Wave Assembles Leading Self-Encrypting Drive Vendors to Demonstrate Integrated Management Solution at RSA Conference ’09

Fujitsu, Samsung, Seagate and Toshiba Demonstrating at Wave Booth; Partners Dell, HID among those Leading Pre-Conference Workshops

Lee, MA & San Francisco, CA — April 9, 2009 — Wave Systems Corp. (NASDAQ: WAVX; www.wave.com ) announced today that it will be demonstrating its comprehensive solution for managing a wide range of embedded hardware security for PCs, including the new self-encrypting hard drives from leading drive vendors at the Wave booth (#1039) during the RSA Conference, April 20-24. Wave offers robust, cross-platform management for all Opal-compliant and commercially available self-encrypting hard drives.

Self-encrypting hard drives have garnered headlines recently with the publication of the Trusted Computing Group’s Opal storage specification—a "blueprint" for ensuring design integrity and interoperability. Many analysts have praised self-encrypting hard drives with pre-boot authentication as an effective means of protecting against data breach, as information stored on a hard drive cannot be accessed without providing proper authentication credentials. The costs of data breach can be substantial, including the loss of trade secrets, marketing plans and competitive information, plus the costs, damage to reputation and potential liability inherent in notifying customers whose personal information may have been exposed from the breach.

"Wave has been diligently working with the leading hard drive vendors in the development of authentication and management solutions for self-encrypting drives, which boast faster performance and stronger security than software solutions with standard hard drives," said Steven Sprague, president and CEO of Wave Systems. "Security is improved because encryption is ‘always on’ and because encryption keys and access credentials are generated and stored within the drive itself."

Wave helps organizations increase security, reduce costs and simplify their approach to data protection by offering a suite of client and server software that works with the leading self-encrypting hard drives and other forms of endpoint security hardware. Wave’s client software, Trusted Drive Manager, configures pre-boot authentication to the drives, access control settings, as well as enrolling administrators and users. Available separately, Wave’s EMBASSY® Remote Administration Server enables IT administrators to remotely turn on each drive in seconds, provides remote recovery of credentials and captures detailed event logs for compliance purposes to prove that the security settings were in place when a loss or theft occurs. Wave will also be featured at Fujitsu’s booth (#2616).

Self-encrypting drives are not the only form of endpoint security that Wave software supports. Wave’s EMBASSY® client software manages the security functions on Dell’s new E- family of business laptop computers, which include Trusted Platform Modules (TPMs), smart card readers, fingerprint readers and contactless smart card readers, which began shipping in August last year. Dell and fellow E-series partner HID, a developer of contactless smart cards, will be at the Wave booth demonstrating E-series security. Wave will also conduct demonstrations at HID’s booth (#2317).

Partners Demonstrate real-World applications of Factory-Installed Security

What:     Interactive Session for Developers: "The Next Authentication Token"
Where:   RSA Conference 2009 — Hall E, Orange Room132, Moscone Center North — Moscone Center — San Francisco, Calif.
When:    Monday, April 20, 9 a.m.- 12:00 p.m. PST
Who:      George Kastrinakis, Director Product Management, Wave Systems Corp.; Joseph A. McGinley, CISSP, CISM, PMP, Manager Global Software Architecture, Diebold; David Corcoran, President, TrustBearer Labs.

Presentation Details:
The Trusted Platform Module (TPM), a standard feature on nearly all business laptops and housed on an estimated 300 million PCs worldwide, offers organizations a low-cost and secure way to prevent data loss, manage passwords and determine exactly who is on its network. The TPM performs these functions by generating and protecting digital keys, passwords and digital certificates within the confines of tamper-resistant hardware. But unlike smart cards or traditional tokens, the TPM is unique in that it supports both user and machine authentication in one token—a simple, yet revolutionary concept, ensuring only authorized users and authorized PCs are on the network. Developers will learn how they can leverage TPMs they already have in-house to add much-needed multi-factor and strong authentication for enterprises grappling with compliance regulations amidst shrinking IT budgets. Experts will detail TPM integrations, discuss why they chose to use TPMs and provide specific use cases and "lessons learned" for those interested in using this industry-standard security token.

What:     Interactive Session: "Encryption 2.0: Encrypting Hard Drives Have Arrived"
Where:   RSA Conference 2009 — Hall E, Orange Room 132– Moscone Center — San Francisco, Calif.
When:    Monday, April 20, 1-4 p.m. PST Who:     Craig Durr, Senior Product Manager, Dell; Brian Beard, Marketing Manager, Samsung Semiconductor Inc.; Debra Spitler, Vice President, HID Connect; Scott Stephen, IT Global Client/Server Engineering Project Manager Seagate.

Presentation Details:
Industry leaders will discuss their product strategies and roadmaps pertaining to the debut of factory-installed, self-encrypting hard drives. Self-encrypting hard drives with advanced user authentication provide the most secure and uncomplicated data-at-rest protection anywhere. Session attendees will hear firsthand from companies who have rolled out these solutions, why they chose self-encrypting hard drives, how they manage them and what benefits they have realized. 

The RSA Conference, now in its eighteenth year, brings together the world’s largest community of information security professionals. The event will be held at the Moscone Center in San Francisco. More details on the conference can be found at www.rsaconference.com/2009/us/index.htm. Details on the pre-conference Trusted Computing Group hands-on lab sessions can be found at: https://www.trustedcomputinggroup.org/news/press/RSA_release_final_april_6_09_3_.pdf

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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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Michael Wheeler