News Release December 15, 2006

Iron Mountain expands in Asia Pacific with Transnational Company joint venture
~ Iron Mountain enters six additional countries, bringing global footprint to 33 countries across five continents ~

Iron Mountain Incorporated (NYSE:IRM), the global leader in information protection and storage services, has signed a definitive agreement with Transnational Company Pte. Ltd. to create a joint venture that will expand Iron Mountain's presence in the Asia Pacific region.

The Company will have controlling interest in the joint venture, whose services will be branded Iron Mountain. Terms of the deal were not disclosed. The expansion brings Iron Mountain's operational footprint to six more countries, for a total of 33 across five continents.

Iron Mountain entered the Asia Pacific region for the first time in December of 2005 through the acquisition of the Australian and New Zealand operations of Pickfords Records Management. In May 2006, Iron Mountain entered India when it formed a joint venture with Mody Access. And in June 2006, Iron Mountain expanded its presence in Australia and New Zealand with the acquisition of Melbourne-based DigiGuard.

"By broadening Iron Mountain's global presence, we can better support our largest customers wherever they do business," said Bob Miller, group president, Asia Pacific for Iron Mountain. "We've had a growing demand from our customers for products and services in Asia Pacific and we are pleased to partner with Transnational Company to expand our business in this very important region."

Established in 1978, Transnational Company Pte. Ltd. is headquartered in Singapore and is a provider of information protection and storage services in Singapore, Hong Kong-SAR, China, Indonesia, Sri Lanka, Taiwan, and Malaysia. Daron K W Liew, Chairman and CEO of Transnational Company, will head the new Iron Mountain joint venture to lead the expansion efforts in Southeast Asia and will work directly with Miller.

"Iron Mountain is the global leader in storing and protecting information and we are excited about our joint venture," said Liew. "By bringing together our companies and combining our strengths, Transnational Company's existing customers will gain access to an expanded portfolio of solutions and Iron Mountain will benefit from our knowledge and established presence in these regions."