EDEN PRAIRIE, Minn.--April 2, 2002--NVE Corporation (OTCBB: NVEC) announced that it has expanded its operations with the lease of additional office and warehouse space adjoining its current headquarters and production facility in the Minneapolis suburb of Eden Prairie, Minnesota. The new lease adds about 15% to NVE's facility for a total of approximately 21,000 square feet.

The additional space will be used to accommodate expanded production of the company's fast-growing commercial product lines.

NVE is a leader in the practical commercialization of "spintronics," which many experts believe represents the next generation of microelectronics. NVE's products include magnetic sensors and couplers which revolutionize data acquisition and transfer.

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.