Wave Partners with SafeNet to Expand Enterprise Security Offerings for Data-at-Rest

Lee, MA — April 8, 2008 — Wave Systems Corp. (NASDAQ: WAVX; www.wave.com ) today announced it has completed a reseller agreement with SafeNet, Inc., a global leader in information security. Wave is now authorized to globally market and distribute SafeNet’s ProtectDrive line of software disk encryption products. Wave may also advise clients on the uses of SafeNet’s products in conjunction with its own software to enable both software- and hardware-based data protection throughout the enterprise.

"SafeNet is pleased to be partnering with Wave Systems on its ProtectDrive solution," said Chris Holland, vice president of product management, SafeNet.  "Wave’s focus on the broad market need for secure data protection, strong authentication and network security will enable companies of all sizes to benefit from our combined solutions. This market offering will allow businesses to address all their data protection needs across the enterprise under one management console provided by Wave."

Wave’s EMBASSY client and server software leverages the security features of the Trusted Platform Module (TPM), an open standards security chip that serves as a tamper-resistant storage vault for user credentials. By leveraging Wave’s software in conjunction with the TPM, enterprises can immediately roll out strong authentication, including machine, biometric and smart card authentication, as well as instituting stronger network policies, key management and data protection. In addition, Wave provides management capabilities for fully encrypting hard drives to enable password setup and recovery, pre-boot authentication, remote deployment and lifecycle management. Wave’s automated compliance auditing features also allows an IT department to quickly verify that all data on a lost or stolen laptop was stored safely on the drive by using Wave’s enterprise server class software.

"SafeNet’s expertise in developing enterprise-class IT security and encryption technology makes them an ideal partner for us as we continue to expand our offerings to meet enterprise data protection needs," said Brian Berger, executive vice president, marketing and sales, Wave Systems Corp. "We look forward to offering customers the ability to manage SafeNet’s ProtectDrive products, as well as trusted hardware security, using Wave’s EMBASSY solutions."

About SafeNet, Inc.
SafeNet is a global leader in information security. Founded 25 years ago, the company provides complete security utilizing its encryption technologies to protect communications, intellectual property and digital identities, and offers a full spectrum of products including hardware, software, and chips. UBS, Nokia, Fujitsu, Hitachi , Bank of America, Adobe, Cisco Systems, Microsoft, Samsung , Texas Instruments, the U.S. Departments of Defense and Homeland Security, the U.S. Internal Revenue Service and scores of other customers entrust their security needs to SafeNet. In 2007, SafeNet was acquired by Vector Capital, a $2 billion private equity firm specializing in the technology sector. For more information, visit www.safenet-inc.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

SafeNet:
Matthew Pugh
443-327-1161
Matt.pugh@safenet-inc.com