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<TYPE>EX-99
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<FILENAME>cfo-pr.txt
<DESCRIPTION>PRESS RELEASE DATED JANUARY 18, 2006 ANNOUNCING THE RETIREMENT OF RICHARD L. GEORGE AND THE PROMOTION OF CURT A. REYNDERS
<TEXT>
                                                                  PRESS RELEASE
                                                          For immediate release

           NVE Promotes Curt A. Reynders to Chief Financial Officer
                        Richard L. George Retires as CFO

EDEN PRAIRIE, Minn.--January 18, 2006--NVE Corporation (Nasdaq: NVEC) announced
today that Richard L. George retired as Chief Financial Officer and Treasurer
on January 16, 2006. George will remain with the company on a part-time basis
concentrating on Government contract administration. Curt A. Reynders has been
promoted to the position of Chief Financial Officer and Treasurer.

     Reynders, 43, has been NVE's controller since 2001. Before joining NVE he
served in various accounting, auditing and accounting management positions with
public accounting and industry firms. Reynders earned a B.S. in Accounting and
Economics from Morningside College and is a Certified Public Accountant.

      "We appreciate Dick's contributions to NVE over the past nearly 15
years," said NVE President and CEO Daniel A. Baker, Ph.D. "NVE has made
tremendous progress during his tenure. Dick's skills will remain available to
us, and we are fortunate to have an accomplished, experienced individual in
Curt to assume the CFO role."

     NVE is a leader in the practical commercialization of spintronics, a
nanotechnology that many experts believe represents the next generation of
microelectronics. NVE licenses its MRAM intellectual property and sells
spintronic sensors and couplers to revolutionize data sensing and transmission.

     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 the risk factors listed
from time to time in our filings with the SEC, including our Annual Report on
Form 10-KSB and other reports filed with the SEC.

                                      ###
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