QBS Software to Distribute Wave’s EMBASSY® Secure Software, Targeting EU Enterprises Interested in Trusted Computing

Lee, MA, USA and Wembley, UK — February 27, 2006 — Wave Systems Corp. (NASDAQ:WAVX www.wave.com) and QBS Software Limited, an award-winning software distributor, today announced that QBS Software has been appointed by Wave as a distributor of Wave’s EMBASSY® Trust Suite software and infrastructure to enterprises in Europe interested in trusted computing solutions for personal computer security.

Wave’s EMBASSY software is designed to deliver solutions compliant with the Trusted Computing Group specifications for trusted computing. Millions of PCs have been shipped by the computer industry embedded with a TCG-standard chip, called the Trusted Platform Module (TPM). TPMs serve as a platform for secure services and applications — offered by companies such as Wave. Wave has designed its secure business productivity software to work with all TCG-compliant TPMs commercially available.

QBS Software provides tools to the developer community and is a leading software supplier in Europe providing thousands of products to developers, designers, IT Managers, network administrators, DBAs and corporate buyers. Products range from IDEs to code tools, components to Installation tools as well as security, reporting, installation, web, database, help creation, system tools and application software.

"We believe that Trusted Computing, with solutions available from nearly every PC OEM and important independent software vendors like Wave, is becoming increasingly important to enterprises and government agencies evaluating stronger data security," said Skye Quin, a director of QBS Software. "Wave’s EMBASSY platform of client and server solutions is a powerful solution addressing industry standard data protection, identity protection and access control needs."

"QBS Software is a successful and highly visible distributor of software solutions within the EU, including security solutions. We believe the company will play an important role in reaching the growing market for trusted computing solutions around the continent," said Bruno Leconte, Wave vice president, EMEA.

The EMBASSY Trust Suite is designed to be compatible with the Microsoft Office® environment, and to deliver a variety of PC-related security and productivity tasks, in an intuitive, easy-to-understand format.

Wave’s EMBASSY technology platform is lead by the EMBASSY Trust Suite 5.0 and the EMBASSY Enterprise Authentication Server, now available for trusted computing for business and government applications. New and improved trusted computing features include network policy management, data protection, biometric authentication, smart card authentication, password authentication and machine authentication of a user’s personal computer to a server.

More information about EMBASSY Trust Suite products is available through Wave Systems at www.wave.com/products/ets.asp.

About QBS Software

Established in 1987 to provide tools to the developer community, QBS Software has expanded to become a leading software supplier in Europe providing thousands of products to developers, designers, IT Managers, Network Administrators, DBAs and Corporate Buyers. Products range from IDEs to code tools, components to Installation tools as well as security, reporting, installation, web, database, help creation, system tools and application software.

QBS has developed a keen expertise in product marketing and management alongside sophisticated in-house publishing and fulfillment. We have an extensive network of industry connections and commercial relationships with software publishers and vendors throughout the world, many of whom rely on QBS Software to build strong markets for them in the UK and Europe. QBS Software is an active participant in leading industry exhibitions, conferences and roadshows and works closely with various user groups.

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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:

Media :
Michael Schultz
Schwartz Communications, Inc.
Wave Investor Relations Contact
David Collins, Richard Land
Catalyst Global LLC

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