Iron Mountain Adopts Stockholder Rights Plan

Iron Mountain Incorporated IRM today announced that its Board of Directors has adopted a Stockholder Rights Plan and declared a dividend of one right on each outstanding share of the Company's common stock. Under the terms of the Rights Plan, rights to purchase one one-thousandth (1/1000) of a share of new Series A Junior Participating Preferred Stock of the Company (the “Rights”) at a price of $0.12 per one one-thousandth (1/1000) of a share will be issued at the rate of one right for each outstanding share of the Company's common stock held of record on April 1, 2011. Under the terms of the Rights Plan, the Rights will initially trade together with the Company's common stock and will not be exercisable. In the absence of further action by the Company's Board of Directors, the Rights will generally become exercisable if a person or group acquires, or commences a tender or exchange offer, the consummation of which would result in such person or group acquiring, beneficial ownership of 15% or more of Iron Mountain's outstanding common stock. Rights held by the person or group triggering the rights will become void and will not be exercisable.