PRESS RELEASES

Iron Mountain Enhances Verification Options Increasing Intellectual Property Management Effectiveness

White Paper Published on Verification Best Practices for Technology Escrow

November 14, 2005

Boston, MA - Iron Mountain Incorporated (NYSE:IRM) today announced that its Intellectual Property Management business unit has enhanced its verification service offerings to strengthen the value of technology escrow. Technology escrow is fast becoming a key component of corporate risk management and business continuity strategies. However, the value of an escrow arrangement is heavily dependent on the quality of the escrow deposit materials. Iron Mountain’s verification services ensure that the technology and supporting materials deposited into escrow are complete and functional. Aligning verification services alongside an escrow arrangement provides a complete intellectual property protection and management solution by reducing potential risk associated with licensing mission critical technology.

Companies that license software can work with Iron Mountain to determine the best level of verification for their escrow arrangement, based on how critical the software is to their business operations. A thorough verification of the materials provides assurance that, in the event of a deposit release, a licensee would be able to more quickly and effectively read, recreate and maintain the licensor’s technology in-house. Without verification, there is a risk that the materials in escrow will be incomplete, corrupt or unable to be successfully put into production at the time of release. Verification helps ensure that these issues can be resolved upfront, when timing is less critical and the software developer is still available to lend assistance.

As part of a comprehensive business continuity strategy, Trans World Entertainment worked with Iron Mountain to verify source code from a software developer partner used in creating its proprietary listening-viewing station (LVS).Trans World’s Director of IT, Roy Simmons, stated, “Trans World invested a considerable amount of effort and funds into the LVS; the cost of escrow and verification was insignificant in comparison. Iron Mountain was very helpful through the entire verification process. They worked with the software vendor and made sure everything was in order and that the LVS application could be recreated. I would definitely use technology escrow and verification services from Iron Mountain again.”

The results from a survey of Iron Mountain escrow customers emphasize the importance of an escrow agreement delivering useable source code in a release situation. A full 80% of respondents indicated that the short-term effect of not being able to access and compile their source code would be disastrous, using words like “deadly” and “crippling.” According to Gartner, Inc., a research and advisory firm, “If you don’t plan to do regular audits, or verification that the version of the software you are using is in escrow, the agreement may be worthless.”¹

Iron Mountain offers a variety of technical verification options ranging from ensuring media readability and file classification to full functionality testing to ensure that the built applications work properly when installed. This repositioning comes as a result of extensive market research with both current customers and users of technology escrow worldwide. Iron Mountain’s new verification options are designed to better meet customer expectations and the needs of the market.

Director of Product Management Jennifer Brock explains, “Just as lenders examine collateral when they agree to make a loan, the best practice in technology escrow is to verify and test the deposit materials.Iron Mountain’s improved verification services are now easier to understand, and we encourage customers to strongly consider verification whenever they enter into an escrow arrangement.”

Iron Mountain’s verification services are available immediately and are priced by level of verification starting at $2,500. A white paper has been written by Iron Mountain to educate the market on verification services.To download this white paper for free, please visit http://www.ironmountain-ipm.com/Resources_White_Papers.asp.

¹Source:Disbrow, J. and Park, A., “Be Aware of Contract Issues When Negotiating Software Escrows,” Gartner, Inc. Research Note, G00125669, February 7, 2005.

About Iron Mountain’s Intellectual Property Management Services
Iron Mountain is the leading global service provider of intellectual property management services specializing in technology escrow and domain name records management. As the founder of the industry, Iron Mountain has the integrity, reputation, resources, and experience to ensure intellectual property is properly managed and protected. Iron Mountain's Intellectual Property Management services set the industry standard by providing quality customer service and unmatched solutions to three-fourths of the Fortune 500. For more information, about Iron Mountain’s Intellectual Property Management services, please visit www.ironmountain.com/ipm.

About Iron Mountain
Iron Mountain Incorporated (NYSE:IRM) helps organizations around the world reduce the costs and risks associated with information protection and storage. The Company offers comprehensive records management and data protection solutions, along with the expertise and experience to address complex information challenges such as rising storage costs, litigation, regulatory compliance and disaster recovery. Founded in 1951, Iron Mountain is a trusted partner to more than 90,000 corporate clients throughout North America, Europe, Latin America and the Pacific Rim. For more information, visit the Company's Web site at at www.ironmountain.com.