NVE CORP /NEW/ — Director's Dealing 2003

Oct 16, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NVE CORP /NEW/ (NVEC)
CIK: 0000724910
Period of Report: 2003-08-22

Reporting Person: LINDAHL JOHN E (Former 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-22	Common Stock	S	100	$21.50	Disposed	9	Direct
2003-08-22	Common Stock	S	9	$21.36	Disposed	0	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1221487	Indirect

Footnotes

F1: The securities reported on Line 3 of Table I are held of record by John P. Whaley, of which Norwest Equity Partners IV, a Minnesota limited partnership ("NEP IV") may be deemed a beneficial owner. Itasca Partners, a Minnesota limited liability partnership ("Itasca") is the general partner of NEP IV. John E. Lindahl is a managing partner of Itasca. By virtue of his position as a managing partner of Itasca, Mr. Lindahl may be deemed to beneficially own such shares. Mr. Lindahl disclaims beneficial ownership of such securities, except to the extent of his indirect pecuniary interest therein.