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

FOR IMMEDIATE RELEASE

Company Also Plans To Redeem Convertible Notes

ROY, Utah, September 8, 2000 - Iomega Corporation (NYSE:IOM), a global leader in data management solutions, announced today that its Board of Directors has authorized the repurchase of up to $150 million of the company's common stock from time to time on the open market or in privately negotiated transactions.
"We believe that repurchases of stock at prices which have prevailed in recent months is an attractive use of corporate funds," said Bruce Albertson, president and CEO, Iomega Corporation. "This action reflects our ongoing commitment to improving the investment value of our stock while at the same time profitably growing our business."
The timing and amount of any shares repurchased will be determined by the Company, based on its evaluation of market conditions and other factors. The company currently intends to use any repurchased shares in connection with its stock plans and for other corporate purposes.
In addition, Iomega announced that its Board of Directors has approved the call for redemption of all of the company's outstanding 6 3/4% convertible subordinated notes due March 15, 2001. Notes in an aggregate principal amount of approximately $45.5 million are currently outstanding.
The redemption price of the notes is $1,013.50 per $1,000 principal amount of notes, together with accrued and unpaid interest from September 15, 2000 to the redemption date. The interest payment due on September 15, 2000 to holders of record of the notes as of September 1, 2000 will be paid as scheduled. The notes are convertible into common stock at a conversion price of $4.9375 per share. The company said that full details concerning the redemption, including the redemption date, will be described in a notice to be sent to all holders of record of the notes at least 30 days prior to the redemption date.
The stock repurchase program and note redemption are expected to be funded using the company's available working capital. As of June 25, 2000, Iomega had cash, cash equivalents and temporary investments of approximately $354 million. Iomega had approximately 270.6 million shares of common stock outstanding as of June 25, 2000.

About Iomega
Iomega Corporation (NYSE:IOM) manufactures and markets the award-winning Zip(r), Jaz(r) and PocketZip( drives and disks and markets the ZipCD(tm) CD-RW drives and discs. Iomega's products help people to save, share, manage and create important information such as spreadsheets, slides, Internet downloads, audio files and personal photographs, 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 1-800-MY-STUFF (800-697-8833), or on the Web at http://www.iomega.com.

Statements in this press release regarding the company's intention to repurchase shares of its common stock from time to time under the stock repurchase program, the intended use of any repurchased shares and the company's plans to call its notes for redemption are forward-looking statements. There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements. These include, among others, the market price of the company's stock prevailing from time to time, the nature of other investment opportunities presented to the company from time to time, the company's cash flows from operations, general economic conditions, and other factors identified in Iomega's Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q filed with the SEC.

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Copyright (c) 2000 Iomega Corporation. Iomega, Zip, Jaz, PocketZip, Clik!, and ZipCD 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.