Efficient Forms Deploys eSign Systems’ eSignature and eVault Solutions on Additional Platforms

Lee, MA — November 28, 2006 — eSign Systems, a division of Wave Systems Corp. (Nasdaq: WAVX — www.wave.com), today announced the launch of electronic signature and electronic vault enhancements to Efficient Forms’ industry leading electronic contracting and online insurance application solutions. The new Efficient Contracting Solution and enhanced Efficient Application Solution are available immediately.

Both Efficient Forms solutions now integrate Wave’s eSign Transaction Management Suite (eTMS) into their core functionality, enabling users to create, sign, store, access and manage the lifecycle of legally binding signature processes and electronic records. eTMS provides Efficient Forms the functionality designed to meet the technical and legal requirements of transactions governed by the Electronic Signatures in the Global and National Commerce Act (ESIGN), the Uniform Electronic Transactions Act (UETA) and Revised Article 9 of the UCC, and the industry standards body Standards and Procedures for Electronic Records and Signatures (SPeRS).

"The combined benefits of the on-line agent interview with electronic file storage make it a valuable management tool. Additionally, the more carriers that incorporate portals for electronic submission directly impacts our efficiency by limiting non-revenue producing activities," noted John P. Billiter, Director of Operations, Capital Marketing Group, Inc., a national marketing organization based in Raleigh, NC.

The integration expands upon Efficient Forms’ and eSign’s relationship which has spanned more than a year and has included the integration of eTMS with Efficient Forms’ iForms Product Suite ™ .

Efficient Contracting is a new product from Efficient Forms that provides financial service professionals with a single, web-based interview that populates multiple insurance carrier contracts. As a result, the solution is designed to eliminate redundant questions while allowing the professional to contract with multiple carriers in minutes. Efficient Contracting currently services the websites of more than 365 insurance distributors, wholesalers, broker/dealers and carriers.

Designed to eliminate the inefficiencies of the paper-based account opening and maintenance processes in the financial services industry, Efficient Application uses a dynamic, logic-based web interview that asks questions specific to an applicant or customer—collecting only the information required for the transaction. The data is then used to populate the appropriate forms — allowing the customer to complete the transaction in real-time. Prior to integrating eTMS’ electronic signature functionality, users of the application had to go through a time consuming process of faxing contracts with physical signatures.

"By incorporating Wave’s eTMS technology, we have enhanced our solutions and are now able to vault a required document upon obtaining an eSignature. The vault is an important component of our solutions because it adds another level of security to our technology, and this is a key selling point when working with top-tier insurance carriers, broker/dealers and wholesalers," said David J. Kenney, CEO of Efficient Forms, LLC.

"Our complementary products provide customers with a powerful set of solutions designed to enable the rapid automation of business processes that would traditionally be paper-based," commented Scott Schrader, president of Wave’s eSign Systems Group. "By deploying these solutions, we expect our customers should experience an attractive ROI from savings and efficiencies associated with the elimination of paper process expenses such as transportation, copying, and storage."

Under the contract between Wave and Efficient Forms, license and transaction fees payable to Wave are contingent upon the volume of usage of Wave’s products by Efficient Forms’ customers.

About Efficient Forms, LLC
Efficient Forms, LLC (Littleton, Colorado) specializes in business form and data collection automation software. With over 300 customers in the Insurance, Financial Services, Human Resources, Compliance industries, Efficient Forms is experiencing explosive growth with a new approach to data collection, forms completion and process workflow. Efficient Forms Internet-based product suite provides businesses from all industries efficient, cost-effective solutions that quickly automate their data capture and forms workflow processes. For more information, please visit www.efficientforms.com.

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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For further information about the products and their availability please contact the marketing contacts listed below :

Wave Media Contact:
Schwartz Communications, Inc.
Mike Schultz/Katie Potter
781-684-0770
wavesystems@schwartz-pr.com

Wave’s eSign Contact
Kelly Purcell
Wave eSign Systems
602-840-1199l
kpurcell@esignsystems.com

Wave Investor Relations Contact
David Collins
Catalyst Global LLC
212-924-9800
wavx@catalyst-ir.com

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