TVTonic Expands High-Definition Offerings
Through Content License with ON Networks

Five of New Media Company’s HD TV Shows to be Featured in TVTonic’s Channel Guide

New York, NY — February 12, 2008Wavexpress, a provider of broadband media technology and services, majority-owned by Wave Systems Corp. (NASDAQ: WAVX), today announced a new content license with ON Networks, a leading new media company. The content license will allow Wavexpress to feature five of ON Networks’ entertaining and engaging TV shows in high-definition (HD) in its free Internet television application, TVTonic.

The new channels being added to TVTonic’s lineup include:

"Our goal at ON Networks is to provide original and entertaining programming to viewers through the most popular platforms available," said Kip McClanahan, CEO of ON Networks. "TVTonic provides a great venue for our wide array of content because viewers can watch it on their desktop, laptop or on the biggest screen in their house. Since all of our content is shot in HD, it looks beautiful whether it’s viewed through TVTonic on a computer or on a living room TV."

TVTonic, a free offering available with any PC running Windows Media Center, and for online access by any PC user at www.tvtonic.com, is designed to create a television experience out of Internet video by taking the hassle out of searching for quality video on the Internet and allowing the viewer to simply see what’s on, pick a channel, then sit back and watch. TVTonic manages a viewer’s subscriptions much like a digital video recorder (DVR) for the Internet. Viewers select the channels they want to record and TVTonic caches the shows on the hard drive, ensuring that the content is ready for viewing in a seamless, up-to-HD format that remains high quality in full-screen mode. TVTonic is also designed to be navigated with a remote control, either on a consumer’s PC or living room TV, for easy surfing across channels.

"The future of Internet television lies in providing the highest quality video programming, both in terms of resolution and content," said Michael Sprague, President of Wavexpress. "Through our content license with ON Networks, we will be able to expand TVTonic’s HD offerings while also providing five new channels of entertaining programming to our users."

About ON Networks, Inc.
ON Networks is changing the way traditional TV programs are created, distributed, consumed and monetized. It’s a new media company delivering original, high-definition shows on-demand across multiple digital platforms, including the Internet, digital cable, IPTV, and various mobile and gaming devices. Offering lifestyle programs covering a variety of topics, ON’s weekly shows satisfy the growing demand for relevant, smart and entertaining programming that is available when, where and how viewers want to watch it. ON Networks is a privately-held company backed by Accel Partners, Austin Ventures and AT&T. See tomorrow’s television programming today at www.onnetworks.com.

About Wavexpress
Wavexpress enables secure broadband distribution of premium digital content. The company delivers full-screen video in near HD-quality, as well as games, music and software. Wavexpress supports a variety of business models, including subscription, pay-per-view, and advertising services. For more information about Wavexpress, or to learn about its Internet television application TVTonic, please visit www.tvtonic.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 more information please contact:

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