NVE Promotes Curt A. Reynders to Chief Financial Officer

Richard L. George Retires as CFO

Jan 18, 2006, 00:00 ET from NVE Corporation

    EDEN PRAIRIE, Minn., Jan. 18 /PRNewswire-FirstCall/ -- NVE Corporation
 (Nasdaq:   NVEC) announced today that Richard L. George retired as Chief
 Financial Officer and Treasurer on January 16, 2006. George will remain with
 the company on a part-time basis concentrating on Government contract
 administration. Curt A. Reynders has been promoted to the position of Chief
 Financial Officer and Treasurer.
     Reynders, 43, has been NVE's controller since 2001. Before joining NVE he
 served in various accounting, auditing and accounting management positions
 with public accounting and industry firms. Reynders earned a B.S. in
 Accounting and Economics from Morningside College and is a Certified Public
     "We appreciate Dick's contributions to NVE over the past nearly 15 years,"
 said NVE President and CEO Daniel A. Baker, Ph.D. "NVE has made tremendous
 progress during his tenure. Dick's skills will remain available to us, and we
 are fortunate to have an accomplished, experienced individual in Curt to
 assume the CFO role."
     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 sensors and couplers to revolutionize data sensing and
     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 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