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

New Iomega REV™ Drive Wins Best of Show Award at CeBIT America

SAN DIEGO, May 27, 2004 - Iomega Corporation (NYSE: IOM), a global leader in data storage, today announced that the new Iomega® REV™ 35GB/90GB* drive has been honored with a prestigious “Best of CeBIT America” award at this year’s annual tradeshow.

Iomega’s new REV drive, which offers the removeability of tape with the speed and ease of use of a hard drive, was awarded the top prize in the personal hardware category at the CeBIT America technology trade show at the Jacob K. Javits Center in New York. The Best of CeBIT America award is sponsored by eWeek Magazine and PC Magazine.

“We’re honored to receive this award and pleased with the tremendous level of attention that the Iomega REV drive has received in its first month of availability,” said Susan Huberman, vice president, corporate and emerging technology marketing, Iomega Corporation. “The Iomega REV drive is a great backup storage solution for small and medium-sized business users and others who need high capacity, fast, and easy-to-use removable storage.”

The Iomega REV drive transfers data up to eight times faster than tape, and the REV disks are smaller than a deck of playing cards (10 x 77 x 75 mm) and can be rewritten more than a million times (estimated). With a maximum sustained transfer rate of 25MB/sec, and using drag and drop random access technology, REV drive users can copy and restore individual files in seconds.

Included with the Iomega REV drive is Iomega Automatic Backup Pro software, which provides frequent file-level backup to a REV drive. Once configured, the “no-touch” software automatically backs up specified files (including multiple revisions); keeps multiple backup sets on different destination drives; excludes user-selected files by file type, and performs scheduled backups. Powerful professional-level features include 2.6:1 compression and AES (Advanced Encryption Standard) file encryption, along with support for Windows® server operating systems.

Symantec’s Norton Ghost for REV™ Drive software is also included for full-system disaster recovery, letting users capture an exact image of the computer’s main hard drive partition, including all data files, system files, settings and installed software. If disaster strikes, the disk image can be easily copied back to the replacement drive from the REV disk.

Leading backup software companies, including CommVault Systems, Computer Associates, Dantz, Symantec, VERITAS, and Yosemite Technologies, have confirmed compatibility between their products and the new Iomega® REV drive. These companies represent the majority of the backup installations in small and medium-sized businesses today.

Availability
The Iomega REV drive is now shipping in USB 2.0 external ($399.99 with one disk included) and ATAPI internal ($379.99 with one disk included) configurations. REV disks are available individually ($59.99) or in a four-pack ($199.95); all prices are U.S. suggested retail. FireWire®, SCSI and SATA models are also planned for introduction in the second half of this year. More information on Iomega REV products is available at www.iomega.com.

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 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.

*Compressed capacity assuming 2.6:1 data compression with “high” compression on Iomega Automatic Backup Pro software. Capacity may vary and is data and software dependent. 1 GB = 1,000,000,000 bytes

NOTE: The statements contained in this release regarding development, production and distribution of the new Iomega® REV Drive , anticipated product pricing, availability, and shipping dates, 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, any losses of key employees, 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.

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.