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I/OMagic Set to Ship New GigaBank 6.0; The Company Expands Its Portable Storage Device Line-Up With New, Mini 6GB Unit

Posted on: Thursday, 7 April 2005, 09:00 CDT

I/OMagic Corporation (OTCBB:IOMG), a provider of data storage and digital entertainment products, today announced that it will soon ship the latest in its Portable Storage Device line-up, the GigaBank(TM) 6.0. The GigaBank(TM) 6.0 has up to 6 GB(a) of storage capacity in a mini (2"x0.5"x2.5") and lightweight (less than two ounces) unit designed to store or back-up files, store MP3s or transfer files from one computer to another.

"The GigaBank(TM) 6.0 is perfect for anyone on the go," said Tony Andrews, Vice President of Engineering and Product Development for I/OMagic Corporation. "It is pocket size so you can take important files with you anywhere. You'll never have to be without the information you need with the GigaBank(TM) 6.0."

The GigaBank(TM) 6.0 is powered through a USB 2.0 port (which is also USB 1.1 backwards compatible) which, when not in use, can be conveniently tucked into its enclosure. It comes with a carrying case, an extension cable for hard to reach USB ports and it requires no battery or power adapter.

The GigaBank(TM) 6.0 is hot swappable (a device that can be plugged/unplugged into a computer while the computer is on) and it supports Windows XP/2000/ME/98SE.

I/OMagic anticipates shipping its new GigaBank(TM) 6.0 in May 2005 with an introductory suggested retail price of $199. The Company also currently offers GigaBank(TM) products in 2.2GB, 4.0GB, 20GB, 40GB, 60GB, 80GB and 100GB options.

(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, floppy drives and USB portable storage devices, including its MediaStation, DataStation and GigaBank(TM) 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 and price of the Company's new GigaBank(TM) 6.0 GB 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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