NEW YORK, June 27, 2000 (PRIMEZONE) -- Iomega Corporation (NYSE:IOM), a global leader in data management solutions, today announced its first branded MP3 digital audio player, a full featured, palm-sized device with universal music file format support, which will be delivered this fall. The Iomega digital audio player, which integrates Iomega's high capacity removable storage technology, will provide consumers with music storage at a price that allows users to affordably collect, transport and share their digital music. Iomega has partnered with Interactive Objects Inc. (iObjects) (OTCBB:OBJX), a recognized leader in digital audio software, to develop the Iomega digital audio player's version of iObjects Dadio(TM) operating system.
"The Iomega digital audio player will utilize low-cost Clik! media to store digital audio, and at about $10 for each 40MB Clik! disk, which is roughly 40 minutes or 12 near CD-quality songs, Clik! technology brings new benefits to the digital audio player market," said Bruce Albertson, president and CEO, Iomega Corporation. "Consumers will now be able to affordably collect and organize music playlists on round two-inch Clik! disks, making it fast and easy to take your favorite tunes with you on the go. Changing music is as simple as inserting a new disk - no more trips back to a computer for time-consuming digital downloads."
The Dadio(TM) operating system provides sophisticated file and memory management functionality and supports multi-threaded operations, needed for the dynamic loading of music encoded in various formats. It also enables features such as downloading music or managing play lists while listening to music and a high quality equalizer control system that enhances audio quality.
"We're thrilled to be working so closely with Iomega on combining the benefits of Dadio software and Clik! removable storage," said Steve Wollach, CEO, iObjects. "This partnership brings customers a winning combination by offering overall advancements in the feature set, performance and huge reductions in the cost of removable memory. We strongly believe this new product will catapult the portable media player market to the next level."
In addition to providing consumers with low cost removable storage, the Iomega digital audio player will offer the "next generation" features most often requested by digital music enthusiasts. The Iomega player will automatically recognize and play today's most popular digital music file formats and will support both free and copyright protected content, giving users the broadest possible access to a widening variety of Internet music offerings. The product also features simple, intuitive controls, a customizable equalizer, drag and drop file transfer capability, fast USB connectivity, and a menu-driven, backlit display all designed in a compact, palm-sized enclosure.
Today's prices for seven and one-half 32MB cards of flash-based memory force users to pay approximately $750 (U.S.) for four hours of near CD-quality music. That same collection of music can be stored on Clik!(TM) disks for under $60 (U.S.). Competing flash memory expansion cards cost consumers about $100 for one 32MB card, while Clik!(TM)-based portable digital media players use inexpensive 40MB Clik! disks for an estimated street price of $9.99 (U.S.) each, when purchased in a 10-pack.
Iomega has already announced partnerships with several MP3 development companies that will utilize the Clik!(TM) platform in future digital audio players. As this Clik! digital audio movement continues to grow, Iomega anticipates multiple digital audio players integrating the Clik! platform by the end of the year.
The Iomega digital audio player will be competitively priced with other flash-based portable digital audio players and is expected to be available through retail, catalog, reseller and www.iomegadirect.com distribution channels.
About Interactive Objects Inc.
Interactive Objects' Digital Appliance Group is a leading developer of audio solutions for portable digital appliances and the creator of Dadio(TM), the universal software for digital audio players. iObjects provides custom software engineering, industrial design and manufacturing services, and offers licenses of its proprietary Dadio(TM) digital audio software to leading consumer electronics, digital media, and computer software companies. iObjects' Business Objects Group provides web application and development services to leading portal and eCommerce web sites. Interactive Objects is headquartered at 12600 SE 38th, Suite 150, Bellevue, WA 98006,USA. Interactive Objects is listed on the OTC.BB under the symbol "OBJX" and on the "Third Segment" of the Frankfurt Stock Exchange under the symbol "IOX" and German securities code WKN: 913011. The Company can be reached on the web at http://www.iobjects.com.
About Iomega
Iomega Corporation (NYSE:IOM) manufactures and markets the award-winning Zip(R), Jaz(R) and Clik!(TM) drives and disks and markets the ZipCD(TM) CD-RW drives and discs. Iomega's products help people to save, share, manage and create important information such as spreadsheets, slides, Internet downloads, audio files and personal photographs, while helping protect that content from viruses and hackers. Used in homes, businesses, government and educational facilities and by creative professionals everywhere, Iomega storage solutions are the enabling technologies preferred by millions. The Company can be reached at 1-800-MY-STUFF (800-697-8833), or on the Web at www.iomega.com.
Special note: Statements contained in this release relating to Iomega's plans to build and ship an Iomega-branded MP3 player and Iomega's agreement with Interactive Objects to develop the Iomega digital audio player's version of iObjects Dadio operating system (Iomega's agreement with iObjects) and the expected availability and functionality of the Iomega-branded MP3 player are forward-looking statements. There are a number of important factors that could cause actual events to differ materially from those indicated by such forward-looking statements, including market acceptance of, and demand for, the Iomega-branded MP3 player and Iomega's agreement with iObjects, manufacturing issues, product pricing and conformity to specifications, competition, intellectual property rights and other risks as identified in Iomega's Annual Report to Stockholders for 1999 on Form 10-K, and its most recent quarterly reports filed with the SEC.
Copyright (C) 2000 Iomega Corporation. Iomega, Zip, Jaz, Clik! and ZipCD 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.
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CONTACT: Chris Romoser
Iomega Corporation
801-332-3678
romoser@iomega.com
Jennifer Miconi
Iomega Corporation
801-332-5255
miconi@iomega.com
Sandra Payne
iObjects
206-726-0806
sandrap@iobjects.com
James Recob
Iomega Corporation
801-332-4430
recob@iomega.com