Analyst/Investors, please contact:
Barry Zwarenstein, Iomega Corporation, (858) 314-7190

For Immediate Release

Iomega Ships Fifty Millionth Iomega Zip Drive
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Iomega Celebrates With Rebates On Iomega Zip Drive Purchases

SAN DIEGO, June 17, 2003 - Iomega Corporation (NYSE: IOM), a global leader in data storage, today announced that the Iomega® Zip® drive has reached the 50 million milestone: more than 50 million Iomega Zip 100MB, 250MB, and 750MB drives have been shipped worldwide. As part of the celebration, Iomega is offering up to $50 back on the purchase of select Iomega Zip drives.

From now until June 28, Iomega is offering a $50 mail-in rebate on the purchase of a Zip 750MB Drive, and a $30 mail-in rebate on the purchase of a Zip 250MB Drive or a Zip 250MB Drive Starter Kit. Purchases can be made at www.iomegadirect.com or at participating retailers. For more information, log on to http://download.iomega.com/com/mir/zip250_750_mir_q2.pdf

Launched in 1995, the Iomega Zip drive is one of the most successful personal computer products ever. Home and business users have adopted the Zip platform by the millions, cementing its reputation as the reliable, high-capacity removable storage standard that is rugged, convenient and secure. With firmware-based password protection, drag-and-drop file management, and high read-write speeds (the Zip 750MB drive outpaces most CD-RW drives in rewritable performance), the Zip platform continues to be a favorite portable storage solution for users today.

Iomega and HP will be offering introductory specials on select Zip 250 ATAPI drives and Zip250MB disk purchases throughout the month of June. For a limited time, Iomega is also offering its IomegaWare™ software, along with an additional suite of software, as free downloads from its website to HP customers.

“HP always strives to provide its customers with the best possible computer products and solutions in the marketplace,” said Bob Ducey, Memory and Storage product line marketing manager, business desktops, HP Personal Systems Group. “Iomega’s Zip drive is recognized as one of the easiest to use portable storage solutions for computer users that need to transport and share large files. The Iomega Zip Drive is an added value for buyers of our new line of HP Compaq Business Desktop PCs.”

Origins
The original Zip® 100MB drive first captured public attention at its unveiling in November 1994 at Comdex Las Vegas. When it went on sale in March 1995, the little blue drive was heralded as a model of simplicity and a welcome splash of color in a world of beige PCs.

Superior performance set the Zip drive apart from its peers. It transformed the removable storage category with a disk that could hold 100 MB of data—a sensational improvement on the 1.44 MB floppy—and became one of the fastest selling peripherals in the history of computing. Computer users everywhere were ready for a low-priced, reliable, high-capacity removable magnetic drive with superior portability.

Zip Products Today
Other storage technologies have come and gone, but Zip drives and disks continue to be a popular option for easy file backup, security and portability for users who want to protect their valuable digital information.

Today’s Zip 750 drive is more than six times faster and holds 7.5 times more data than the original Zip 100MB drive. A single Iomega Zip 750MB disk holds about the same amount of data as 520 floppy disks, and a Zip 750MB drive reads and writes that data more than 100 times faster. A Zip 750MB drive outperforms 40x CD-RW drives in most operations and offers more capacity and convenience.

Every Zip disk made—over 315 million Zip disks have now been shipped by Iomega—has the same appealing and practical design as the original. Zip disks are pocket-sized. They have a rugged plastic shell that is stronger than a floppy disk and does not scratch like a CD. Zip disks are password-protectable and extremely reliable, with built-in error correction capabilities.

Celebration Offer
As part of the kickoff of Iomega’s celebration, the company is offering U.S.-based users mail-in rebates up to $50 off select Zip Drive purchases through June 28, 2003. Rebate requests must be postmarked by July 31, 2003. Offer subject to certain terms and conditions.

About Iomega
Iomega Corporation provides easy-to-use, high value storage solutions to help people protect, secure, capture and share their digital information. Iomega’s award-winning storage products include the popular Zip® 100MB, 250MB and 750MB drives, high-performance Iomega® HDD Portable Hard Drives and Iomega® HDD Desktop Hard Drives, the Iomega® Mini USB Drive, Iomega® external CD-RW drives, DVD drives and the Iomega® Floppy USB-Powered Drive. Iomega simplifies data protection and sharing at home and in the workplace with Iomega® Automatic Backup software, Iomega® Sync software, HotBurn® CD-recording software, and Active Disk™ technology. For networks, Iomega® NAS servers offer capacities of 160GB to 1.4TB. For unlimited capacity and anytime, anywhere access, Iomega offers iStorage™, the secure online storage choice. Iomega also offers businesses and consumers a comprehensive data recovery services solution for recovering lost data due to hardware failure, file corruption or media damage. 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 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, 2002, and its most recent Quarterly Report on Form 10-Q.

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Copyright© 2003 Iomega Corporation. All rights reserved. Iomega, Zip, Active Disk, HotBurn and iStorage 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.