Wave Systems to Feature Trusted Computing Solutions at Department of Defense Identity Protection and Management Conference

Lee, MA — April 15, 2005 — Wave Systems Corp. (NASDAQ:WAVX) today announced its portfolio of trusted computer products will be demonstrated April 19-20 at the Department of Defense Identity Protection and Management Conference, Disney’s Coronado Springs Resort, Orlando, FL.

"Wave believes its portfolio of trusted computing solutions for personal computers and servers offers the government secure solutions for protecting data," said Steven Sprague, president and CEO, Wave Systems. "Trusted computing solutions are available today to address specific needs of those working on military and national security projects. For instance, industry standard trusted PCs and software are designed to enhance machine identity in computer networks, deliver secure remote access, encrypt files and documents and deliver network authentication of those seeking smart-card based building access."

At the conference, Wave will highlight its trusted computing solutions for the government, homeland security and national defense markets, including its EMBASSY® Trust Suite software, and its Key Transfer Manager solutions. Sprague’s presentation, "Trusted Computing Today in an Identity Protection and Management Domain," will outline security challenges and solutions. The presentation is on Wednesday, April 20, at 8 a.m.

Wave solutions will be demonstrated at Wave’s booth (#106).

More information about Wave’s trusted products and solutions is available at www.wave.com.

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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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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.
Wave Investor Relations Contact
David Collins, Richard Land
Catalyst Global LLC

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