Dutton Associates Announces Investment Opinion: Memry Lowered to Neutral Rating In Update Coverage By Dutton Associates.

EL DORADO HILLS, Calif. -- Dutton Associates updates its coverage of Memry Corporation (AMEX:MRY) with a Neutral rating and termination of a price target. The 6-page report by Dutton senior analyst William Prather R.Ph., M.D. is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals.

We are revising our investment rating on the common stock of Memry Corporation from Buy to Neutral for the following reasons we discuss. These include management's comments in their recent Q1-06 conference call, held on November 14, 2005, that has led us to believe the near-term performance of the Company will have a picture similar to what Memry reported for their most recently announced quarter, and Memry has indicated in their recent SEC filings that, in looking forward to the remainder of fiscal 2006, they anticipate that overall nitinol stent component revenues for the remainder of fiscal 2006 will experience some decline from the revenues in fiscal 2005. Although Memry's common stock is selling at a price/sales ratio of approximately 1 and significantly less than their 200-day moving average, we believe significant appreciation of the stock will only occur when either the Company's financial performance improves, with positive earnings growth or with a significantly positive strategic event.

About Dutton Associates

Dutton Associates is one of the largest independent investment research firms in the U.S. Its 27 senior analysts are primarily CFAs and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 120 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.

The cost of enrolment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $35,000 from the Company for 4 Research Reports with coverage commencing on 9/09/2005. We do not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.