NVE Corporation Provides MRAM Update - New Technology

NVE Corporation 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.
• Motorola, Inc. has said it expects to begin MRAM production by late 2004. NVE believes that the MRAMs Motorola has described publicly contain NVE's intellectual property. NVE expects to receive royalties if Motorola's production devices contain NVE's intellectual property.
• NVE plans to further monetize its MRAM intellectual property with additional license agreements.

MRAM is a revolutionary memory fabricated using nanotechnology which uses electron spin to encode data. MRAM has been called the "holy grail" of memory because it has the potential to combine the speed of SRAM, the density of DRAM, and the non-volatility of flash.

NVE is a leader in the practical commercialization of spintronics, a nanotechnology which 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.

Posted 19^th March 2004