NVE Awarded DoD Development Contract for Anti-Tamper Sensor

May 24, 2006, 01:00 ET from NVE Corporation

    EDEN PRAIRIE, Minn., May 24 /PRNewswire-FirstCall/ -- NVE Corporation
 (Nasdaq:   NVEC) announced today that it was recently awarded a contract by
 the U.S. Army to develop a magnetic anti-tamper sensor. The Phase Two
 development contract was awarded following the successful completion of a
 Phase One feasibility contract. The two-year award is for approximately
 $730,000 with first-year funding of approximately $359,000.
     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 our future eligibility to
 compete for Small Business Innovation Research awards, as well as the risk
 factors listed from time to time in our filings with the SEC, including our
 Annual Report on Form 10-K and other reports filed with the SEC.

SOURCE NVE Corporation