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PRESS RELEASE
CORPORATION
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FOR IMMEDIATE RELEASE
November 27, 2000
NVE CORPORATION IS LAUNCHED
EDEN PRAIRIE, MN--The shareholders of Premis Corporation, a publicly traded
corporation, and Nonvolatile Electronics, Inc., a privately held corporation,
have approved the merger of the two companies. The surviving public company is
NVE Corporation and its Board of Directors will be the previous Nonvolatile
Electronics, Inc. Board of Directors.
Dr. James Daughton, Chairman and President of NVE stated, "NVE is pleased that
the merger with Premis Corporation has been completed. The new NVE should now be
stronger and better able to develop and market its products in its fast growing
and competitive marketplace. NVE will be better positioned to build value for
its shareholders." He went on to say, "The dedicated employees of NVE, its
management and its Board are committed to the future success, growth and
profitability of NVE."
"This merger will give us greater access to the equity market and recognition in
the financial community for our strong leadership position in applying Giant
Magnetoresistive (GMR) materials and Magnetic Tunnel Junction (MTJ) devices to
magnetic sensors, isolators and Magnetoresistive Random Access Memory (MRAM).
Our customers are recognized leaders in their fields and are using these
technologies in next generation products. Today, our products are being applied
in the industrial automation, telecommunications, medical, automotive,
biomedical, military and aerospace markets."
NVE Corporation is an ISO-9001 certified electronics component manufacturer
located in Eden Prairie, Minnesota specializing in the combination of
magnetically sensitive materials with integrated circuits. It currently has 15
issued US Patents and 2 foreign patents with additional patents pending.
Further information on NVE Corporation and its products can be obtained from NVE
at 11409 Valley View Road, Eden Prairie, MN 55344-3617, (952) 996-1636, FAX
(952) 996-1600, email: [email protected] or visit its web site: www.nve.com.
Information regarding the exchange of Premis stock as well as the new stock
exchange symbol will be posted on the NVE web site, as that information becomes
available.
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NVE CORPORATION
11409 Valley View Road - Eden Prairie, MN 55344-3617
Telephone: (952) 829-9217 - FAX: (952) 996-1600
E-mail: [email protected] - WWW: http://www.nve.com
