I/OMagic GigaBank Premier 80 Announced is announced. The I/OMagic GigaBank Premier 80 is a portable storage device featuring an 80Gb hard-drive and USB 2.0 connectivity. The I/OMagic GigaBank Premier 80 has a suggested retail price of $199.99.

I/OMagic Press Release

New GigaBank Premier 80 Joins I/OMagic’s Portable Storage Device Line-Up; Pocket-Sized External 2.5’’ Hard Disk Drive Let’s You Take All of Your Data with You

IRVINE, Calif.—(BUSINESS WIRE)—May 24, 2005—I/OMagic Corporation (OTCBB:IOMG), a leading provider of data storage products, announced today the release of its GigaBank(TM) Premier 80, the latest addition to its line of portable storage devices. Featuring up to 80GB(a) of storage capacity, the GigaBank(TM) Premier 80 is a 2.5” IDE hard disk drive (HDD) highlighted with a single-touch data back-up function.

“At the touch of a button on the unit, users can copy files to the GigaBank(TM) Premier 80,” said Tony Shahbaz, President and CEO of I/OMagic Corporation. “It’s ideal for transferring files from one computer to another, storing digital photos and MP3 files, backing up your computer and storing all of your important files.”

The GigaBank(TM) Premier 80 is powered through a USB 2.0 port (which is also USB 1.1 backwards compatible) and requires no batteries. It comes trimmed in a black and silver case and when the USB connection is not in use, it can be conveniently tucked into its enclosure.

The GigaBank(TM) Premier 80 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 recently began shipping its new GigaBank(TM) Premier 80 with an introductory suggested retail price of $199.99.

Also included in the I/OMagic line-up of Portable Storage Devices are the GigaBank(TM) 2.2, the GigaBank(TM) 4.0, and the GigaBank(TM) Elite 40.

(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 is a leading provider of data storage products (such as CD-RW drives, DVD+/-RW, USB Portable Storage Devices and floppy drives, including its MediaStation and DataStation products). 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 and sale date and price of the Company’s new GigaBank(TM) Premier 80 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.