Iron Mountain Arms Compliance Officers with E-Mail Supervision and Support for Litigation Discovery and Regulatory Investigations

Expanded Digital Archives Service Offers Complete Regulatory Compliance for Broker-Dealers; Reduces Pain of Information Discovery

June 17, 2003

Boston, MA and New York (SIA - Booth 3302) - Iron Mountain Incorporated (NYSE:IRM) today announced the expansion of its Digital Archives service to support compliance officers, who are tasked with meeting stringent industry regulations and responding to urgent litigation discovery and regulatory investigations. Enhancements to the Company’s electronic records management service include a regulatory compliant Supervision service for e-mail and Instant Messages, and new Discovery Folders functionality to aid arduous litigation discovery and regulatory investigations.

“In today’s regulatory and litigious business environment, it’s hard to envy the job of a compliance officer. Our goal is to help make their jobs less painful,” said Peter Delle Donne, president of Iron Mountain’s Enterprise Solutions and Services division.“Iron Mountain’s Digital Archives service provides compliance officers a single workspace to address archiving, supervision and regulatory investigations in an automated, systematic way.”

Iron Mountain’s New Supervision Service:
Monitoring of e-mail and Instant Messaging (IM) communications is a requirement of securities firms subject to NASD Rule 3010 and NYSE Rule 342.These NASD and NYSE regulations stipulate that securities firms must establish procedures to monitor electronic communications, and keep auditable records of supervisory reviews.Iron Mountain’s new Supervision service provides an outsourced solution to quickly, seamlessly and cost effectively meet these compliance requirements.

In addition, the Supervision service for electronic communication will help corporate compliance officers manage risks and reduce liability.Leveraging the core infrastructure of Iron Mountain’s Digital Archiving solution, the Supervision service enables companies to set extensive review policies dependent on needs and regulations. The service allows compliance officers to set pre-determined policy parameters including random sampling, lexicon sampling and escalation logic to monitor specific groups or individual e-mails and Instant Messages more closely.

Communications that have been flagged according to the pre-set rules are accessible via a secure Web-based supervision interface that allows reviewers to read and take action.A detailed audit trail is also implemented for every communication at question to document all actions taken against the message, as required by NASD and NYSE regulations.

“The supervision requirements for securities firms may be fundamentally necessary, but not necessarily easy to comply with,” said Charles Bennett, vice president of compliance and market conduct for Hornor, Townsend, & Kent, a full-service, independent broker/dealer headquartered in Horsham, PA. “Iron Mountain’s outsourced Digital Archive service made it very easy for us to get compliant with retention requirements of the SEC; the new Supervision service will make communications monitoring so much easier for us.”

With the addition of the new Supervision service, Iron Mountain’s Digital Archives provides a total compliance solution, delivering assured e-mail and Instant Messaging records retention compliance for SEC Rule 17a-4, NASD Rule 3110, NYSE Rule 440 and CFTC Rule 1.31.

Iron Mountain’s Digital Archives offers SEC-compliant universal electronic records archiving and indexing across all assets: e-mail, IM, statements, images, etc., as well as providing its Third-Party Downloader services mandated by the SEC.The addition of supervision capabilities offers securities firms the only full service electronic communications compliance solution providing archiving, Third-party Downloader and Supervision services.

Discovery Folders for Litigation and Investigations:
The new Discovery Folders help compliance officers save time and resources required for investigations by providing a better way to sort, manage and analyze the discovery information. The folders allow compliance officers to perform searches within Iron Mountain’s Digital Archive and organize result sets into relevant folders for future reference. Folders can be easily created, updated and exported to case management software for regulatory investigations or litigation discovery.The folders support any type of information stored in the archive, including e-mails, Instant Messages, digital images, and computer output.

Contact:

Melissa Mahoney
Corporate Communications
Iron Mountain
Phone: 617-535-8310
melissa.mahoney@ironmountain.com

Ray Yeung
Brainerd Communicators
Phone: 212-739-6735
yeung@braincomm.com