FOR IMMEDIATE RELEASE:

Contact: John F. Kenny, Jr.
         Executive Vice President and
         Chief Financial Officer
         (617) 535-4799

                 IRON MOUNTAIN INCORPORATED PRICES DEBT OFFERING

BOSTON, MA--September 6, 2001--Iron Mountain Incorporated (NYSE: IRM), the
leader in records and information management services, announced today that it
has priced an underwritten public offering of an additional $210 million in
aggregate principal amount of its 8-5/8% Senior Subordinated Notes due 2013. The
additional notes will be sold at 101.50% of par, which implies an effective
yield to worst of 8.35%, or a total purchase price of $1,015, plus accrued
interest from April 3, 2001, per $1,000 principal amount of additional notes.
The net proceeds to the Company are expected to be $208.9 million, after paying
the underwriters' discounts and commissions and estimated expenses, and will be
used to fund the Company's offer to purchase and consent solicitation relating
to its outstanding 10-1/8% Senior Subordinated Notes due 2006, or to otherwise
redeem the 10-1/8% notes, to repay outstanding borrowings under the Company's
revolving credit facility and for general corporate purposes, including future
acquisitions. The closing of the offering is expected to occur on September 18,
2001 and is subject to customary closing conditions.

The Company is establishing a special record date of September 18, 2001 for the
additional notes, as well as the notes previously issued in April 2001, solely
with respect to the October 1, 2001 interest payment. The Company reserves the
right to change such record date if the closing of the offering does not occur
on the expected date.

Bear, Stearns & Co. Inc., Goldman, Sachs & Co. and Merrill Lynch, Pierce, Fenner
& Smith Incorporated are the joint book-running managers and William Blair &
Company, L.L.C., First Union Securities, Inc. and JPMorgan Securities Inc. are
the co-managers of the offering.

The offering is being made by Iron Mountain Incorporated by means of a shelf
registration statement previously declared effective by the Securities and
Exchange Commission. Copies of the final Prospectus Supplement and Prospectus
for the offering may be obtained from the underwriters.

This announcement shall not constitute an offer to sell or the solicitation of
any offer to buy securities, nor shall there be any sale of these securities in
any state in which such an offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state.

Iron Mountain Incorporated is the global leader in records and information
management services. Iron Mountain currently provides services to over 125,000
customer accounts, including more than half of the Fortune 500, in 77 markets in
the United States and 44 markets outside of the United States. The Company
operates over 625 records management facilities in North America, Europe and
Latin America.

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