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

Analyst/Investors, please contact:
Thomas Kampfer, Iomega Corporation, (858) 314-7188

For Immediate Release

Iomega Micro Mini USB 2.0 Drive Makes Leap to 512MB Capacity

SAN DIEGO, July 23, 2004 ­ Iomega Corporation (NYSE: IOM), a global leader in data storage, today launched a new member of the Micro Mini™ family: The Iomega® Micro Mini(TM) 512MB* USB 2.0 Drive. Designed for the active lifestyle, the Micro Mini 512MB USB 2.0 drive offers high performance in a go-anywhere package that is half the size of conventional USB key drives. It is the ideal mobile device for large presentations, video clips, photo libraries, homework and other data.

Key Features
Iomega Micro Mini drives are among the smallest mobile storage devices available today. Weighing only 0.3 ounces (9 grams), the new Micro Mini 512MB USB 2.0 Drive delivers heavyweight file storage capacity that goes anywhere, no installation required**. The blinking of a blue LED reveals when the drive is active, delivering performance of up to 8 MB/sec. (read speed) from its solid-state memory without the fuss of AC adapters, power cables, or batteries. And uniquely in its category, the Micro Mini USB drive includes accessories like an illuminated USB extension cable, a key chain, a neck chain, and three brightly colored snap-on caps for easy customization.

Iomega Active Disk™ Software
Iomega's Micro Mini USB 2.0 drives are a natural platform for Iomega® Active Disk™ software. Active Disk powered titles are portable software programs that launch automatically from an Iomega Micro Mini USB 2.0 drive when it is plugged into any compatible PC. Active Disk titles never need 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). Active Disk titles help people stay organized, play games, and keep their data secure. Over 80 Active Disk titles are available for download at the Iomega Web site, www.iomega-activedisk.com.

Availability
The new Iomega® Micro Mini™ 512MB USB 2.0 Drive adds to the popular and comprehensive USB drive offerings from Iomega - your USB flash storage destination.   The Iomega Micro Mini 512MB USB 2.0 Drive is now shipping for $129.95 at catalog and online at www.iomega.com. Other drives in the Micro Mini USB 2.0 drive family include the Iomega Micro Mini 256MB USB 2.0 drive, $79.95; the Iomega Micro Mini 128MB USB 2.0 drive, $49.95; and the Iomega Micro Mini 64MB USB 2.0 drive, $39.95. (All prices are U.S. suggested retail).   All of these drives are available at catalog, online and select retail stores.

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 new 35GB Iomega REV™ Drive, popular Zip® 100MB, 250MB and 750MB drives, high-performance Iomega® HDD External Hard Drives in desktop and portable 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 1TB. 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 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, 2003, and its most recent Quarterly Report on Form 10-Q.

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* 1 MB = 1 million bytes.

** No installation required for Windows® 2000, Windows Me, Windows XP, Mac® OS 9 and above, and Linux 2.4.x. Drivers for Windows 98 and 98 SE available at www.iomega.com; drivers for Mac OS 8.6 available at www.apple.com.

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