EDEN PRAIRIE, Minn.--April 11, 2001--NVE Corporation (OTCBB: NVEC) announced that it has begun shipping custom sensors to be used in pacemakers made by the Cardiac Rhythm Management Division of St. Jude Medical, Inc. (NYSE: STJ). The NVE devices allow non-invasive high-speed communication with an implanted pacemaker, and are based on NVE's unique Giant Magnetoresistive (GMR) technology.

St. Jude Medical has placed orders valued at over $200,000 for devices to be delivered in calendar year 2001.

St. Jude Medical spokesman Jim Reynolds, Vice President, Materials, stated, "NVE was able to meet St. Jude Medical's stringent performance and quality standards. Their unique technology contributes to us producing medical devices for the most effective, economical, and reliable treatment of cardiac rhythm disease."

Jay Brown, vice president of NVE's Sensor Business Unit commented, "St. Jude Medical's product demonstrates the wide range of applications that can benefit from the speed and precision of NVE devices. This order is an important milestone in the commercialization of NVE's revolutionary technology."

Headquartered in St. Paul, Minnesota, St. Jude Medical, Inc. is dedicated to the design, manufacture and distribution of innovative medical devices of the highest quality, offering physicians, patients and payers unmatched clinical performance and demonstrated economic value. Its Cardiac Rhythm Management Division (CRMD) is a leading global supplier of pacemakers, implantable cardioverter defibrillators (ICDs), and catheter mapping and ablation systems for the treatment of cardiac rhythm disease.

NVE designs and manufactures isolator and sensor components with the potential to revolutionize data transfer. Its devices allow networks to run at much higher speeds than otherwise possible, and unprecedented precision in industrial control and robotics. NVE is also widely recognized as a leading-edge developer of nonvolatile MRAM technology.

Statements made in this release concerning the Company's or management's intentions, expectations, or predictions about future results or events are "forward-looking statements" within the meaning of the Private Securities Reform Act of 1995. Such statements are necessarily subject to risks and uncertainties that could cause actual results to vary from stated expectations, and such variations could be material and adverse. Additional information concerning the factors that could cause actual results to differ materially from the Company's current expectations is contained in the Company's SEC filings.