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New GigaBank(TM) Elite 40 has up to 40GB of Storage Space and a Single-Touch Data Back-up Function

I/OMagic Corporation (OTCBB:IOMG), a provider of data storage and digital entertainment products, announced today the latest addition to its line of portable storage devices, the new GigaBank(TM) Elite 40. The GigaBank(TM) Elite 40 features up to 40 GB(a) of storage capacity within a 1.8" IDE hard disk drive (HDD). Highlights include its single-touch data back-up function, the fact that it requires no batteries, adapters or installation software, and that it is compact enough to fit in your pocket.

"The GigaBank(TM) Elite 40 is perfect for the mobile professional. With a single-touch users can easily back-up a computer, store important files, save and transport digital photos and MP3s or transfer files from one computer to another," said Tony Andrews, Vice President of Engineering and Product Development for I/OMagic Corporation.

The I/OMagic GigaBank(TM) Elite 40 is powered through the use of a built-in USB 2.0 connector (it is also USB 1.1 backwards compatible), which can be stored in the drive enclosure when it is not in use. It also comes with a simulated leather and chrome case, and is hot swappable (a device that can be plugged/unplugged into a computer while the computer is on). The GigaBank(TM) Elite 40 supports Windows XP/2000/ME/98SE.

I/OMagic anticipates shipping its new GigaBank(TM) Elite 40 to Office Depot stores in January 2005 with an introductory suggested retail price of $229.99.

I/OMagic also offers the GigaBank(TM) 2.2, currently available at Circuit City and Staples stores, and the GigaBank(TM) 4.0 available at Circuit City, Staples, and Office Depot stores.

(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.