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NVE Corporation Provides MRAM Update


Business Editors

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--NVEC--
NVE Corporation (Nasdaq:NVEC) is providing the following
update on the status of its MRAM partnerships.

-- Cypress Semiconductor has made working MRAM using NVE
intellectual property. Ralph Schmitt, Cypress Semiconductor's
Executive Vice President of Sales and Marketing, said "we feel
very confident that we are close to having a production-ready
product." Under a technology exchange agreement, NVE has
rights to Cypress Semiconductor's MRAM designs, rights to
modify such designs, and rights to have MRAM manufactured at
Cypress Semiconductor's foundry.