NVE Awarded DoD Smart Sensor Development Contract

Nov 16, 2006, 00:00 ET from NVE Corporation

    EDEN PRAIRIE, Minn., Nov. 16 /PRNewswire-FirstCall/ -- NVE Corporation
 (Nasdaq:   NVEC) announced today that it has been awarded approximately
 $430,000 by the U.S. Air Force to continue development of smart sensor
 adapters. Smart sensors provide richer information than conventional
 sensors. The contract includes a goal of constructing a pre-production
 system. The smart sensor systems could be used onboard aircraft to enable
 better-performing aircraft designs. The Phase Two contract enhancement was
 awarded following the successful completion of a Phase Two development
     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 related to future procurement of
 devices and products by the U.S. Department of Defense, 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