Seagate and Wave Systems Demonstrate Robust Data Security for Notebook PC’s at RSA Conference 2006

San Jose, CA — February 13, 2006 — Seagate Technology (NYSE:STX), the world’s leading hard drive maker, and Wave Systems Corp. (Nasdaq:WAVX) are teaming up at the RSA Conference 2006, February 13-17, at San Jose’s McEnery Convention Center to showcase the latest development in data security. The two companies will demonstrate a security solution that combines the strongest protection available for intellectual property, personal information and other sensitive data stored on lost or stolen notebook PCs with a simple way to manage and protect encryption keys and passwords.

The demonstration features Seagate Momentus 5400 FDE, a 2.5-inch, 5400-RPM notebook hard drive with hardware-based Full Disc Encryption (FDE) to deliver the highest levels of data security, and Wave’s EMBASSY Security Center software. The Wave Systems software suite, which meets security specifications established by the Trusted Computing Group (TCG), an industry group focused on developing open standards for security hardware and software, uses Wave’s Trusted Drive Manager to give organizations an easy way to set up and configure the Momentus 5400 FDE drive and automate protection and management of passwords and encryption keys.

"The Trusted Computing Group specifications have provided the industry with standard building blocks to enhance computer security," said Lark Allen, executive vice president, Wave Systems. "By extending the TCG trusted computing specified services to Seagate’s FDE drives, Wave’s software enables organizations to implement a single, integrated infrastructure for managing their trusted devices."

Wave’s EMBASSY solutions support hardware security features provided by TCG Trusted Platform Module (TPM) security chips currently shipping in millions of personal computers. Among other capabilities, Wave’s Trusted Drive Manager provides strong authentication for tightly controlled access to FDE drives and can be used with biometrics and smart cards to enable multi-factor authentication. Extending the EMBASSY Security Center to include support for the Seagate Momentus 5400 FDE family can bring an important new capability to data protection for organizations of all sizes. 

Momentus 5400 FDE — Delivering New Levels of Notebook PC Security

With the new Momentus 5400 FDE hard drive, Seagate has taken the lead in delivering a simple, cost-effective way to provide strong protection against unauthorized access to data on notebook PCs. Momentus 5400 FDE automatically encrypts all data, not just selected files or partitions, on the drive. Seagate FDE also eliminates disc initialization and configuration required by encryption software, allows hard drive data to be erased instantly so the drive can be redeployed, and delivers full inline-speed encryption with no impact to system performance.  

Seagate FDE works by putting all security keys and cryptographic operations within the drive, separating them from the operating system in order to provide greater protection against hacking and tampering than traditional software alternatives, which can give thieves backdoor access to encryption keys and are more vulnerable to viruses.

"As notebooks continue to proliferate, representing an increasing segment of the overall PC market, more customers are demanding systems that provide a bulwark against the loss of sensitive business or personal information and the potentially high related costs when notebooks are lost or stolen," said Karl Chicca, Seagate senior vice president and general manager, Personal Storage. "Seagate is focused on teaming with Wave Systems and other providers of industry-standard security software to enable easy-to-deploy notebook PCs with strong hardware encryption and the software infrastructure needed to manage and protect passwords and encryption keys."

Wave Systems and Seagate Present at RSA Conference

The Seagate-Wave Systems notebook PC security demonstration can be seen at the Wave Systems booth, 1407, and the Trusted Computing Group booth, 1411, at RSA Conference 2006. These Wave Systems and Seagate security experts will speak at the conference’s Trusted Computing Group Seminar on Monday, February 13:

Steven Sprague
Wave Systems
Platform Solutions: Authentication
10:45 — 11:15 a.m.

Michael Willett
Seagate Technology
Platform Solutions: Storage
11:15 — 11:45 a.m.
Q&A
Brian Berger, Moderator
Wave Systems
12:45 — 1:00 p.m.


Solution Availability

Seagate’s Momentus 5400 FDE hard drive and Wave’s EMBASSY Security Center software will be available later this year.

About Seagate

Seagate is the worldwide leader in the design, manufacture 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 was named 2006 Company of the Year by Forbes Magazine. Seagate can be found around the globe and at www.seagate.com.

Wave Logo

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.

Safe Harbor for Forward Looking Statements

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.

All brands are the property of their respective owners.

Seagate, Seagate Technology and the Wave logo are registered trademarks of Seagate Technology LLC. Momentus is either a trademark or registered trademarks of Seagate Technology LLC. All brands are the property of their respective owners

For more information please contact:

SEAGATE
Michael Hall
(831) 439-2731
michael.l.hall@seagate.com

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

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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