Wave Systems Showcases Interoperability of Trusted Platform Module Capabilities with Juniper Networks Unified Access Control Solution at Interop

Wave Software Complements Juniper Networks UAC with Hardware-based Machine Authentication and Platform Integrity

Lee, MA and Las Vegas (Interop Las Vegas) — May 21, 2007 — Wave Systems Corp. (NASDAQ: WAVX; www.wave.com) today announced that the company will demonstrate standards-based interoperability between its EMBASSY® software and the Juniper Networks Unified Access Control (UAC) solution at Interop Las Vegas, May 20-25, 2007. Wave is showing Trusted Platform Module-based platform integrity with its EMBASSY software in the Trusted Computing Group’s booth #211. 

Wave’s EMBASSY software, combined with the industry-standard Trusted Platform Module hardware security chip, complements the Juniper Networks UAC solution by offering an additional layer of machine identity and integrity checks in conjunction with the UAC agent. The interoperable Juniper Networks and Wave solution can provide enhanced platform integrity through the tamper-resistant storage of client-side measurement data for applications and secure transmission and delivery of that measurement data to the Infranet Controller. This data may then be used by the Infranet Controller in the enforcement of network access control policies.

"It’s great to see the industry continue to move toward trusted computing solutions," said Karthik Krishnan, senior product line manager at Juniper Networks. "Standards-based interoperability between the Juniper Networks UAC solution and Wave’s EMBASSY software provides customers with flexibility and choice in the technologies available to them for developing and implementing their network access control architecture."

"We are very pleased to work with Juniper to extend their UAC solution to enjoy the full security capabilities of the Trusted Platform Module," said Brian Berger, executive vice president of marketing and sales at Wave Systems. "With this integration, customers will benefit from a standards-based implementation that will enhance the security of their enterprise."

See the Demonstrations this Week at Interop
This week at the Interop Las Vegas Conference, Wave is showing Trusted Platform Module-based platform integrity with its EMBASSY Endpoint Enforcer in the Trusted Computing Group’s booth #211. The demonstration will include the Juniper Unified Access Control (UAC) solution, which combines user identity and device security state information with network location information, to create a unique access control policy for each user. Representatives from Wave will demonstrate: 

"The value of this demo is to verify that the client machine is capable of protecting sensitive corporate data with an encrypted hard drive before any data is transferred to the laptop," said Craig Werhan, product manager at Wave Systems.

Wave Systems also offers the EMBASSY® Trust Suite (ETS), the EMBASSY® Key Management Server (EKMS), the EMBASSY® Authentication Server (EAS), and the EMBASSY® Remote Administration Server (ERAS) which are designed to deliver improved trusted computing features for enterprise and government markets. These features include network policy management, remote administration, data protection, and strong authentication using biometrics, smart cards and TPMs.

For more information about Wave’s products and services, please visit www.wave.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.

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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 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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