Wave to Showcase Next Generation of Trusted Computing Solutions at Key Industry Tradeshows

Company to Demonstrate Major Innovation in Hardware-based Laptop Data Security at DoD Identity Protection & Management Conference 2007 and Infosecurity Europe 2007

Lee, MA– April 16 , 2007 — Wave Systems Corp. (NASDAQ: WAVX; www.wave.com ) today announced the company will showcase the advanced features of its Trusted Computing solutions at key industry events in the U.S. and UK this month. Representatives of the company will demonstrate Wave’s EMBASSY® Trusted Drive Manager and Remote Administration Server for simplistic enterprise deployment, use and full remote management of the next generation of full disc encrypting laptop hard drives. In addition, Wave will display its EMBASSY Trust Suite of security applications designed to work with Trusted Platform Module chip-enabled PCs. The company will also showcase the virtual smart card approach to leveraging the Trusted Platform Module chip for hardware-based protection of encryption keys.

See Wave Products Live at the Following Events:

Product Demonstrations:

EMBASSY Trusted Drive Manager (ETDM)
Together, Wave Systems and Seagate are enabling a significant step forward in data security for laptops. At the upcoming industry events, Wave will demonstrate its advanced management software delivered on a new generation of Seagate Technology encrypting notebook PC hard drives. Demonstrations will include new versions of the company’s EMBASSY® Security Center including EMBASSY Trusted Drive Manager (ETDM) and the EMBASSY Remote Administration Server (ERAS) software that supports Seagate’s Momentus 5400 (Full Disc Encryption) FDE.2 hard drive, the latest generation of Seagate’s FDE drives based on the company’s DriveTrust™ technology.

Wave’s EMBASSY Security Center with Trusted Drive Manager software can simplify deployment and usage of the Full Disk Encryption (FDE) hard drives by making it easier for system administrators and users to set and control hard drive policies and security settings as well as create and back up passwords. In addition, the software enables administrators of Momentus 5400 FDE.2 hard drives to instantly and easily perform a cryptographic erase of all data so that the drives can be safely redeployed or discarded.

EMBASSY® Trust Suite (ETS)
Attendees will see demonstrations of Wave System’s EMBASSY Trust Suite, a collection of practical, easy-to-use applications that can allow enterprises to enhance PC security by utilizing the TPM security chip. Nearly all business desktop and notebook PCs now ship including the TPM. Wave’s EMBASSY Trust Suite software is designed to work alongside the TPM, combining to perform a variety of business security features for trusted computing.

Deepnet Smart ID™ Virtual Smart Cards
Deepnet Security arms its Smart ID™ virtual smart cards with Wave’s hardware-based security technology designed to protect users’ digital identities. Infosecurity 2007 demonstrations at the Wave Stand will showcase Wave’s technology that enables the encryption keys used for and by Deepnet’s Smart ID virtual smart cards to be automatically generated and protected by the unique standards-based Trusted Platform Module (TPM) hardware security chip. This new level of security supports the advanced functionality of the Smart ID, which can hold users’ personal credentials, such as private encryption keys, passwords, digital certificates and biometrics, inside the protected environment of the internal file system.

Using Wave’s Trusted Computing Group-Enabled Cryptographic Service Provider (CSP), Deepnet can deploy its Smart ID virtual smart card application with hardware-generated and stored cryptographic keys. Traditionally, these keys are vulnerable to attack; one solution is to store the keys in a Trusted Platform Module vault.

For more information about Wave Systems activities at upcoming tradeshows, or to schedule meetings with Company experts, please contact Mike Schultz or Tiffany Archambault at 781-684-0770 or email wavesystems@schwartz-pr.com. For more information about Wave’s products and services, please visit www.wave.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.

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:

Company:
Wave Systems Corp.
Michael Wheeler
413-243-7026
mwheeler@wave.com
Wave Media Contact:
Schwartz Communications
Michael Schultz / Tiffany Archambault
781-684-0770
wave@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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