanced digital media technologies, announced the development of advanced, secure USB storage-based technologies. Lexar plans to work together with Phoenix Technologies, Ltd. to develop support for locking USB personal storage devices (PSDs) that can be used with the BitLocker Drive Encryption feature to be included in the upcoming release of Microsoft's upcoming Windows Vista. The technology developed by Lexar for BitLocker, will coordinate the PSD-Lock technology protection of Lexar's new enterprise-class SAFE PSD products with the pre-boot authentication capability of Phoenix Technologies' TrustedCore.

This technology will provide protection against unauthorized use of the USB Flash Drive (UFD) that enables the boot of a BitLocker-protected computer and also protect the BitLocker Drive Encryption keys held in the UFD when the UFD is not connected to the protected computer. Additionally, it will increase the functionality and value of products featuring Lexar's PSD-Lock technology, an embedded device access control technology that enables USB device locking.

Noted Farshid Tabrizi, Lexar General Manager, Enterprise and OEM Products: "At Lexar we're excited that Microsoft's BitLocker feature enables the optional use of a UFD to store the BitLocker encryption keys. Enterprise customers will benefit from the embedded device access control technologies in our secure enterprise class USB personal storage devices and secure pre-boot authentication functionality that allows an authentication process to be completed before the stored BitLocker Drive Encryption keys can be accessed from the UFD to boot Vista."

"We are pleased to be working with Lexar in the development of enhanced security for USB devices," said Robert Wise, vice president, product marketing. "The combination of Lexar's unique USB storage capabilities with Phoenix competencies in endpoint security and pre-boot authentication will bring best-of-breed solutions to our mutual enterprise customers."

Lexar's First Enterprise-Class USB Personal Storage Device Shown At WinHEC 2006
Also at WinHEC 2006, Lexar is demonstrating its recently introduced SAFE PSD S1100, the company's first enterprise-class USB Personal Storage Device, featuring a multi-layered security architecture. Two major components of the S1100's security architecture are Lexar's PSD-Lock technology, an embedded device access control technology that enables USB device locking, and onboard 256-bit "on-the-fly" AES hardware encryption. The S1100 Personal Storage Device (PSD) is developed for enterprises and government agencies that want their employees to be able to store and access data on PSDs, but also want to make sure that data is kept secure and private in case of device loss or theft.

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 98 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. 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 USB flash drive market, the benefits and availability of, and consumer demand for, Lexar's products, including the SAFE PSD S1100, and the growth opportunities available to Lexar. These forward-looking statements involve risks and uncertainties that could cause Lexar's actual results to differ materially from those anticipated by these forward-looking statements. These risks include the possibility that the market for the SAFE PSD S1100 may not develop as expected or that development of this product may not proceed as planned; that the growth and success of Lexar's business depends on its ability to achieve and maintain technology leadership, and develop, sell and market products that are commercially accepted; and that security technology by its nature is capable of circumvention such that Lexar cannot guarantee data will be 100% secure from unauthorized access, alteration or destruction. Readers should also refer to the risk factors described in Lexar's filings with the SEC, including its most recently filed Form 10-K and Form 10-Q. Lexar assumes no obligation to update the information in this release.

Company Contact:
Michael Raisanen
dba Public Relations
Ph. 212-388-1400
Fax: 212-388-1490
Email: mraisanen@dba-pr.com