Analyst/Investors, please contact:
Jim Recob, Iomega Corporation, (801) 332-4430 recob@iomega.com

FOR IMMEDIATE RELEASE

ROY, Utah, October 24, 2000 - Iomega Corporation (NYSE:IOM), a global leader in data management solutions, announced that it has completed the redemption of its 6 3/4% convertible subordinated notes, which were originally due March 15, 2001. Notes in an aggregate principal amount of approximately $45.4 million were redeemed. The notes were called for redemption on September 18, 2000.
For the three months and the nine months ended September 24, 2000, the company had 280.1 million and 281.5 million fully diluted shares outstanding, respectively, which included 9.2 million shares that would have been issued upon conversion of the notes. The note redemption was funded using the company's available working capital.
About Iomega

Iomega Corporation (NYSE:IOM) manufactures and markets the award-winning Zip(, Jaz( and PocketZip( drives and disks, the HipZip(tm) digital audio player, the FotoShow(tm) digital image center, and Iomega Quik Sync 2 software; Iomega also markets Iomega CD-RW drives and discs. Iomega's products help people to save, share, manage and create important information such as Internet downloads, audio files, personal photographs, spreadsheets, and slides, while protecting that content from viruses and hackers. Used in homes, businesses, government and educational facilities and by creative professionals everywhere, Iomega storage solutions are the enabling technologies preferred by millions. The Company can be reached at 1-888-4-IOMEGA (888-446-6342), or on the Web at http://www.iomega.com.

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Copyright (c) 2000 Iomega Corporation. Iomega, Zip, Jaz, PocketZip, HipZip, and FotoShow are either registered trademarks or trademarks of Iomega Corporation in the United States and/or other countries. Certain other product names, brand names and company names may be trademarks or designations of their respective owners.