Elliott Management Comments on Iron Mountain's Reaction to Davis Advisors' Support and Decision to Adopt ‘Poison Pill'

Elliott Management Corporation, on behalf of the funds that it manages, the beneficial owners of slightly under 5% of Iron Mountain Incorporated's common stock IRM today released the following statement: “We are extremely disappointed by Iron Mountain's reaction to Davis Advisors' public support for the four independent nominees put forward by Elliott. We believe it is a disturbing development when a company facing no apparent takeover threat responds to a call for change from its largest shareholder by adopting a Poison Pill. Institutional Shareholder Services and other leading governance advisory firms have repeatedly expressed their concerns about Poison Pills given the significant risk and long history of managements using them to entrench themselves at the expense of shareholders.” Iron Mountain's management today announced that its Board of Directors has adopted a Stockholder Rights Plan, often referred to as a ‘Poison Pill,' and declared a dividend of one right on each outstanding share of the Company's common stock.