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

FOR IMMEDIATE RELEASE

ROY, Utah--(BUSINESS WIRE)--May 23, 2000--Iomega Corporation (NYSE: IOM), a global leader in data management solutions, announced that it has elected to terminate a $75 million revolving credit facility two months prior to expiration. The credit facility was due to expire on July 14, 2000. "Our positive cash flow, strong liquidity position and reduced financing needs led us to cancel this facility," said Tracy Welch, treasurer, Iomega Corporation. "We have not borrowed any funds under this or any other credit facility in over a year. By canceling this facility early we are reducing fees and eliminating certain financial restrictions." About Iomega Iomega Corporation (NYSE:IOM) manufactures and markets the award-winning Zip(R), Jaz(R) and Clik!(TM) 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 information 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. Copyright(c)2000 Iomega Corporation. Iomega, Zip, Jaz, 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. --30--lma/ix* CONTACT: Iomega Corporation, Roy Chris Romoser, 801/332-3678 (Media) romoser@iomega.com Jim Recob, 801/332-4430 (Investors) recob@iomega.com Tracy Welch, 801/332-3112 (Investors) welcht@iomega.com