Iron Mountain Announces $850 Million Increase to Share Repurchase Authorization and $250 Million of Prepaid Variable Share Repurchases (IRM)

Iron Mountain Incorporated IRM, the information management company, today announced that its Board of Directors approved an increase in the amount authorized under the Company's existing share repurchase program of up to an additional $850 million in repurchases of its common stock. The Company also announced that it has entered into prepaid variable share repurchase agreements with affiliates of each of J.P. Morgan Securities LLC and Morgan Stanley & Co. Incorporated to repurchase an aggregate of $250 million of Iron Mountain common stock. With this new authorization and the $228 million remaining under its existing repurchase authorization as of March 31, 2011, the Company's repurchase program now totals approximately $1.1 billion, including the $250 million prepaid variable repurchases.