Memry Receives First Payment under Collaboration Agreement

BROOKFIELD, Conn., Jul 6, 2000 - Memry Corporation (OTC Bulletin Board: MRMY), which develops, manufactures and markets products based on advanced shape memory alloys, announced today that it received payment of $500,000 on June 30 from United Stenting, Inc. for assistance associated with the development of United Stenting, Inc.'s proprietary Biflex(TM) stent technology.

Under terms of its collaboration agreement with United Stenting, Memry Corporation provided assistance in design engineering, prototype development, and materials. The agreement calls for a maximum future consideration of up to $2 million to be paid to Memry based upon the future success of the commercialization of the stent technology.

James Binch, CEO of Memry Corporation, said, "United Stenting is the most recent medical device company that has selected Memry to leverage its in-house engineering and prototype development capabilities to help it develop new products. The Biflex(TM) stent technology reflects the kind of development activities we are focusing on with our recently announced Office of Technology."

Memry Corporation, with locations in Brookfield, Conn., Menlo Park, Calif., and Herk-de-Stad, Belgium, provides fully integrated development and manufacturing services to the medical device industry. The company's core capabilities include the design, development and manufacture of nickel titanium (Nitinol) strip, wire and tube; prototype development; advanced laser processing; and specialized micro-coiling and contract assembly. Memry's medical device products include laparoscopic surgical sub-assemblies, medical stent materials and components, catheter components and guidewires. The company also maintains a commercial and industrial materials and components business that produces Nitinol semi-finished materials and components.

For more information, contact Chief Financial Officer Robert P. Belcher at (203) 740-7311. E-mail: Robert.Belcher@memry.com or Frank Hawkins or Julie Marshall, Hawk Associates, Inc. at (305) 852-2383. Email: info@hawkassociates.com.

Detailed information about Memry Corporation can be found on the website www.memry.com . Copies of Memry Corporation press releases, SEC filings, current price quotes, stock charts and other valuable information for investors may be found on the website: http://www.hawkassociates.com.

This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the Company's periodic filings with the Securities and Exchange Commission.