PRODUCT ANNOUNCEMENT

EDEN PRAIRIE, Minn.—January 7, 2009—NVE Corporation (Nasdaq: NVEC) today announced the introduction of the AAV003-10E Giant Magnetoresistive (GMR) current sensor.

The AAV003-10E combines an extremely low hysteresis GMR bridge sensor element with an on-chip current strap. The bridge output voltage is bipolar and proportional to the current through the strap over a -80 to +80 milliamp input range.

Typical sensitivity is a remarkable one millivolt per milliamp with a 12-volt supply and no amplification, which is much higher than Hall effect sensors. Maximum strap resistance is just 0.35 ohms for low loss and minimal circuit disruption. Unlike shunt resistors, the output is independent of shunt resistance.

The parts come in an ultraminiature 2.5 millimeter by 2.5 millimeter six-pin TDFN package.

AAV003-10E current sensors are targeted at circuit board current sensing for process control and instrumentation. Their sensitivity makes them ideal for 4-20 milliamp current loop detection.

Available now, AAV003-10E current sensors are priced at $1.66 each in 1,000-piece quantities. Datasheets and more information are available at www.GMRsensors.com or www.nve.com.

Giant Magnetoresistance (GMR) is a spintronic effect that produces a large change in resistance of a conducting layer. “Giant” refers to its very large electrical signal.

NVE is a leader in the practical commercialization of spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store and transmit information. The company manufactures high-performance spintronic products including sensors and couplers that are used to acquire and transmit data. NVE has also licensed its spintronic magnetoresistive random access memory technology, commonly known as MRAM.

Statements used in this announcement that relate to future plans, events, or performance are forward-looking statements that are subject to certain risks and uncertainties including, among others the risk factors listed from time to time in our filings with the SEC, including our Annual Report on Form 10-K and other reports filed with the SEC.