Memry Corporation Announces Receiving Tibbetts Award From The U.S. Small Business Administration

Business Wire, Oct 17, 1997

BROOKFIELD, Conn.--(BUSINESS WIRE)--Oct. 17, 1997--Memry Corp. (MRMY OTC Bulletin Board (TM)) today announced it received, in a Washington, D.C. ceremony yesterday, one of 68 Tibbetts Awards, presented annually to specific companies demonstrating excellence in the fulfillment of U.S. Small Business Innovation Research (SBIR) programs resulting in development of products or processes likely to have a material impact on the nation's economy.

Founded in 1981, Memry Corp. began conducting applied research under the U.S. Congress' SBIR programs in 1984. Since 1984, the company has conducted 16 Phase I programs and four Phase II programs, the most recent involving programs for NASA and the National Institutes of Health. The Office of Technology of the U.S. Small Business Administration honored Memry for development of anti-scald valves for residential safety, the nation's first digital electronic bath/shower vlave incorporating anti-scald technology, FireCheck(R) industrial fire safety valves and most recently, the development of a nickel-free super-elastic titanium-based alloy for use in dental and other medical applications.

In receiving the award, the company's co-founder and Chief Scientist, Dr. L. MacDonald Schetky, commented, "special tribute should be directed to all those involved in the shape memory alloy field for their nearly quarter century commitment to the technology before commercial success truly began, particularly those engineers formerly with Raychem Corp. and university scholars such as Dr. Marvin Wayman of the University of Illinois."

For further information, contact Memry's Investor Relations Department at 203/740-7311 or the Press Officer at the Office of Technology, United States Small Business Administration at 202/205-6740.

Memry Corp., headquartered in Brookfield, Conn., is engaged in the design, development and manufacture of various industrial, consumer and medical materials and components utilizing shape memory alloys, including such products as laproscopic surgical assemblies, medical stent materials and components, cellular telephone antennae components, anti-scald and other high performance valves, and an extensive supply of nickel titanium strip, wire and tubing through its Menlo Park, Calif. facility.

CONTACT: Memry Corp., Brookfield

Investor Relations Dept.

203/740-7311

or

United States Small Business Administration

Office of Technology

Press Officer

202/205-6740