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

FOR IMMEDIATE RELEASE

ROY, Utah, May 8, 2001 - Iomega Corporation (NYSE: IOM), a global leader in data management solutions, today announced that its HipZip™ Digital Audio Player Development Team has won the 2001 RIT/USA TODAY Quality Cup award in the Manufacturing Industry category.

At an awards ceremony on Friday, May 11, 2001, at the Rochester Institute of Technology (RIT) in Rochester, New York, the HipZip development team, selected from 146 entries, will be honored by both USA TODAY and RIT for its significant contribution to Iomega's quality improvement initiative. The HipZip team successfully reduced development cycle time, feasibility to ship, from 12 months to three months using Six Sigma tools to analyze and streamline processes. The HipZip team revolutionized Iomega's product development cycle and set a precedent for subsequent product teams.

"Winning the USA TODAY/RIT Quality Cup Award is an honor for Iomega," said Bruce Albertson, president and CEO, Iomega Corporation. "The HipZip team's use of Six Sigma principles achieved phenomenal results. They developed a quality product, focused on customer needs, and delivered it to market in record time. We couldn't be more proud."

Iomega implemented its Six Sigma program worldwide in 1999, resulting in permanent improvements to Iomega's development cycle times, product costs and customer service. Iomega's Six Sigma initiative has resulted in a cumulative two-year savings of approximately $110 million.

"RIT's multidisciplinary approach and strong focus on teamwork, excellence and creative problem solving are the very building blocks the Quality Cup Award was founded upon," said Dean Thomas D. Hopkins. "Iomega's HipZip team successfully utilized appropriate tools and have skillfully mastered the connection between theory and application."

"This award honors the specific individuals who use personal initiative to improve quality in the workplace," said Tom Curley, president and publisher of USA TODAY. "Honoring Iomega's HipZip team with this award is a pleasure as they exemplify high standards of quality and successfully implemented permanent solutions contributing to the long-term goals of the organization."

HipZip Digital Audio Player
Launched in September of 2000, Iomega's HipZip digital audio player combines affordable music storage with support for licensed digital downloads of copyrighted music and spoken word content. The HipZip player stores digital audio files on PocketZip™ 40MB disks and, compared to expensive SmartMedia™> and CompactFlash™, drastically lowers the cost of creating portable personal music collections. The HipZip player recognizes MP3 format and Microsoft Windows Media™ (WMA) format actively and is upgradeable to additional formats. It supports digital rights management (DRM) technology to secure commercial music content to PocketZip disks, offering artists and publishers protection from the unauthorized distribution of commercial content. The HipZip player has received many awards including Editor's Choice Award from T3 Magazine and MP3 Player of the Year from Gamersdepot.com.

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

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Copyright© 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. 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.