Wave Software to Enhance Security for New Dell Mobile Systems

EMBASSY® Trust Suite for Dell Leverages Trusted Computing for Advanced Data Protection, Encryption and More

Lee, MA — March 29, 2006 — Wave Systems Corp. (NASDAQ:WAVX www.wave.com) announced today that a new version of its software is now shipping with new Dell Latitude notebooks and Dell Precision mobile workstations. Dell will include the Wave software as a standard offering on all Latitude D620 and D820 notebooks and Dell Precision M65 and M90 mobile workstations.  

The computers contain a Trusted Platform Module (TPM), a unique standards-based hardware security chip that handles various security tasks on a computer. This hardware-based solution holds computer-generated keys for encryption, helping avoid attack by hackers looking to capture passwords or steal the encryption keys to access sensitive data stored on PCs. When combined with Wave Systems EMBASSY Trust Suite software, the TPM performs a variety of business security features, such as system authentication to help ensure only authorized computers can access the network and data.

Bundling Wave’s EMBASSY Trust Suite adds capabilities for security policy management, data protection, password management and strong pre-boot authentication.   The benefits of these applications for reducing network security problems include mitigating password, data and personal information theft, application security, strong wireless authentication, secure email and more—all while increasing productivity. The entire solution is standards based, interoperable with known business applications and very easy to deploy and use in an Enterprise Environment.

A more fully featured version of Wave’s EMBASSY software, EMBASSY Trust Suite for Dell (ETS) 2.1, as well as EMBASSY Authentication Server (EAS) and EMBASSY Key Transfer Manager Server (EKMS) is also available as an upgrade purchase option.

"Dell has shown a real commitment to security and an understanding of how critical standards-based solutions are becoming in the business market," said Steven Sprague, CEO of Wave Systems. "Offering TPMs in all of Dell’s professional computers will have a significant security impact, and bundling in Wave’s EMBASSY Trust Suite software ensures Dell’s customers have everything they need right out of the box to leverage the benefits of trusted computing as the industry’s new standard for security architecture."

Wave’s trusted computing software works with Trusted Computing Group (TCG) industry standard specifications and all TPMs that are currently commercially available. Wave’s EMBASSY software applications are designed to simplify the management and support of the security capabilities of the TPM. The computer industry is now shipping version 1.2 TPM chips, having already shipped tens of millions of PCs embedded with TPM chips.

For more information about Wave’s trusted applications and services, please go to: 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:

Media :
Michael Schultz
Schwartz Communications, Inc.
781-684-0770
wave@schwartz-pr.com
Wave Investor Relations Contact
David Collins, Richard Land
Catalyst Global LLC
212-924-9800
wavx@catalyst-ir.com

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