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 Increases Capacity of Mini USB 2.0 Drive To 1 Gigabyte

SAN DIEGO, May 19, 2004 - Iomega Corporation (NYSE: IOM), a global leader in data storage, today announced the expansion of its lineup of high-performance Mini USB drives with the new Iomega® Mini 1GB* USB 2.0 drive. With a data transfer rate of up to 9 MB/sec, the new USB drive delivers unbeatable performance and security in a small, easy-to-carry drive the size of a car key.

Iomega will unveil the new Iomega 1GB USB 2.0 Drive at next week’s CeBIT America tradeshow in New York City, May 25-27, 2004.

“The Iomega Mini USB 2.0 drive delivers speed, convenience and simplicity, making it more practical than ever to manage large files with a keychain drive,” said Sean Burke, vice president and general manager of mobile and desktop solutions, Iomega Corporation. “An added advantage is that it solves real-world security issues. Users can password-protect sensitive data and run Iomega Active Disk software titles directly from the drive. Portable applications, data security, and plenty of storage space—these are features that resonate with today’s customers.”

The Iomega Mini USB 2.0 Drive recently received a CNET Editors’ Choice award in a comparison review of USB drives (Apr. 2, 2004, review).

Key Features
Iomega’s Mini USB 2.0 Drive holds up to 1GB of data, yet weighs only 0.8 ounce (21.6 grams) and requires no cables, power adaptors or batteries. An interlocking metal ring rotates around the body to secure the cap when in transit, yet easily releases it when needed. A clear viewing window on the side of the drive makes it easy for users to personalize the drive by labeling its contents or adding pictures or company logos.

For added data security, the included Mini Lock software allows users to password-protect important data.

Like earlier Mini USB 2.0 products with capacities ranging from 128 MB to 512MB, the new Mini 1GB USB 2.0 drive is as small as a car key and is plug-and-play compatible—no drivers required—with Windows® Me, 2000, and XP, Linux 2.4.1, and Mac® OS 9.0 and above (Win 98/98SE require separate drivers, available at www.iomega.com; drivers for Mac OS 8.6 are available at www.apple.com). The Iomega Mini USB 2.0 drives are also backwards compatible with the USB 1.1 standard, operating at USB 1.1 data rates.

Performance
Iomega Mini USB 2.0 drives use Hi-Speed USB (USB 2.0) interface technology, which is standard on most new laptops and PCs. The benefit for users is dramatically higher performance: up to 9MB/sec. in reading files and 7MB/sec in writing files—up to nine times faster than drives based on the USB 1.1 standard. The gains in performance make transporting presentations, graphics, photos, music, and videos much more practical.

Iomega Active Disk™ Software
Active Disk™ powered titles are designed to launch automatically from an Iomega 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 Mini USB 2.0 drive (the Active Disk driver is a one-time install, and is present on computers with IomegaWare installed). The result for mobile professionals is a tool that not only helps them stay organized, but is also completely portable, easy to use, and secure. Over 80 Active Disk titles are available for download at the Iomega Web site, http://www.iomega-activedisk.com.

Requirements and Availability
The Iomega Mini 1GB USB 2.0 Drive is expected to ship June 7 and will be available for $279.95 at retail, catalog and online at http://www.iomega.com. Other drives in the Mini USB 2.0 line include the Iomega Mini 512MB USB 2.0 drive, $179.95; the Iomega Mini 256MB USB 2.0 drive, $99.95; and the Iomega Mini 128MB USB 2.0 drive, $59.95. (All pricing is U.S. suggested retail.)

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 Iomega REV™ 35GB 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 QuikTouch™ Video Burner; and Iomega Floppy USB-Powered Drives. 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® Mini 1GB* 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, 2003, and its most recent Quarterly Report on Form 10-Q.

* 1 GB = 1 billion bytes

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