EDEN PRAIRIE, Minn.--December 5, 2002--NVE Corporation (OTCBB: NVCR) announced that St. Jude Medical, Inc. (NYSE: STJ) is expanding its use of NVE's unique spintronic Giant Magnetoresistive (GMR) components.

St. Jude Medical has placed orders valued at approximately $1.2 million for components to be delivered in calendar year 2003. Some of the orders will be used to fill supply pipelines, and the company therefore expects sales to St. Jude Medical to stabilize at a lower level beginning late in calendar year 2003 and then grow.

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

Statements used in this press release that relate to future plans, events, financial results or performance are forward-looking statements that are subject to certain risks and uncertainties including, among others, such factors as industry economic trends, our ability to meet stringent customer technical requirements, as well as the risk factors listed from time to time in the company's filings with the SEC, including the company's Annual Report on Form 10-K and other periodic reports filed with the SEC.