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 Debuts New Iomega Mini USB 2.0 Drive

SAN DIEGO, January 29, 2004 - Iomega Corporation (NYSE: IOM), a global leader in data storage, today announced the availability of the newly redesigned Iomega Mini USB 2.0 Drive. Delivering up to nine times the performance of competing USB key drives, the new Iomega Mini USB 2.0 Drive is the perfect solution for mobile professionals that need high-speed portable storage that is secure and easy to customize.

“Computer users have really taken to the storage key format,” said Chris Maddox, product manager, Iomega Corporation. “People like to carry their presentations, graphics, and office files on them, knowing they can find a USB connector on just about any computer. The redesigned Iomega Mini USB 2.0 Drive, in capacities of 128MB, 256MB and 512MB, is the ideal storage key product for the professional that’s on the go.”

According to analysts, the worldwide market for solid-state USB key drives is expected to grow by over 500 percent* in 2004.

New Industrial Design
The new Iomega Mini USB 2.0 Drive is wrapped in a sleek, silver package that is both functional and striking. The redesigned drive cap now locks in place, with a swing arm, for added security. The drive itself includes a mini-window that lets users customize their drive with a photo or label.

Professional Features
The new Iomega Mini USB 2.0 Drive uses top-of-the-line components to enable high data transfers of up to nine times faster than drives based on the USB 1.1 standard technology. For users, higher transfers rates mean that presentations, graphics, photos, music, and videos are more portable and easily accessible.

“Iomega has taken the great portability of the key drive and dramatically improved on its read/write performance using state-of-the-art USB 2.0 technology,” Maddox continued. “Anyone routinely handling larger files will notice a huge improvement in file transfer rates with the new Iomega Mini USB 2.0 Drive.”

Like all Iomega USB Drives, the Iomega Mini USB 2.0 Drive operates without cables, adaptors, or power supply. The Iomega Mini USB 2.0 Drive is plug-and-play compatible with Windows® Me, 2000, and XP; Linux® 2.4.1 and above: Mac® OS 9.0 and above.

The Iomega Active Disk™ Software Advantage
Iomega Mini USB Drives support Active Disk powered software, allowing users to transport completely portable software applications that will run on any compatible PC. Active Disk titles launch automatically, won’t clutter the hard drive, and leave no trace on the host PC (the Active Disk driver itself is a one-time automatic install). Over 80 Active Disk applications, games, and utilities are available for download at the Iomega Web site, http://www.iomega-activedisk.com, including Microsoft® Reader, MusicMatch® Jukebox, StuffIt and Active Disk Powered Windows® XP Moving Tool.

Availability
The Iomega Mini 128MB USB 2.0 Drive is now shipping and is available for $69.95; the Iomega Mini 256 MB USB 2.0 Drive is now shipping and is priced at $109.95. The Iomega Mini 512 MB USB 2.0 Drive will be available in mid-February for $199.95. All prices are U.S. estimated 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 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 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, 2002, and its most recent Quarterly Report on Form 10-Q.

*Source: Web-Feet Research, Boston Group

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.