September 2, 2003 Pacific Financial Printing (“Sublessor”)

EXHIBIT 10.48

September 2, 2003

Pacific Financial Printing (“Sublessor”)

0000 Xxxxxxxx Xxxxxx

Xxxxx Xxxx, XX 00000

Attention: Xx. Xxxxxxx Xxxxxx-XxXxxxx

Xx. Xxxxxx Xxxxxx (“Lessor”)

000 Xxxxxx Xxx

Xxx Xxxxx, XX 00000

Exercise one-year lease extension from 10/01/03-09/30/04 at 0000 Xxxxxxxx Xxxxxx, Xxxxx Xxxx, XX 00000. Approximately 10,000 Sq ft. (the “Premises”)

The undersigned, Memry Corporation (“Sublessee”) is subtenant of the Premises under that certain Standard Sublease dated February 3, 2000 (the “Sublease”). Your rights as tenant of the Premises (and other premises at the same address) are governed by that certain Standard Industrial/Commercial Single-Tenant Lease dated February 14, 2000 and as extended to April 15, 2006 by Second Addendum to Lease dated December 31, 2000 (as so extended and renewed, the “Lease”).

Memry Corporation (“Sublessee”) is exercising the second of four 1-year extensions as contained in paragraph (c) of Sublease Extension dated April 12, 2001. Sublessee will make monthly payments of $11,220, for a total of $134,640 (12 months X’s $11,220 per month).

The terms and conditions of this extension will be applied if the 2 remaining extensions are exercised.

Agreed and Acknowledged:						Agreed and Acknowledged:
Memry Corporation						Pacific Financial Printing
By:		/s/ Xxx Xxxxxxx				By:		/s/ Xxxxxxx Xxxxxx-XxXxxxx
Xxx Xxxxxxx						Xx. Xxxxxxx Xxxxxx-XxXxxxx
CFO & Senior Vice-President						Vice-President of Operations
Date:		9/2/2003				Date:		9/5/03

Memry Corporation
Headquarters and Eastern Operations 0 Xxxxxxxxx Xxxxxxxxx		Xxxxxxx Operations 0000 Xxxxxxxx Xxxxxx
Xxxxxx, XX 00000		Xxxxx Xxxx, XX 00000
Executive Offices 000-000-0000 Fax 000-000-0000		000-000-0000 Fax 000-000-0000

Customer Service 866-Go Memry / Fax 000-000-0000