Micromem Technologies Inc. appoints Henry N. Dreifus to board of directors



    TORONTO, March 11 /CNW/ - Micromem Technologies Inc. (OTC-BB:MMTIF) a
Toronto-based developer of magnetic random access memory (MRAM), announced
today that it has appointed Henry N. Dreifus to serve on the company's board
of directors.
    Mr. Dreifus is the founder and managing director of Dreifus Associates
Limited, Inc. (DAL), a technology, systems development and solutions
integration organization. Among his accomplishments Mr. Dreifus holds a key
patent on smart card technology and portable electronic transaction
technology. Mr. Dreifus has more than 25 years of experience in the high
technology field including extensive experience on strategic engagements
ranging from magnetic, optical and intelligent (smart cards) for financial,
security, consumer marketing and information applications. He is a recognized
world expert in the card technology industry, providing vision for the
application of enabling technologies to solve business problems, and advises
industry, governments and the U.S. Congress on computer and information
technology matters.
    In addition to his new appointment to the Micromem board, Mr. Dreifus
also currently serves on the boards of Viewzi, Inc. a visual search engine
company, TelaDoc Medical Services, Inc., a national medical cross-coverage
service, and the Defense Business Board of the United States Department of
Defense.
    "We are pleased to appoint Mr. Dreifus to this position," said Joseph
Fuda, CEO of Micromem. "His background in delivering advanced technology
solutions and in the semiconductor industry will bring to Micromem a dimension
and skill set that will help the company as it prepares to commercialize its
MRAM and magnetic sensor technologies."

    Listing: NASD OTC-Bulletin Board - Symbol: "MMTIF"
    Shares issued: 75,263,277
    SEC File No: 0-26005

    About Micromem Technologies Inc.
    --------------------------------
    Micromem Technologies, Inc. (www.micromeminc.com) is focused on the
development of magnetic random access memory (MRAM) technology.

    Statements in this news release that are not historical facts, including
statements about plans and expectations regarding products and opportunities,
demand and acceptance of new or existing products, capital resources and
future financial results are forward-looking. Forward-looking statements
involve risks and uncertainties, which may cause Micromem's actual results in
future periods to differ materially from those expressed or suggested herein.
These uncertainties and risks include, without limitation, the inherent
uncertainty of research, product development and commercialization, the impact
of competitive products and patents, our ability to fund our current and
future business strategies and respond to the effect of economic and business
conditions generally as well as other risks and uncertainties detailed from
time to time in Micromem's filings with the Securities & Exchange Commission.
There can be no guarantee that Micromem will be able to enter into any
commercial arrangements on terms that are favorable to it, or at all. For more
information, please refer to Micromem's Annual Report on Form 20-F and its
Form 6-Ks as filed with the U.S. Securities and Exchange Commission. Micromem
is under no obligation (and expressly disclaims any obligation) to update or
revise any forward-looking statements whether as a result of new information,
future events or otherwise.

    %SEDAR: 00004447E




For further information:

For further information: Jason Baun, Chief Information Officer,
1-877-388-8930

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Micromem Technologies Inc.

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