Wave to Present at AeA Micro Cap Financial Conference in Monterey CA, Monday, May 16th

Lee, MA — May 13, 2005 — Wave Systems Corp. (NASDAQ: WAVX — www.wave.com ), announced today that its President and CEO, Steven Sprague, will provide an overview of Wave and its progress in deploying trusted computing software and services to members of the investment community at the AeA Micro Cap conference on Monday, May 16th in the Monterey Ballroom at the Monterey Plaza Hotel.

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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.

For more information please contact:

Contact:
Gerard T. Feeney, CFO
Wave Systems Corp.
413-243-1600
info@wave.com
Wave Investor Relations Contact
David Collins
Catalyst Global LLC
212-924-9800
wavx@catalyst-ir.com

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