Wave Systems Demonstrates Trusted Computing Software for Enterprise and Government at the Intel Developer Forum

Lee, MA — March 1, 2005 — Wave Systems Corp. (NASDAQ:WAVX) today announced that demonstrations of its secure software, EMBASSY Trust Suite (ETS), will be held at the Intel Developer Forum, March 1-3, at the Moscone Convention Center, San Francisco.

Demonstrations of EMBASSY Trust Suite capabilities will be held at the Wave Booth 436 in the Trusted Computing Group Community, at Intel’s booth in the Digital Office Community and in the Intel-Seagate-Wave Booth 741, in the Digital Office Community.

“Wave’s believes our ETS solution is differentiated in the trusted computing marketplace because its secure software is designed to be intuitive and easy to use, offers features such as strong authentication, data protection and VPN access based on stated customer requirements, has been demonstrated to be interoperable across all available platforms and security chip vendors, and offers server solution upgrades needed by enterprises and government users,” said Steven Sprague, Wave’s president and CEO.

Wave’s ETS secure software capabilities include:

Wave’s ETS software solutions are designed to be compliant with the Trusted Computing Group (TCG) specifications. The computer industry has shipped millions of PCs embedded with a TCG-standard chip, called the Trusted Platform Module. Wave has designed its secure business productivity software to work with all TCG-compliant TPMs commercially available.

More information about EMBASSY Trust Suite products is available through Wave Systems at www.wave.com.



About Seagate Technology

Seagate is the worldwide leader in the design, manufacturing and marketing of hard disc drives, providing products for a wide-range of Enterprise, Desktop, Mobile Computing, and Consumer Electronics applications. Seagate’s business model leverages technology leadership and world-class manufacturing to deliver industry-leading innovation and quality to its global customers, and to be the low cost producer in all markets in which it participates. The company is committed to providing award-winning products, customer support and reliability to meet the world’s growing demand for information storage. Seagate can be found around the globe and at www.seagate.com .

Seagate, Seagate Technology and the Seagate logo are U.S. registered trademarks of Seagate Technology LLC.

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About Wave Systems Corp.

Wave is a pioneer in hardware-based PC security that provides software to help solve critical enterprise PC security challenges such as data protection, strong authentication, network access control and the management of these enterprise functions.  Wave is a founding member of the Trusted Computing Group (TCG), a consortium of more than 100 companies that forged open standards for hardware security.  Wave’s EMBASSY® line of client- and server-side software leverages and manages the security functions of the TCG’s industry standard hardware security chip, the Trusted Platform Module (TPM) as well as hard drives that comply with TCG’s “Opal” self-encrypting drive (SED) standard.  Self-encrypting drives are a growing segment of the data protection market, offering increased security and better performance than most existing software-based encryption solutions.  TPMs are standard equipment on many enterprise-class PCs shipping today and have shipped on an estimated 300 million PCs worldwide.  Using TPMs and/or SEDs and Wave software, enterprises can substantially and cost-effectively strengthen their current security solutions.  Visit http://www.wave.com for more information.

Safe Harbor for Forward Looking Statements

Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company’s financing plans; (ii) trends affecting the company’s financial condition or results of operations; (iii) the company’s growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.

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For more information please contact:

Wave Media Contact:
Michael Wheeler
Wave Systems Corp.
413-243-7029
mwheeler@wave.com
Wave Investor Relations Contact
David Collins, Richard Land
Catalyst Global LLC
212-924-9800
wavx@catalyst-ir.com

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