Concord Camera Corp. Makes Announcement

Business Wire, July 30, 1998

AVENEL, N.J.--(BUSINESS WIRE)--July 30, 1998--Concord Camera Corp. ("Concord") (NASDAQ National Market: LENS) today announced consummation of a private offering of $15 million of its 11% senior notes due 2005 made pursuant to Rule 144A under the Securities Act of 1933. The senior notes were issued at a price equal to 99% of the face amount thereof. The net proceeds from the placement will be used to support the Company's continued growth.

Concord Camera Corp. is principally engaged in the manufacture and sale of popularly-priced, easy-to-use, conventional and single-use 35 millimeter and Advanced Photo System cameras and 110 cartridge cameras which it manufactures and assembles in the Peoples Republic of China on an OEM basis and under the trade names CONCORD(r), KEYSTONE(r), LE CLIC(r), APEX(r) and, for sales outside the United States and Mexico, ARGUS(r) trade names, as well as private labels. The Company sells and markets its camera products worldwide through direct sales offices in the United States, Canada, Germany, Hong Kong, Japan, United Kingdom, France and through independent sales agents.

  CONTACT: Concord Camera Corp.
            Harlan I. Press, Controller
            (732) 499-8280
                  or
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            Marie Driscoll (212) 836-9605
            Linda Latman   (212) 836-9609
            FAX ON DEMAND  (888) 329-2802