EDEN PRAIRIE, Minn.--January 21, 2003--NVE Corporation (OTCBB: NVCR) announced today that the company's common stock has been approved for listing on the NASDAQ SmallCap Market. Trading on NASDAQ will commence on Wednesday, January 22, 2003 under the symbol NVEC, the company's symbol prior to its November 22, 2002 reverse split.

NVE President and Chief Executive Officer Daniel A. Baker, Ph.D. commented, "NASDAQ listing is an important milestone in NVE's development. We believe a NASDAQ listing will allow us to better serve our shareholders. Our decision to apply for listing was based on the success of our commercial products and our improved financial performance."

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 in industrial automation and networks.

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, the company's ability to satisfy NASDAQ's continued listing requirements for SmallCap issuers, 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-KSB and other periodic reports filed with the SEC.