TVTonic for Windows Vista Now Available, Feeding the Best of Internet Video to Television for Remote Control Surfing

Sleek New Design for Windows Media Center Features Uninterrupted, Full-Screen Viewing On-Demand: Aggregating Hundreds of Channels of the Net’s Best Podcasts and Short Video

New York, NY — April 19, 2007 — Wavexpress, a provider of broadband media technology and services, majority-owned by Wave Systems Corp. (NASDAQ: WAVX), today announced general availability of TVTonic™ version 3.2, a free offering designed specifically to make optimal use of the power of Windows Media Center and Windows Vista. TVTonic brings the wealth of Internet video into an entertaining and reliable living-room television experience and ushers in a new era of quality for PC viewing of Internet video. The result is a real-time, full-screen viewing experience that can rival standard digital television. For premium content providers and advertisers, TVTonic offers a simple and compelling distribution channel for reaching the millions of Media Center and Xbox systems already deployed.

"Whether looking for more high-definition content to feed your HDTV, or turning to the wealth of the Internet’s video and podcast content as a refreshing alternative to mainstream television programming, Microsoft Vista and TVTonic combine to open a whole new world of choice for television viewers," said Michael Sprague, president of Wavexpress. " TVTonic’s Channel Guide contains hundreds of great channels and video podcasts, including a growing number of HD channels. Users can also add subscriptions of their own, turning any RSS 2.0 video podcast feed into a new custom channel."

By taking the hassles out of searching for quality video on the Internet, TVTonic can create a classic television experience where users can simply pick a channel using their remote, sit back and enjoy. The best online videos are available on demand, and TVTonic users don’t have to suffer any longer from clunky streaming video downloads that freeze up or refuse to play at all. TVTonic is designed to cache content chosen by users, right on the user’s hard drive, where it can be viewed in up to full-HD quality.

New Features of TVTonic 3.2

TVTonic 3.2 is designed to leverage the full power of Microsoft Windows Vista and Media Center Edition PCs. It provides an unrivaled Internet television viewing experience to users, such as:

Pricing and Availability
TVTonic is a free offering, available immediately. The new version can be downloaded directly from Online Media in Windows Media Center on Windows Vista Home Premium and Ultimate Editions, from www.tvtonic.com. Tips for using TVTonic with Windows Vista Media Center are also available online at: http://www.tvtonic.com/using/vista.php.

For those without Vista, any PC user can leverage the next generation of Internet video through an Internet Explorer version at www.tvtonic.com. Downloads are available for Windows XP Media Center users as well. Existing TVTonic users can go to www.tvtonic.com/install to upgrade or install TVTonic 3.2.

Partnering with TVTonic
TVTonic is a fully deployed, actively managed and secure video distribution network integrated with Microsoft Media Center. Any RSS 2.0 video feed with enclosures is compatible for distribution through TVTonic. While selective, our editors are always on the lookout for quality content to promote to our viewers.

Advertisers will find TVTonic a compelling and familiar medium. The service is designed for standard broadcast quality interstitial advertisements but can also be enhanced for interactivity and overlays. Detailed and anonymous playback metrics are captured for precise impression reports.

If you are interested in partnering with TVTonic please contact content@tvtonic.com.

About Wavexpress
Wavexpress enables secure broadband distribution of premium digital content. The company delivers full-screen, DVD-quality video, games, music and software. Wavexpress supports a variety of business models, including subscription, pay-per-view, and advertising services. For more information about Wavexpress, visit http://www.wavexpress.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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