TORONTO, ON and ROY, Utah--May 16, 2001-MGI (TSE:MGI) and Iomega Corporation (NYSE: IOM) today announced an agreement to bundle MGI's award-winning PhotoSuite and VideoWave products with Iomega's new high-capacity 10GB and 20GB Peerless drive system. "Iomega's Peerless drive raises the bar for removable storage and will be a boon to those who create and exchange photo and video files created with MGI PhotoSuite and VideoWave," said Ihor Petelycky, chief product strategist, MGI. An Iomega edition of MGI PhotoSuite software will be included with Peerless drives. PhotoSuite provides image editing and photo project capabilities designed to make Web and PC photography easy. An Iomega edition of MGI VideoWave will also be included with Peerless drives, allowing even novice users to combine video clips, animation, graphics, photos and audio into professionalá?quality business presentations, Web content, home movies, training materials and more. "With our partners' software and Iomega's new Peerless drive system, users will enjoy the freedom to simply and flexibly manage massive files on a disk that slips into a shirt pocket," said Doug Collier, senior vice president, marketing and product management, Iomega Corporation. "We're pleased to offer this added value to our customers and give them this tremendous functionality right out of the box." Peerless disks slip into a base station only slightly larger than the disk itself-a slim, vertical enclosure about four inches across and five inches tall. The Peerless drive system's modular design, high capacity and hard-drive performance open up an entirely new class of devices. With FireWire transfer rates of up to an expected 15 MB/sec, the Peerless drive system is an affordable, high performance hardware solution. Iomega Peerless drives can be pre-ordered today at http://www.iomega.com.