Iron Mountain Expands to India with Mody Access Info Joint Venture

BOSTON and MUMBAI, India, May 17, 2006 – Iron Mountain Incorporated (NYSE: IRM - News ), the global leader in information protection and storage services, joined forces today with Mody Access Info Pvt. Ltd. and its associate, Indexinfo Services Pvt. Ltd., to establish Iron Mountain's presence in India. The two Indian entities will merge, with Iron Mountain acquiring a 50.1 percent equity interest in the combined entity. The joint venture will be branded Iron Mountain India and the expansion brings Iron Mountain's operational footprint to 27 countries across five continents.

Established in 1999, Mody Access Info Pvt. Ltd. is a leading provider of Records Storage and Information Management services in Mumbai, Bangalore, Delhi and Pune. Its client base includes businesses in the industries of banking & finance, insurance, fast moving consumer goods, legal, medical, telecom, energy, media and advertising, hospitality and shipping. The company has planned geographic expansion in Kolkata, Chennai and Hyderabad.

"We continue to expand our global footprint for one great reason: to support our largest customers wherever they do business," said Bob Miller, executive vice president, Iron Mountain. "We have significant Iron Mountain customer demand for services in India and we've found an excellent partner in Mody. They've built a very solid business here and we're very pleased to be teaming with them to extend our presence to this very important market."

"Iron Mountain has created the premier brand for protecting and storing information around the globe and we are excited to help bring the Company's world-class solutions to India," said Neville Mody, Managing Director, Mody Access. "By bringing our teams together and combining our strengths, Mody's existing customers will gain access to an expanded portfolio of solutions through our existing management team and employees." ICICI Securities Limited acted as the sole financial advisor to Iron Mountain on the transaction.

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 www.ironmountain.com.