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To: richard surckla who wrote (31561)	10/5/1999 10:16:00 AM
From: Boplicity	Read Replies (2) \| Respond to of 93625

Micromem Announces Breakthrough Memory Technology October 5, 1999 -------------------------------------------------------------------------------- TORONTO--(BUSINESS WIRE) via NewsEdge Corporation -- MAGRAM(TM) Solves Short-Comings of Existing Memory Technologies Promising to Radically Redefine Architecture Of Future Digital Products Micromem Technologies, Inc. (Electronic Pink Sheets:MMTI), a pioneer in next-generation memory technologies, today announced that it has successfully produced and tested samples of MAGRAM(TM) memory, the world's first memory to combine all the positive attributes of existing memory technologies while eliminating their drawbacks. Heralded as long sought after technology of the digital memory industry, MAGRAM memory offers a potentially superior replacement to all digital memory available today. "It looks like it truly is a future non-volatile replacement for DRAM. And that's very critical," said Sherry Garber, Senior Vice President, SEMICO Research Corporation. "This is something the industry continuously looks for." As the first digital memory to combine non-volatility (retains information even after being shut off) and random read/write access (fast speed), MAGRAM offers a superior memory solution for computers, diagnostic tools, medical equipment, automobiles, and a host of other products that store critical data that needs to be accessed quickly without risk of loss due to power failure. Aside from being the first non-volatile random access memory, MAGRAM is the first memory technology to combine other positive attributes found in various other digital memory technologies including low power consumption, low cost and high density. This unique combination of features makes MAGRAM the perfect solution for virtually all applications requiring digital memory. In addition, research at the University of Utah in Salt Lake City, indicates that the manufacturing process for MAGRAM is easier, less costly, and uses no exotic materials in the manufacturing process. "Imagine being able to use your computer the instant you turn it on rather than having to wait for it to boot up," said Richard Lienau, creator of MAGRAM technology. "Or having a cellular phone that stores massive amounts of information, yet has far greater battery life. Computers using MAGRAM memory would never lose its data due to power outages. By solving the shortcomings of other memory technologies, MAGRAM makes all this possible and more." 8-bit samples of MAGRAM technology were recently tested at the University of Utah in Salt Lake City. According to a representative of Allied Signal acting as third-party observer of the testing, MAGRAM technology passed the tests. "The team applied an exhaustive combination of random read/write cycles with a semi-automatic test system to show the independent operation of each of the 8 bits," said Dale Hensley, Technical Project Specialist for Allied Signal. Inc. "The technology performed flawlessly." Initial MAGRAM-enabled products will likely include cellular phones, pagers and PDAs (personal digital assistants) and will eventually be used to replace all types of memory including hard drives, RAM and ROM used in laptop computers. "I believe the potential for MAGRAM technology is to take a sizeable portion of the non-volatile market in a relatively short period of time," said Hensley Micromem Technologies, Inc. is actively pursuing partnerships with major manufacturers to produce MAGRAM devices compatible with today's standard architectures and to establish alliances with select computer industry leaders to develop new systems around the technology. "There's no question that the computer industry could benefit from a single memory solution that offers the characteristics promised by MAGRAM, " said Garber. "What's really going to be interesting is seeing who gets their hands on the technology first, and how it is put to use." About Micromem Technologies Micromem is an Ontario corporation with head offices in Toronto, Ontario, dedicated to the development and licensing of next-generation MAGRAM technology. Micromem's wholly-owned subsidiary, Pageant Technologies Inc. ("Pageant "), holds a 100% exclusive worldwide license to develop the MAGRAM technology and to manufacture and sell related products. Pageant is the holder of an undivided 50% interest in the U.S. patent and patent applications worldwide in respect to MAGRAM. Under the terms of the license, Pageant is required to pay to the licensor or its nominee a royalty of 40% of the gross profits (less certain expenses). For further information, please contact Mr. Stephen B. Fleming, President & C.E.O. of Pageant Technologies (USA) Inc. at tel. 505/471-3027 or visit the company's web-site at www.micromeminc.com. Investors can receive up-to-date information at Micromem's investor relations hotline at 1-800-251-4205. No securities regulatory authority has approved or disapproved of the contents of this news release. <<Business Wire, 10-04-99, 05:59 Eastern>> CONTACT: Micromem Technologies Inc. \| Stephen B. Fleming, 505/471-3027 \| or \| Copithorne & Bellows \| Patrick Dodson, 206/727-2880 \| patrick.dodson@cbpr.com [Copyright 1999, Business Wire]