A memory device and method of erasing same that includes a substrate of semiconductor material and a plurality of memory cells formed on the substrate and arranged in an array of rows and columns. Each of the memory cells includes spaced apart source and drain regions in the substrate, with a channel region in the substrate extending there between, a floating gate disposed over and insulated from a first portion of the channel region which is adjacent the source region, a select gate disposed over and insulated from a second portion of the channel region which is adjacent the drain region, and a program-erase gate disposed over and insulated from the source region. The program-erase gate lines alone or in combination with the select gate lines, or the source lines, are arranged in the column direction so that each memory cell can be individually programmed, read and erased.