Analyst/Investors, please contact:
Barry Zwarenstein, Iomega Corporation, (801) 332-3585

For Immediate Release

IOMEGA CORPORATION ANNOUNCES TWO NEW DIRECTORS

SAN DIEGO, May 10, 2002 - Iomega Corporation (NYSE: IOM) today announced that the company's 2002 annual meeting of shareholders will be held Wednesday, May 15, 2002, at the Wyndham Garden Hotel, 5975 Lusk Boulevard, San Diego, CA, at 10:00 am Pacific Time. The record date for the annual meeting, as previously announced, was March 20, 2002, and only shareholders of record on that date are entitled to vote at the meeting. Iomega Corporation also announced plans to webcast the annual meeting. The live audio broadcast and replay will be available through http://www.iomega.com/about/investor/.

Mr. Dunn said, “Iomega’s Directors are very pleased that two outstanding individuals, Louis Caldera and Stephen N. David, have agreed to accept election to our Board.”

Louis Caldera is currently Vice Chancellor for University Advancement for the California State University System. A West Point graduate class of 1978, he served as Secretary of the Army from 1998 to 2001. He previously had served as Managing Director and Chief Operating Officer of the Corporation for National and Community Service, a federal grant-making agency with a budget of $600 million.

Prior to his Washington assignments, Mr. Caldera was a member of the California State Legislature for five years and prior to that, a Deputy County Counsel for the County of Los Angeles. He had worked four years at two Los Angeles law firms subsequent to his graduation in 1987 from a joint program of Harvard Business School and Harvard Law School. He also served for five years in the Army subsequent to his graduation from West Point.

In recent years, Mr. Caldera was awarded the Distinguished Civilian Service Award by the Department of Defense. He received an Honorary Doctor of Public Administration degree from Norwich University, the Chairman’s Award from the U.S. Hispanic Chamber of Commerce and the League of United Latin American Citizens National Legislature Award.

Mr. Caldera is a Director of BELO Corporation (NYSE), a media company with a diversified group of television broadcasting, news publications, cable news and interactive media operations.
Stephen N. David, Chief Information Officer and Business-to-Business Officer of the Procter & Gamble Company, Cincinnati, Ohio, was also elected to the Board.

A native of Lincoln, Nebraska, Mr. David graduated from the University of Nebraska in 1970 after which he joined Procter & Gamble as a sales representative. He subsequently took a leave of absence during which he served as a Captain in the United States Army and rejoined Procter & Gamble as a sales representative in 1973.

His career at Procter & Gamble has spanned many diverse assignments and country postings. In 1982 as Senior Project Manager, Customer Services, Mr. David led the deployment of the first personal computers for the company. In 1986 he was named Country Manager P&G Hellas (Greece), and in 1989, General Manager – Arabian Peninsula. He returned to the United States in 1992 and had several assignments including global responsibility for the company’s sales organization. His experience in line management and Customer Business Development, combined with his personal passion for IT and involvement in the current business-to-business work, contributed to his being named, effective July 1, 2000, as Chief Information Officer and Business-to-Business Officer with overall responsibility for Procter & Gamble’s internet strategy.

This last appointment reflects the increasing importance of information technology in accelerating sales growth and managing costs. It also positions Procter & Gamble to capitalize on tremendous opportunities in the business-to-business arena where a faster, more efficient, and seamless supply chain can be created.

Mr. Dunn said, “All the members of Iomega’s Board are very enthusiastic regarding the anticipated contribution of these new members to our Board. Both new Directors are individuals of substantial achievement with experience and patterns of accomplishment which should make them very valuable Directors.”

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 storage solutions include the popular Zip® 100MB and 250MB drives, high performance portable hard drives that feature capacities from 10GB to 30GB, external hard drives that will offer capacities from 40GB to 120GB, and external CD-RW drives. Iomega QuikSync™ automatic backup software and HotBurn® CD-recording software simplify data protection and sharing at home and in the workplace. For networks, Iomega’s new line of NAS servers offers capacities of 120GB to 480GB. The Company can be reached at 1-888-4-IOMEGA (888-446-6342), or on the Web at http://www.iomega.com.

Special Note Regarding Forward-Looking Statements
All statements contained in this release 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 based on a number of unforeseen risk factors, including but not limited to the 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 most recent annual report on Form 10-K.

Copyright© 2002 Iomega Corporation. All rights reserved. Iomega, Zip, Peerless, Predator, DataSafe, QuikSync, HotBurn and LifeWorks 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.