NVE Awarded Additional DoD Bio-Detection Funding

    EDEN PRAIRIE, Minn., Dec. 13 /PRNewswire-FirstCall/ -- NVE Corporation
 (Nasdaq:   NVEC) announced today that it has been awarded additional Bio-
 Magnetic Interfacing Concepts (BioMagnetICs) program funding by the Defense
 Sciences Office of the Defense Advanced Research Projects Agency. The award
 brings NVE's cumulative funding under its BioMagnetICs contract, which was
 first announced in 2002, to nearly $2 million.
     Expected Department of Defense payoff areas for the BioMagnetICs program
 include rapid, robust, hand-held bio-detection devices with multi-analyte
 capability and high sensitivity. The new funding is for NVE to optimize
 spintronic system components and develop high-volume fabrication processes.
     NVE is a leader in the practical commercialization of spintronics, a
 nanotechnology that many experts believe represents the next generation of
 microelectronics. NVE licenses its MRAM intellectual property and sells
 spintronic products, including sensors and couplers, to revolutionize data
 sensing and transmission.
     Statements used in this press release that relate to future plans, events,
 financial results or performance are forward-looking statements that are
 subject to certain risks and uncertainties including, among others, such
 factors as uncertainties related to the awarding of future government
 contracts, uncertainties relating to the enforcement of our intellectual
 property rights, uncertainties as to whether other companies will use our
 technology, as well as the risk factors listed from time to time in our
 filings with the SEC, including our Annual Report on Form 10-KSB and other
 reports filed with the SEC.
 
 

SOURCE  NVE Corporation