Wave Systems Describes Trusted Computing Solutions in Department of Defense Identity Protection and Management Conference Speech

Industry Standard Trusted Computing Solutions Can Dramatically Enhance Security Levels in Government and Military Computers and Networks

Lee, MA — April 18, 2005 — Wave Systems Corp. (NASDAQ:WAVX) today announced that Steven Sprague, president and CEO, will present "Trusted Computing Today in an Identity Protection and Management Domain" at the Department of Defense Identity Protection and Management Conference, Orlando, FL. The presentation will be held on Wednesday, April 20, at 8 a.m.

Sprague’s presentation will discuss how to implement new industry standard personal computer security chip technology, now shipping in many commercial PCs, in enterprise and government IT networks. The security chip and associated software is designed to be integrated into industry standard, Microsoft-compatible, trusted computing solutions while taking advantage of the existing infrastructure.

"The infrastructure is already in place to take advantage of trusted computing solutions that are designed to eliminate many of the security issues plaguing IT managers," Sprague said. "The tools exist today for trusted computers to increase the level of protection for computer networks. IT managers may be surprised how quickly solutions, such as strong authentication using fingerprint technology or smart card technology, access control and data protection, can be integrated into their networks."

"An important choice for all government agencies, including the Department of Defense units attending the conference, is to ask their PC vendors to supply them with the off-the-shelf trusted PCs that are generally available today," Sprague said. "These PCs, when running trusted computing software tools such as those available from Wave Systems, are designed to deliver a low cost, high value security solution for a range of security challenges facing government agencies today."

Easy to enable and easy to manage trusted computing solutions, including stronger network authentication, data protection, stronger authentication to VPNs, password protection, secure information distribution and secure email, are available today from several trusted computing vendors, including Wave, Sprague said.

Wave’s EMBASSY® Trust Suite software solutions are designed to be compliant with the Trusted Computing Group (TCG). The computer industry has shipped millions of PCs embedded with a TCG-standard chip, called the Trusted Platform Module (TPM). 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 http://www.wave.com/products/ets.asp.

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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.
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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