Iron Mountain Incorporated Prices Debt Offering

Iron Mountain Incorporated (NYSE: IRM) announced today that it has priced a public offering of $1.0 billion in aggregate principal amount of its 5-3/4% Senior Subordinated Notes due 2024. The notes will be sold at par. The Company intends to use the net proceeds from the offering for the redemption of all of its outstanding 6-5/8% Senior Subordinated Notes due 2016 and 8-3/4% Senior Subordinated Notes due 2018, to repay existing indebtedness under its revolving credit facility and for general corporate purposes, including funding a portion of the costs it expects to incur in connection with its proposed conversion to a real estate investment trust. The closing of the offering is expected to occur on August 10, 2012 and is subject to customary closing conditions.

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, BofA Merrill Lynch, HSBC Securities (USA) Inc., RBS Securities Inc., Scotia Capital (USA) Inc. and Barclays Capital Inc. are joint book-running managers for the offering.

Iron Mountain Incorporated is making the offering under an effective shelf registration statement. This offering is being made solely by means of a prospectus supplement and related base prospectus, copies of which may be obtained on the SEC Web site at www.sec.gov. Alternatively, the underwriters will arrange to send you the prospectus supplement and related base prospectus if you request them by contacting 866-718-1649.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This announcement does not constitute a notice of redemption of the 6-5/8% notes or the 8-3/4% notes referred to above.

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