Stockholders have agreed to the merger of memory card manufacturer, Lexar Media, with memory chip maker, Micron Technology, that will see Micron acquiring all of the outstanding common stock of Lexar in a stock-for-stock merger.

June 19, 2006: Stockholders have agreed to the merger of memory card manufacturer, Lexar Media, with memory chip maker, Micron Technology, that will see Micron acquiring all of the outstanding common stock of Lexar in a stock-for-stock merger.

The merger agreements comes after amendments that provide an increase in the exchange ratio that each outstanding share of Lexar common stock would receive in the merger from 0.5625 shares of Micron common stock to 0.5925 shares of Micron common stock. The transaction, which follows an initial merger agreement entered into by both companies on 8 March 2006, was approved by more than 50% of the shares outstanding and more than 70% of the shares voting on the proposal. The transaction is expected to close as soon as practicable.

As 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). Lexar licenses its technology to companies including Olympus, Samsung, SanDisk and Sony. Lexar-branded memory cards are also sold worldwide. The company also sells memory cards under the Kodak brand through an exclusive agreement with Eastman Kodak.

Micron Technology is one of the world’s leading providers of advanced semiconductor solutions. Through its worldwide operations, Micron manufactures and markets DRAMs, NAND flash memory, CMOS image sensors, other semiconductor components, and memory modules for use in computing, consumer, networking, and mobile products. No information is currently available on future branding and marketing strategies for either company’s products. The official press release and information about the merger can be read at www.lexar.com.