Just picked up one of the Peli 0915 memory card cases.

Case Features Include:

Water resistant seal
Stores 8 SD and 16 Mini-SD memory cards (not included)
Removable insert liner absorbs shock and protects memory cards
Made of tough Polycarbonate resin

The case is as well built as all other Peli products. Waterproof rating is IPX4 which is essentially splash proof and can hadle being out in the rain. If dropped in the water the chances are the case will leak.