ICT Economic Impact Brings Wave Systems Corp. Innovative IT-Security Technology to German Enterprise Customers

Helping to reduce the cost and complexity out of data & network security

Frankfurt, Germany — May 24, 2006 — ICT Economic Impact is very excited to announce that they have signed a sales representative agreement with Wave Systems Corp. (NASDAQ: WAVX).”Wave Systems is an important player in the Trusted Computing market and Trusted Computing is starting to revolutionize the market of information systems security,” says Alexander W. Koehler, CEO of ICT Economic Impact.

ICT Economic Impact represents Wave Systems in Germany, Austria, Switzerland and Eastern Europe. The charter of this cooperation is to educate IT management of the Fortune 500 customers on benefits of Trusted Computing Group TM (TCG) based technology and to provide support in implementing this technology.

Wave Systems EMBASSY® Key Management Server (EKMS) can play an important role in many Trusted Computing implementations and can reduce many of the costs and complexities associated with data & network security. Today, many computer vendors offer TPM equipped PC’s to clients to help IT management take advantage of some of the benefits of modern information systems security. The TPM is an embedded security subsystem that offers a number of security benefits such as prevention of software attacks, protection of data, communications security and authentication. The TPM is often offered at very little or even at no extra cost in many current desktops and notebooks sold by major computer vendors.

Wave also offers EMBASSY® Trust Suite (ETS) and the EMBASSY® Authentication Server (EAS), which are designed to deliver improved trusted computing features in the enterprise and government markets. These features include network policy management, data protection, and strong authentication using biometrics, smart cards, and TPMs. “IT manager’s would be wise to ask PC vendors for TPM equipped PCs now. The largest TPM based PC population is in the enterprise environment. The sooner the enterprise switches to modern TCG™ based solutions, the sooner these organizations will have the opportunity to take advantage of the efficiencies and operations offered by this technology,” says Steven Sprague, CEO, Wave Systems.

Wave Systems system software is an effective product to manage TPM secured clients, users, application and data. It is TPM vendor independent, which means that IT management can currently buy TPM equipped PCs from any PC vendor with any TPM and all of them can be managed with Wave Systems software.

“Wave is highly regarded in all aspects of Trusted Computing technology, as contributor to the TCG™, a security system designer, in terms of intellectual property in security technology as well as its vision on how security will look in the near term and long term future,” says Achim Klein from ICT Economic Impact.

About ICT Economic Impact Ltd.
ICT Economic Impact is a leading Virtual System Integrator for client security and systems management, especially Automated Identity and Client Management. It develops requirement specifications for enterprise customers, implements and deploys TCG™ based solutions. ICT Economic Impact together with its partners is able to answer even the most demanding IT-security implementations, including worldwide support up to 365/7/24. ICT Economic Impact is – besides other related engagements – member of the TCG™ and Intel ® Product Integrator. For further information please visit www.ict-economic-impact.com.

About Trusted Computing Group™
The Trusted Computing Group™ (TCG) is a not-for-profit organization formed to develop, define, and promote open standards for hardware-enabled trusted computing and security technologies, including hardware building blocks and software interfaces, across multiple platforms, peripherals, and devices. TCG™ specifications will enable more secure computing environments without compromising functional integrity, privacy, or individual rights. The primary goal is to help users protect their information assets (data, passwords, keys, etc.) from compromise due to external software attack and physical theft.

TCG™ has adopted the specifications of TCPA and will both enhance these specifications and extend the specifications across multiple platforms such as servers, PDA’s, and digital phones. In addition, TCG™ will create TCG™ software interface specifications to enable broad industry adoption. For further information please visit www.trustedcomputinggroup.org.

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.

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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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Wave Media Contact:
Schwartz Communications
Mike Schultz/Katie Potter


Wave Investor Relations Contact
David Collins, Richard Land
Catalyst Global LLC

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