New Data Protection Technology Demonstrated at Intel Developer Forum by Seagate Technology and Wave Systems

San Francisco, CA — March 1, 2005 — Seagate Technology (NYSE: STX– www.seagate.com ) and Wave Systems Corp. (NASDAQ:WAVX) are demonstrating new hardware-based data protection capabilities in trusted computing platforms as part of the Intel Digital Office Community at the Intel Developers Forum, March 1-3, Moscone Center, San Francisco, California.

The technology demonstration shows the benefits of linking the security of a Trusted Platform Module (TPM), based on the open standards specifications of the Trusted Computing Group, to a Seagate-trusted disc drive. This demonstration solution is designed to provide stronger data protection, enhancing regulatory compliance (SOX, HIPAA), along with greater storage capacity for the user’s sensitive data. This demonstration includes both physical drive security, as well as user authentication for accessing the information. Wave System’s EMBASSY® Trust Suite applications and trusted computing management tools are used to demonstrate both the TPM and the security features of the Seagate disk drives at Booth 741 at IDF.

Seagate and Wave are working together to explore market opportunities, technical requirements, and enterprise benefits which can be achieved by extending the trust capabilities of TPMs and disk drives.
Many analysts consider data the most valuable resource within the enterprise networking environment and adding new, innovative security and trust features to the data storage devices provides additional benefits to corporate and government IT environments. Ensuring that data can only be accessed by authorized computing platforms, and by authenticated users, is a key focus of IDF demonstrations.
"Wave is working with its technology partners to develop new security specifications for a wide range of components and platforms, such as disc drives, as part of its participation in the Trusted Computing Group" said Lark Allen, executive vice president, Corporate Development, Wave Systems. "Working with Seagate gives us the opportunity to accelerate the development and adoption of Trusted Computing in advanced platform configurations."

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.

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For more information please contact:

Wave Media Contact:
Michael Wheeler
Wave Systems Corp.
413-243-7029
mwheeler@wave.com

SEAGATE
Woody Monroy
(831) 439-2838
Woody.monroy@seagate.com

Wave Investor Relations Contact
David Collins, Richard Land
Catalyst Global LLC
212-924-9800
wavx@catalyst-ir.com

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