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

FOR IMMEDIATE RELEASE

ROY, Utah, May 15, 2001 - Iomega Corporation (NYSE: IOM), a global leader in data management solutions, today announced the U.S. shipment of its fastest CD-RW drive to date: the new 16X10X40X internal CD-RW drive.

Two standout features characterize Iomega's new 16X10X40X internal drive. The first is a true 16X write speed across the entire disc, allowing users to burn a 60-minute audio CD in less than five minutes. By comparison, some other CD-RW drives achieve their rated write speed only at the outer portion of the disc, resulting in slower burns. The second is the drive's high-performance 32X DAE (Digital Audio Extraction) speed, the rate at which a drive can rip an audio recording from a CD. With this drive users can rip a three-minute song from a CD in as little as six seconds.

"Iomega is expanding its product portfolio with the 16X10X40X CD-RW drive to meet the changing performance needs of our customers," said Doug Collier, senior vice president, marketing and product management, Iomega Corporation. "This fast, easy-to-use new Iomega drive delivers another ideal solution for recording and storing music and digital photos."

The new 16X10X40X internal drive is currently shipping and sells for $199 (U.S. estimated retail) after a $50 mail-in savings offer.

Users of the 16X10X40X drive will benefit from a software suite that includes Adaptec(r) Easy CD Creator(tm), Adaptec DirectCD(tm), Adaptec Toast(tm), MusicMatch(r) Jukebox(tm) Plus, Iomega QuikSync software (30-day trial version) and Adobe(r) ActiveShare(tm) software.

Iomega CD-RW Drives
Iomega CD-RW drives are available worldwide. Iomega offers three internal drives compatible with any Windows( PC and two external drives compatible with both Windows and Macintosh(r). Varying speeds meet the diverse needs of users: 16X10X40X (internal) with BURN-Proof(tm) technology; 12X10X32X (internal) with BURN-Proof technology; 8X4X32X (internal); 4X4X6X (external); and the versatile Predator (external) 4X4X6X with USB adapter and 8X4X32X with FireWire(r) adapter. All Iomega CD-RW drives are available at iomegadirect.com and are supported by Iomega's customer support team.

About Iomega
Iomega Corporation (NYSE:IOM) manufactures and markets the award-winning Zip(r), Jaz(r) and PocketZip(tm) drives and disks, the HipZip(tm) digital audio player, the FotoShow(tm) digital image center, LifeWorks(tm) software, and Iomega QuikSync(tm) software; Iomega also markets Iomega CD-RW drives, CompactFlash(tm) and SmartMedia(tm) memory cards, and the Iomega Microdrive(tm) miniature hard drive. 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.

NOTE: The statements contained in this release regarding production and distribution of the CD-RW internal drive, product pricing and availability, product performance and specifications, future applications for the new product and all other statements that are not purely historical, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements are based upon information available to Iomega as of the date hereof, and Iomega disclaims any intention or obligation to update any such forward-looking statements. Actual results could differ materially from current expectations. Factors that could cause or contribute to such differences include, but are not limited to, market acceptance of, and demand for, the CD-RW internal drive, any difficulties encountered in ramping up production or other manufacturing issues, including component availability and pricing, co-development, production, and distribution issues, product pricing and conformity to specifications, dependence upon third party suppliers, competition, intellectual property rights and other risks and uncertainties identified in the reports filed from time to time by Iomega with the U.S. Securities and Exchange Commission, including Iomega's Annual Report on Form 10-K for the year ended December 31, 2000, and its most recent Quarterly Report on Form 10-Q.

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Copyright(c) 2001 Iomega Corporation. All rights reserved. Iomega, Zip, Jaz, PocketZip, HipZip, FotoShow, Predator, QuikSync and LifeWorks are either registered trademarks or trademarks of Iomega Corporation in the United States and/or other countries. Adaptec Easy CD Creator and Direct CD are registered trademarks of Adaptec CD. MusicMatch is a trademark of MusicMatch, Inc. Adobe and ActiveShare are registered trademarks or trademarks of Adobe Systems Inc. Macintosh and FireWire are either trademarks or registered trademarks of Apple Computer Inc. Windows is a registered trademark of Microsoft Corporation in the US and/or other countries. BURN-Proof technology is a trademark of SANYO Electronic Co., Ltd. Microdrive is a trademark of IBM Corporation and is used with permission. Certain other product names, brand names and company names may be trademarks or designations of their respective owners.