Media please contact:
Chris Romoser, Iomega Corporation, (858) 314-7148 romoser@iomega.com

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

For Immediate Release

Iomega Corporation Ships New Micro Mini USB 2.0 Drive

SAN DIEGO, January 26, 2004 - Iomega Corporation (NYSE: IOM), a global leader in data storage, today announced that it is shipping the new Iomega® Micro Mini™ USB 2.0 Drive, a fast solid-state USB drive in an ultra-small package.

The new Iomega Micro Mini USB 2.0 Drive improves on Iomega’s original Micro Mini drive with higher performance, while keeping the same sense of style and fun. Easy to carry and use, the Iomega Micro Mini USB 2.0 Drive comes in 64 MB and 128 MB capacities* that are perfect for sharing and saving photos, games, brief video clips, and other large files.

“Young people want a little style with their storage technology, and the Iomega Micro Mini USB 2.0 Drive is a cool design,” said Chris Maddox, product manager, Iomega Corporation. “This new drive is now even faster, which is important for a computing experience that feels more effortless and transparent.”

Speed and Style
The new Iomega Micro Mini USB 2.0 is the first Iomega product to provide Hi-speed USB (USB 2.0) interface technology in a super-compact, fun and playful design. Users can now transfer files at a speed of up to 8MB per second (read speed), making it more practical to manage presentations, photo, graphics, music, videos or even homework.

Lightweight at only 0.3 ounces (9 grams), the new Iomega Micro Mini USB 2.0 Drive fits in the smallest places and includes three snap-on caps in three different colors, a keychain, and an illuminating USB cable and dog tag lanyard (128 MB model only), that gives users the choice of carrying an Iomega Micro Mini drive or wearing one.

Features and Benefits
The Iomega Micro Mini USB 2.0 Drive provides convenient storage on the go, with no drivers to install (Windows® 2000 and above, Mac® OS 9 and above, Linux® 2.4.1) and no adapters, cable, power supply or batteries to carry. Users simply plug the drive into any USB 1.1** or USB 2.0 port for instant access to their working files.

The Iomega Active Disk™ Software Advantage
The Micro Mini USB 2.0 Drive can utilize Active Disk powered titles that are designed to launch automatically when the drive is plugged into any compatible PC. Active Disk titles are easy to use, need no installation, don't clutter the hard drive, and leave no trace on the host PC—even the user's related work is stored automatically on the Micro Mini USB 2.0 drive (the Active Disk driver is a one-time install, and is present on computers with IomegaWare installed). Over 80 Active Disk titles are available for download at the Iomega Web site, http://www.iomega-activedisk.com.

Price and Availability
The 64MB Iomega Micro Mini USB 2.0 Drive is currently available online and at retailers for $49.95. The 128 MB model of the Iomega Micro Mini USB 2.0 Drive will be available in March for $69.95. All prices are U.S estimated retail price.

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 External Hard Drives in desktop and network configurations, Iomega Mini USB Drives and Micro Mini USB Drives, Iomega external CD-RW drives, Iomega Super 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 2TB. 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 Micro Mini USB 2.0 Drive, 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, 2002, and its most recent Quarterly Report on Form 10-Q.

* 1 MB = 1 million bytes

** Using a USB 1.1 port limits the Micro Mini USB 2.0 Drive to USB 1.1 transfer rates.

Copyright© 2004 Iomega Corporation. All rights reserved. Iomega, Zip, REV, iStorage, HotBurn and Active Disk 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.