Analyst/Investors, please contact:
Barry Zwarenstein, Iomega Corporation, (858) 795-7188

For Immediate Release

New Iomega® CD-RW 48x24x48x USB 2.0 External Drive Now Shipping

SAN DIEGO, October 7, 2002 - Iomega Corporation (NYSE: IOM), a global leader in portable data storage, is now shipping the Iomega® CD-RW 48x24x48x USB 2.0 external drive for retail, catalog, and enterprise sales. With a streamlined new look, intuitive software, and the fastest CD-burning performance in the Iomega family of optical drives, the new Iomega 48x24x48x USB 2.0 drive delivers a premium platform for capturing and sharing music, photos, and other digital content.

"Iomega continues to be a market leader in external CD-RW drives because we deliver performance, style, and ease of use," said Werner Heid, president and CEO, Iomega Corporation. "I'm also very pleased with the success of bundling Iomega HotBurn and HotBurn Pro CD-burning software with our CD-RW drives. In-house software development is giving Iomega the ability to deliver total product solutions and improve the overall user experience."

Key Features
The Iomega CD-RW 48x24x48x USB 2.0 drive features buffer under-run protection, which lets users record safely even while multitasking. It offers hot plug-and-play capability with Microsoft® Windows® and Mac® OS operating systems, and its digital audio extraction rate (DAE) of 48x allows users to rip or burn a 60-minute CD in under 3 minutes. While maximum drive speed is attainable only with Hi-Speed USB connections, the drive is also fully backwards compatible with original USB systems, peripherals, and cables.

Included Software
Iomega® HotBurn® Pro software (PC) and HotBurn® software (Mac) provide a simple and powerful console interface that helps users complete most CD-burning tasks in just two easy steps. The new Iomega HotBurn Pro software complements the basic CD-RW support in Windows XP by adding true drag-and-drop file recording, an integrated console interface, integrated CD copying and CD imaging functions, compilation creation, and a jewel case and CD cover editor. It also adds a graphical audio layout editor; pop, click and hiss removal filters; bootable CD creation; and an advanced data manager for full control over file system and multi-session recording options. Additional bundled software includes Adobe® ActiveShare™ (PC only) and MUSICMATCH® Jukebox (Mac and PC) software.

Compatibility
The Iomega CD-RW 48x24x48x USB 2.0 drive is compatible with Microsoft Windows 98SE/2000/Me/XP, and with Mac OS 8.6, 9.04, 9.1 on the Power Macintosh G4 or G3 (blue and white G3 only) or iMac™ with built-in USB 1.1 connection. HotBurn for Mac supports USB 1.1 only.

Availability
The Iomega CD-RW 48x24x48x USB 2.0 drive with Iomega HotBurn Pro software is shipping now for availability at retail, distribution, catalog, and online at www.iomega.com for $179.95 (U.S. suggested retail price before $30 mail-in rebate).

About Iomega CD-RW Drives
Since 1999, Iomega-branded CD-RW drives have been used by consumers to capture and share their music and data. Current external optical drive offerings include the new Iomega CD-RW 48x24x48x USB 2.0 drive, the Iomega CD-RW 40x12x48x FireWire drive and CD-RW 40x12x48x USB 2.0 drive, and the Predator CD-RW 24x10x40x USB 2.0 drive. All Iomega CD-RW drives are bundled with Iomega HotBurn software.

About Iomega
Iomega Corporation provides easy-to-use, high value storage solutions to help people protect, secure, capture and share their digital valuables. Iomega's award-winning storage products include the popular Zip® 100MB, 250MB and 750MB drives, high-performance Iomega® HDD portable hard drives that feature capacities from 20GB to 30GB, Iomega® HDD external hard drives that offer capacities from 40GB to 120GB, and Iomega® external CD-RW drives. Iomega simplifies data protection and sharing at home and in the workplace with Iomega® Automatic Backup software, Iomega® Sync software, Iomega HotBurn™ CD-recording software, and Active Disk™ technology. For networks, Iomega NAS servers offer capacities of 120GB to 480GB. The Company can be reached at 1-888-4-IOMEGA (888-446-6342), or on the Web at www.iomega.com.

NOTE: The statements contained in this release regarding development, production and distribution of the Iomega product, anticipated product pricing and availability, expected 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, the successful completion of product development and testing, market acceptance of, and demand for, the Iomega product, 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, 2001, and its most recent Quarterly Report on Form 10-Q.

Copyright© 2002 Iomega Corporation. All rights reserved. Iomega, Zip, Predator, HotBurn and Active Disk are either registered trademarks or trademarks of Iomega Corporation in the United States and/or other countries. Microsoft and Windows are registered trademarks of Microsoft 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.