Wave Signs Distribution Agreement with Ingram Micro Europe

Pan European Presence of Ingram Micro to Assist in Deployment of Wave Enterprise Software

Lee, MA — October 25, 2006 — Wave Systems Corp. (NASDAQ: WAVX) has finalized a distribution agreement with Ingram Micro Europe, a division of the global technology distributor Ingram Micro Inc. (NYSE: IM). The agreement, which does not include minimum purchase or distribution requirements, appoints Ingram Micro Europe as a non-exclusive distributor of Wave’s products in Europe, the Middle East and Africa (EMEA).

As a result of this relationship, Wave expects businesses throughout these territories to have greater access to its EMBASSY® line of enterprise security software, the business security features of which include policy management, data protection, password management and strong pre-boot authentication. Benefits of this advanced functionality include mitigating password, data and personal information theft and more.

"Wave Systems is thrilled to collaborate with Ingram Micro Europe," said Bruno LeConte, Vice President, EMEA, for Wave Systems. "We expect the pan European presence of Ingram Micro to help accelerate the deployment of Wave’s enterprise solutions in these territories."

Wave’s EMBASSY Trust Suite (ETS) leverages a unique, standards-based hardware security chip called a Trusted Platform Module (TPM). The computer industry has shipped tens of millions of PCs embedded with TPMs.

About Ingram Micro Inc.
Ingram Micro Inc. is the world’s largest technology distributor. As a vital link in the technology value chain, Ingram Micro creates sales and profitability opportunities for vendors and resellers through unique marketing programs, logistics services, technical support, financial services and product aggregation and distribution. The company serves 100 countries and is the only global IT distributor with operations in Asia. Ranked 72 on the Fortune 500, Ingram Micro generated $28.8 billion in revenues for fiscal year 2005.

Visit www.ingrammicro.com or www.ingrammicro-europe.com

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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.

Safe Harbor for Forward Looking Statements

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:

WidePoint Corporation IR Contact :
Hawk Associates
Frank Hawkins or Julie Marshall,
305-451-1888
info@hawkassociates.com
Wave Media Contact:
Schwartz Communications
Michael Schultz /Katie Potter
781-684-0770
wavesystems@schwartz-pr.com
Wave Investor Relations Contact
David Collins, Ratula Roy
Catalyst Global LLC
212-924-9800
wavx@catalyst-ir.com

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