Wave Launches SmartSignature Server™ Adding Enhanced Functionality and Convenience to the eSign Transaction Management Suite™

Lee, MA — October 14, 2005 — Wave Systems Corp. (NASDAQ:WAVX) announced today that it has expanded its product line of electronic signature and document process management solutions with the introduction of the SmartSignature Server, a new modular component of the eSign Transaction Management Suite (eTMS).

Wave’s eSign Transaction Management Suite is designed to enable organizations to manage business processes and transactions entirely online, enabling automation of business policy compliance and reduce the need for time-consuming and costly traditional ink signatures and paper storage, or expensive traditional delivery services.

With Wave’s SmartSignature Server deployed by service providers and enterprises, users may now more conveniently enjoy the benefits of e-signature applications without additional plug-in downloads, common in signing applications today, because the enhanced signing capability is an integrated part of the document process. Service providers may customize the electronic signing experience and authentication processes based on the risk of the transaction.

Service providers and enterprises may also use the stronger security options for signatures based on PKI certificate authentication and signing, including support for the Trusted Computing Group’s Trusted Platform Module security chip. Wave’s eSign Transaction Management Suite is designed to be integrated into this trusted computing environment.

Through Wave’s SmartConnect™ web-services, SmartSignature Server is also designed to be easily integrated into existing applications such as CRM or document management systems to create new interfaces for signers. These capabilities allow organizations such as banking, mortgage, insurance or financial services companies to create a signing experience that is seamless and appears as an extension of existing processes and documents.

As an industry leader in developing trusted computing software and services, Wave’s SmartSignature Server extends the range of options available to enterprises for authentication and signing, including integration with the eTMS SmartSAFE™ application. SmartSignature Server has elements that make an e-signature signing process "intelligent," including dynamically preparing a document for signing based on transaction requirements and parameters such as document expiration, the designation of signers, transaction specific language, and consumer consent.

"By adding SmartSignature Server to Wave’s eSign Transaction Management Suite, we believe we can offer to our customers the most comprehensive eSign solution available today with choices to address the various levels of authentication, signing requirements, formats, and risk management decisions associated with all document types," said Brad Eaton, vice president of mortgage products with a la mode, inc., developer of desktop, mobile, and Web tools for the real estate and mortgage industries. "We serve different financial services markets, such as mortgage and real estate, with different regulatory and compliance requirements, and this solution allows us to deliver customized solutions by using the modular pieces of the eSign Transaction Management Suite."

"SmartSignature-Server allowed us to easily add electronic signatures to our iForms Suite," said Dave Kenney, CEO of Efficient Forms. "Our customers now have the ability to accurately and automatically complete forms processes and sign them on-line without ever leaving the organizations’ web-site."

"By eliminating the need for traditional ink signatures and paper transactions, organizations can realize a significant return-on-investment with this business process automation solution," said Scott Schrader, president of Wave’s eSign Systems.

"The ability to tailor the signing experience to fit a specific process, gives us the ability to address a greater range of scenarios in business-to-business, business-to consumer and government transactions," said Kelly Purcell, Wave’s senior vice president, business development. "Wave’s eSign Transaction Management Suite is an emerging leader in e-vault, ESIGN compliant digital and electronic signing, records retention, PKI-based identity and integration services."

Wave’s eTM Suite consists of SmartSignature, SmartSignature Server, SmartSAFE, SmartIdentity™ Services, SmartConnect, the SMARTDoc™ Mortgage Banking Module and the EMBASSY® Trust Suite of software solutions.

The SmartSignature application uses digital certificates in a point-and-click client signing process, including support of trusted computing hardware being shipped today in millions of PCs. The SmartSignature Server application is a username/password based signing component residing in a server. Both applications are integrated with the SmartSAFE and can be implemented simultaneously. SmartSAFE stores digitally-signed, legally-binding contracts in a document repository for future viewing and legal record retention. SmartIdentity Services validates the identity of parties involved through an optional PKI-based identity application using an Equifax® patented process and automated digital certificate issuance. The eTM Suite SmartConnect solution offers web services for integration with other applications such as forms engines, work flow, documents systems legacy systems and CRM.

For more information on these solutions, please visit www.esignsystems.com or www.wave.com/about/esign.asp.

About Efficient Forms
Efficient Forms is a privately held company located in Littleton Colorado. With more than 200 customers in the Insurance and financial services industries, Efficient Forms has experienced explosive growth with a new approach to forms creation and integration.  Efficient Forms was founded by a group of IT professionals who have spent the last 18 years developing and deploying enterprise class software for financial services companies.

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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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Wave MediaContact:
John Callahan
Wave Systems Corp.
(413) 243 7029
jcallahan@wave.com

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Catalyst Global LLC
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