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

For Immediate Release

Iomega Corporation Announces DCT — Breakthrough Miniature 1.5 Gigabyte Removable Storage Technology
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Working Samples Released To Original Equipment Manufacturers (OEMs) for Evaluation of Technology for use in Next Generation Consumer Electronics Products

SAN DIEGO, July 22, 2003 - Iomega Corporation (NYSE: IOM), a global leader in data storage, today announced a new 1.5 GB digital capture technology (DCT) platform designed for a new generation of digital entertainment products, including camcorders and portable video players, as well as portable PCs and smart handheld devices.

Working samples of Iomega's new breakthrough DCT drive and fully rewritable cartridge are now being evaluated by a select group of premier OEMs. The DCT cartridge, which is about the size of a half-dollar coin, weighs only 9 grams and employs a rugged stainless steel cartridge designed to protect important digital content from data loss, enabling truly mobile digital devices. Iomega's DCT platform partners include Fuji Photo Film Co. (Fujifilm), Ltd., Citizen Watch Co., Ltd. (Citizen), and Texas Instruments (TI). Iomega is working with other innovative companies with the goal to integrate DCT technology into their future products, and is progressing on a DCT development timeline that would enable potential OEMs to bring DCT-integrated products to market in the second quarter of 2004.

“Existing portable storage solutions in today’s consumer electronics products are too expensive, too slow, too fragile, or too power hungry for the coming generation of mobile devices,” said Werner Heid, president and CEO, Iomega Corporation. “Iomega’s exciting new DCT platform is different. It is being designed to offer the industry a low-cost drive with high capacity in a convenient form factor. It is a product designer’s dream because it can provide high capacity, rugged, shock resistant storage at low power consumption for small portable devices such as next generation camcorders, personal video recorders and tablet PCs.”

DCT Technology Alliances
Iomega’s DCT platform incorporates key enabling technologies from leading companies including Fujifilm, Citizen and TI. Such enabling technologies include a new magneto-resistive (MR) drive head design developed by Iomega and NANOCUBIC™ magnetic media coating technology developed by Fujifilm.

Toshio Kawamata, general manager, Technical Division, Recording Media Products Division, Fuji Photo Film Co., Ltd., said, “The media will provide potential recording capacity of up to 6Gb/square inch by applying Fujifilm’s new NANOCUBIC technology, which will be about 10 times higher in recording density than magnetic disks that are currently available. Fujifilm is looking forward to the presentation of this high density recording media through the introduction of Iomega’s DCT platform.”

Toshihiko Nakai, senior general manager, Information and Communication, Products Division, Citizen Watch Co., Ltd., manufacturer of the credit-card sized drive, commented: “Consumers want lower power consumption for long battery life; they want higher data transfer rates for exciting new digital video applications; and they want higher data capacity for a new cross-platform media standard. DCT delivers on all counts.”

Doug Rasor, vice president of strategic marketing, TI, said, “TI is excited to be working with Iomega to drive its new DCT technology. We are looking forward to augmenting DCT with TI’s real-time digital signal processing solutions to bring richer content, higher resolution and longer battery life to consumers.”

About Iomega
Iomega Corporation provides easy-to-use, high value storage solutions to help people protect, secure, capture and share their valuable digital information. Iomega’s award-winning storage products include the popular Zip® 100MB, 250MB and 750MB drives, high-performance Iomega HDD Portable Hard Drives Iomega HDD Desktop Hard Drives, Iomega Mini USB Drive, Iomega external CD-RW 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™ secure online storage. 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 DCT technology and product, anticipated product pricing and availability during second quarter 2004, the goal to have OEMs incorporate their product into their products, expected product performance and specifications including size, weight, capacity, ruggedness, cost, speed, mobility, power consumption and shock resistance, 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, technical difficulties or delays in the completion of product development and testing, market acceptance of, and demand for, the DCT product, any failure to achieve significant OEM acceptance of the DCT product, any difficulties encountered in ramping up production or other manufacturing or quality issues, including component availability and pricing, co-development, production, and distribution issues, product pricing and conformity to specifications, dependence upon third party suppliers and technical or supply difficulties at any such supplier, 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, iStorage, Active Disk and HotBurn 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.