Wavexpress to Provide Internet Video Download Service for NBC’s Coverage of the Beijing Olympic Games

Free Service to Allow Media Center Users the Ability to Download Content During NBC’s Coverage of the Beijing Olympics, August 8-24, 2008

New York, NY — June 23, 2008Wavexpress, a provider of broadband media technology and services, majority-owned by Wave Systems Corp. (NASDAQ: WAVX), has been selected by NBC Universal, Inc., to develop, host, and support a service for viewing NBC’s coverage of the 2008 Beijing Olympic Games in Microsoft’s Windows Vista Media Center. The announcement was made today by Perkins Miller, Senior Vice President, Digital Media, NBC Sports and Olympics, and Michael Sprague, President of Wavexpress.

The "NBC Olympics on the Go" service will take advantage of Wavexpress’ TVTonic Internet video service to allow Media Center users to watch channels of NBC’s coverage of Olympic events in up-to-HD quality on the go on their laptop. The free service will enable viewers to watch NBC’s extensive coverage of the Beijing Games on a sport-by-sport basis, with channels designated to match the hundreds of events included in the Games. Users can simply sign up for the channels they are interested in, and the service will automatically synchronize NBC’s video clips as they become available, so viewers will have a fresh slate of Olympic content to watch on their morning commute.

"This service will provide a fantastic viewing experience for Olympic fans with Windows Vista Media Center," said Sprague. "They can choose their favorite sports, from diving to water polo to gymnastics, and extended coverage is automatically synchronized to their PC in the middle of the night. With a laptop, they will get a high-quality video experience to view on the train, the plane, or in the college quad."

"As we prepare to broadcast the Beijing Olympic Games, we are committed to reaching as many viewers as possible," said Miller. "Our partnership with Wavexpress will enable us to reach viewers seeking high-quality in-depth coverage of the wide range of sports that make up the Olympics. The service will especially appeal to fast-paced fans who want to catch up on their favorite sports offline."

Certain terms of the business arrangement between NBC and Wavexpress are subject to final documentation.

About NBC Olympics
NBC, "America’s Olympic Network," owns the exclusive U.S. media rights to the Olympic Games, television’s most powerful property, through 2012, which includes Beijing in 2008, Vancouver in 2010 and London in 2012. From August 8-24, 2008 NBC Universal will present an unprecedented 3,600 hours of coverage, highlighted by NBC in primetime with live swimming, gymnastics and beach volleyball. In August 2004, 203 million viewers watched as the networks of NBC Universal—NBC, MSNBC, CNBC, USA, Bravo, Telemundo, and NBC’s HD affiliates—offered a then record 1,210 hours of Olympic coverage from Athens. For additional information, go to NBCOlympics.com, a year-round destination for fans of Olympic sports, featuring news, Beijing previews, athlete features, expert blogs, photos, Olympic video from the NBC archives and social tools enabling users to build communities around their favorite sports, post comments and blogs.

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.

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.

All brands are the property of their respective owners.

For more information please contact:

NBC Contact:
Adam Freifeld
212-664-6772
Adam.Freifeld@nbcuni.com

Wavexpress Contact:
Schwartz Communications
Justin Drake / Dave Bowker
781-684-0770
wavexpress@schwartz-pr.com

Wave Investor Relations Contact
David Collins, Ratula Roy
Catalyst Global LLC
212-924-9800
wavx@catalyst-ir.com