Exhibit 99

          Daniel A. Baker, NVE Corporation, interviewed by Susie Jones
                         KCCO (AM 950), Minneapolis
                   Friday, June 20, 2003; 5:43 to 5:53 p.m.


Statements used in this interview 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 uncertainties related to adoption of MRAM, uncertainties relating to
the rate of adoption of our intellectual property, uncertainties relating to
the awarding of future government contracts, 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.


Jones: We are happy to have with us today Dan Baker, who is president and CEO
of NVE Corporation. We've spoken with him before, maybe more than a year ago,
Dan? And now we have some more exciting things to talk about.

Baker: Yes, that's right, Susie, and thanks for having me back on.


Jones: Well, a friend of mine was talking with me about your company, and about
the stock price. And how we have seen the stock price of your company go up
considerably recently, with some news around some new technology. So maybe just
give us the news, and what it's all about.

Baker: OK. The news I think that coincided with the strength in the stock price
was an admission by the IBM-Infineon MRAM partnership that they were well
behind their original schedule, and that puts them at least two years behind
our licensees. We license our technology to several companies including Cypress
and Motorola, and it looks like our licensees have a shot at the world's first
production MRAMs--a device called an MRAM.


Jones: OK, now, you and I also talked about this before--yesterday--talking
about the interview today. MRAM, and what it is in as simple terms as you can
make it.

Baker: Well, "MRAM" stands for Magnetic Random Access Memory, and it uses
magnetism caused by the spin of electrons to store data. So, because it's
magnetic, it's like a hard disk--MRAM data can be permanent, and the data
remains even when power is removed. But unlike a hard disk, it's only the size
of a memory chip and it has no moving parts. So it has the promise of opening
up a whole family of new applications.


Jones: What are the benefits of it, Dan?

Baker: Well, the benefits are that the data stays put when the power's removed,
and it's smaller and faster than conventional memories.


So on a computer, for example, if you turn off the power the data goes away.
And when you turn on the computer, it has to load the programs and the data
from the hard disk into the high-speed memory. And MRAM combines the speed of
semiconductor memory with the non-volatility or persistence of a hard disk. So
the data storage is permanent, but it can be fast enough to run a computer.


Jones: Dan Baker is our guest, he is president and CEO of NVE Corporation.
"NVE" stands for nonvolatile... what does it stand for?

Baker: Right. NVE stands for "nonvolatile electronics," which refers to MRAM.
Nonvolatile means that the data stays put when the power is off.


Jones: OK, very good. Dan tell us about, if you have any sense about it,
obviously, of the potential here--the earnings potential--of such an
accomplishment if you can get to MRAM before the pack.

Baker: The potential is truly to revolutionize the electronics industry, and
some have estimated that MRAM could eventually replace semiconductor memories--
that's a 40 to 50 billion-dollar market. So there's huge potential.

We have a partnership with Cypress, and that allows us access to their
factory--their world-class memory factory right here in the Twin Cities, in
Bloomington.


Jones: OK. Now just, again, to explain the technology a little bit. When you
turn your computer on now it takes a while for it to come up. Would this not
need that? Would it come up right away with this kind of technology?

Baker: Exactly. It would be instant-on, because you wouldn't have to wait for
the data to come off your permanent storage (your hard disk) and go into your
high-speed memory (what's called the DRAM) in a conventional computer. So it
would come on instantly, it would use less power, it wouldn't have the size and
the weight and the battery consumption that hard disks need, and it wouldn't
crash, because there's no hard disk to crash.


Jones: Right, exactly. Dan Baker our guest, NVE Corporation, on Minnesota
Business Focus this hour on KCCO. We're talking about this new technology:
MRAM. And you also compared it for me, Dan, to the difference between an
electric range at home and a microwave. That was another good illustration of
the difference of the two in technology.

Baker: Yes, exactly; MRAM is analogous to a microwave oven in the sense that a
microwave oven uses a magnetron, which is a simple magnetic electron-spin based
device, and it starts up almost instantly.

On the other hand, charge-based electronics tend to be slow, like an electric
oven. An electric oven has a bulk heating element; it has an inherent "warm-up"
time as we all know, and it takes time for the element to warm up and for the
photons to get going, and you don't have that with MRAM. In the same way, MRAM
is faster and more efficient than conventional electronics.



Jones: Dan, why would companies like IBM and Infineon come out and say they're
two years away. Doesn't it hurt them to share any of that information, and how
did that come out?

Baker: Well, it came out in some interviews and was picked up in the trade
press. I think the reason is it that it was becoming more and more obvious that
they weren't going to meet their goals, and I think they felt an obligation to
update the industry and the public about that.


Jones: But your pretty clear, or sure, or hope you're sure that you are going
to get MRAM before two years?

Baker: Well our partners Cypress and Motorola have both announced that they
expect to have devices this calendar year. Cypress expects to be in production
by the end of the year. Motorola plans to have samples this year and production
sometime in 2004. So if they're successful, they've got a shot at having the
world's first MRAM.


Jones: What's it like--doing business in a partnership situation like that with
Cypress and Motorola?

Baker: They've both been great partnerships. They're very good companies.
Cypress is one of the smartest companies in the industry. It's also very
convenient because their factory is right here in the Twin Cities, and our
people have worked together very well. Cypress also made an investment--a
little bit over six million dollars. They have a seat on our board of
directors, and they've been a great partner and a great company to work with.


Jones: Dan Baker is our guest, NVE Corporation, on Minnesota Business Focus
this hour on KCCO. Give us a little bit of the history of the company and when
it was founded, what it started out as, and what it's become?

Baker: Sure. NVE was founded in 1989. Our founder, Dr. Jim Daughton, left
Honeywell to form the company. He's one of the world's leading experts on MRAM
and spintronics. The name NVE stands for "nonvolatile electronics," which
refers to MRAM. We have historically relied on government contracts and we
still get great interest in our technology from the U.S. Government. As we
described the advantages you can imagine why: people don't like battlefield
computers that take time to boot up.

We've introduced commercial products in the past couple of years--spintronics
products--so we consider ourselves leaders in practical spintronics, and those
products have been growing rapidly.


Jones: What proportion of your business now is the commercial side versus the
government side?

Baker: Well, it's been running about a third and we see it continuing to grow.
Our commercial product sales increased 57% for the year in the fiscal year that
just ended March 31.



Jones: What are some of those commercial products?

Baker: We make two types of commercial products: one is a spintronics coupler,
which is a device which transmits data at very high speed using spintronics,
and the the other is a spintronic or magnetic sensor which acquires information
very precisely and very accurately, and those are used in robotics and
industrial control.


Jones: And when you say "spintronic," you're talking about magnetism, right?


Baker: Yes, exactly. Spintronics is magnetism on an atomic level. The spin of
electron causes magnetism. The more technical term is spintronics, but we also
refer to it as magnetic or magnetically-based.


Jones: So, how many people work for you out there?

Baker: We have 65 employees out here in Eden Prairie.


Jones: Sixty-five very smart employees?

Baker: Well, yes, we're fortunate. We have some of the best and brightest in
this industry, and it really is an extraordinary group.


Jones: And you're a public company, right?

Baker: We are. We just became NASDAQ listed in January. Our symbol is NVEC.


Jones: Did you look at the price today?

Baker: I didn't.


Jones: I didn't either, I was hoping you did...

Baker: Oh, OK. Well someone can probably find it, but it's been pretty strong
the past few weeks as you pointed out.


Jones: Very good sir. Well, we appreciate your spending a bit of time with us
today, it's a pleasure, and we'll follow you and watch this thing progress
then.

Baker: Well thank-you, Susie. Thanks for having me on.


Jones: And have a wonderful weekend.

Baker: You too.


Jones: All right, 'bye Dan. Dan Baker, the president and CEO of NVE Corporation
on KCCO, AM nine-five-oh, Twin Cities business radio.