Wave to Host Q1 Webcast/Conference Call Wednesday, May 10th at 4:30 P.M. EST

Lee, MA — May 3, 2006 — Wave Systems Corp. (NASDAQ: WAVX — www.wave.com) announced today that on Wednesday, May 10th at 4:30 P.M. EDT it will host a webcast/conference call reviewing recent corporate and industry progress as well as Wave’s results for the first quarter ended March 31, 2006. Wave’s results will be issued after the market’s close that day.

WEBCAST/REPLAY: To access the webcast and the replay, please go to http://www.wave.com. The archived version of the webcast will be available for 30 days. (Windows Media Player required.)

TELEPHONE: via 212-346-6501 or 415-247-8511. Please call five minutes in advance.

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.

For more information please contact:

Wave Contact:
Gerard T. Feeney, CFO
Wave Systems Corp.
Wave Investor Relations Contact
David Collins, Richard Land
Catalyst Global LLC

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