Iron Mountain Incorporated Announces Proposed $150 Million Debt Offering

June 16, 2003

Boston, MA - Iron Mountain Incorporated (NYSE: IRM), the leader in records and information management services, announced today a proposed public offering of $150 million in aggregate principal amount of Senior Subordinated Notes due 2016. The Company intends to use the net proceeds from the offering to redeem all or a portion of the outstanding 8-1/8% Senior Notes due 2008 of its subsidiary, Iron Mountain Canada Corporation, which the Company has guaranteed on a senior subordinated basis, and for general corporate purposes, including the possible repayment of other indebtedness and possible future acquisitions and investments. The exact terms and timing of the offering will depend upon market conditions and other factors.

The offering will be made only by means of a prospectus. This announcement shall not constitute an offer to sell or the solicitation of any offer to buy securities, nor shall there be any sales of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

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