Business News

EMC Extends Tender Offer to Acquire Iomega Corporation

Monday 26. May 2008 - EMC Corporation (NYSE:EMC), the world leader in information infrastructure solutions, today announced that it has extended the expiration date for its cash tender offer for all outstanding shares of common stock of Iomega Corporation (NYSE:IOM) until 5:00 p.m. Eastern Daylight Time (EDT) on Friday, May 30, 2008.

As a result, stockholders of Iomega may tender their shares of Iomega common stock until 5:00 p.m. EDT on Friday, May 30, 2008. The extension was made to allow the European Commission the time required to complete its review process, which is a condition to the completion of the tender offer.

As previously announced, EMC, through Emerge Merger Corporation (a wholly owned subsidiary of EMC formed for the purpose of making the offer), commenced a cash tender offer on April 24, 2008 for all of the outstanding shares of common stock of Iomega at a price of $3.85 per share in cash, without interest, pursuant to an Agreement and Plan of Merger among EMC, Emerge Merger Corporation and Iomega.

As of the close of business on May 21, 2008, a total of 42,797,977 shares of common stock of Iomega had been validly tendered and not withdrawn, representing approximately 78 percent of the outstanding shares of common stock of Iomega.