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I/OMagic Announces New GigaBank Elite 60GB; New 60GB USB 2.0 Portable Storage Device Features a 1.8-Inch Hard Disk Drive and Simple Single-Touch Data Back-Up

Posted on: Monday, 7 March 2005, 15:00 CST

I/OMagic Corp. (OTCBB:IOMG), a provider of data storage and digital entertainment products, announced today the release of its new GigaBank(TM) Elite 60GB(a), the latest addition to its line of GigaBank(TM) Elite portable storage devices. Features include up to 60GB(a) of storage capacity within a 1.8-inch hard disk drive (HDD) and a single-touch data back-up function.

"With a single touch of a button, users can easily save and transport digital photos and MP3s, back-up a computer or transfer files from one computer to another, as well as store important system files," said Tony Andrews, vice president of engineering and product development for I/OMagic Corp.

The GigaBank(TM) Elite 60GB is ultra lightweight, requires no batteries and is powered through a USB 2.0 port (it is also USB 1.1 backwards compatible) which when it's not in use, can be conveniently tucked into its enclosure.

It also comes with a simulated leather and chrome case, and is hot swappable (a device that can be plugged/unplugged into a computer while the computer is on). The GigaBank(TM) Elite 60GB supports Windows XP/2000/ME/98SE.

I/OMagic anticipates shipping its new GigaBank(TM) Elite 60GB in April 2005.

(a) Note: 1 MB = 1 million bytes, 1 GB = 1 billion bytes.

A user's total accessible memory/storage/data capacity will be less than stated as a result of the user's operating system and other factors.

About I/OMagic

I/OMagic provides data storage products (such as CD-RW drives, DVD+/-RW and floppy drives, including its MediaStation and DataStation products) and digital entertainment products (such as MP3 players, digital audio headphones and its Digital Photo Library(TM) system, which is a palm-sized portable external hard drive for digital music, photo and movie storage, as well as a line of EasyPrint(TM) digital photo accessories). The company sells products under three brand names -- I/OMagic(R), Hi-Val(R) and Digital Research Technologies(R) -- through nationally recognized computer, consumer electronics and office supply superstores and other retailers, such as Best Buy, Circuit City, CompUSA, Fred Meyer Stores, Microcenter, Office Depot, RadioShack, Staples and Target stores, as well as catalogue companies and Internet retailers such as Buy.com, PC Mall, Tiger Direct and Dell.

Forward-looking statements in this release with respect to the anticipated shipment date of the company's new GigaBank(TM) Elite 60GB device as well as product performance and consumer reactions to this product are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties including, but not limited to, the company's dependence on the PC and consumer electronics industries and on product lines based on new technologies; the company's ability to develop new products based on new or evolving technology and the market's acceptance of those products; manufacturing capacity, availability and reliability; competition and pricing pressures in the technology industry; general economic and business conditions; and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.

Source: Business Wire

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