Wave to Present at The New York Society of Security Analysts’ “Small Cap Innovators” Conference, Thurs., October 5th at 3:50 p.m.

Lee, MA– September 29, 2006 — Wave Systems Corp. (NASDAQ:WAVX www.wave.com) announced today that Wave CFO, Gerard T. Feeney, will be presenting at The New York Society of Security Analysts’ Small Cap Innovators Conference on Thursday, October 5 th , 2006 in New York City. Wave’s presentation is scheduled for 3:50 p.m. EDT and will made available for replay on the NYSSA website ( www.nyssa.org ) a few days following the presentation. The conference will take place in New York City at The New York Society of Security Analysts, 1177 Avenue of the Americas, 2nd Floor (between 45th & 46th Streets)

New York Society of Security Analysts

Since 1937, The New York Society of Security Analysts (NYSSA) has educated and informed investment professionals, providing them with a vibrant forum for the exchange of ideas and information . NYSSA promotes awareness and understanding of securities analysis, investing, and the operation of the securities markets. For more information, visit www.nyssa.org or contact them at (212) 541-4530.

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:

Gerard T. Feeney, CFO
Wave Systems Corp.
info@wave.com
413/243-1600
Wave Investor Relations Contact
David Collins, Ratula Roy
Catalyst Global LLC
212-924-9800
wavx@catalyst-ir.com

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