NVE Corporation (NVEC)

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NVE Awarded DoD Development Contract for Anti-Tamper Sensor

EDEN PRAIRIE, Minn.--May 24, 2006--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.

http://www.nve.com/pressReleases.htm#