Wave to Show Dell’s Advanced Security Solutions at GITEX Technology Week 2009 in Dubai

Self-Encrypting Drives, with Wave’s Lifecycle Management Software through Dell, Provide Robust Data Protection; Trusted Platform Modules and Fingerprint Sensors for User and Machine Authentication

Lee, MA & Dubai, United Arab Emirates, (Dell Booth, Hall 3, Stand C3-2) — October 14, 2009 — Wave Systems Corp. (NASDAQ: WAVX; www.wave.com), a Dell security solutions partner, will join the PC OEM at its booth at GITEX Technology Week 2009, October 18-22. Held at the Dubai International Convention and Exhibition Centre, GITEX is one of the world’s largest information technology exhibitions—and the largest of its kind in the region, attracting 120,000 visitors in 2008.

At this year’s event, Wave will demonstrate its advanced lifecycle management tools for self-encrypting hard drives. Self-encrypting drives, or SEDs, provide advanced data protection technology and differ from software-based full disk encryption (FDE) in that encryption takes place in hardware, resulting in more robust security without slowing processing speeds. Because the drives are factory-installed encryption is "always on," so there is less of a concern over whether proprietary information is protected. Deploying SEDs is faster and less costly than software FDE.

Steven Sprague, President and CEO of Wave Systems, commented, "Data breach isn’t a problem confined to one continent—it’s truly a global issue. We believe self-encrypting drives offer organizations throughout the world the single best defense against this growing threat. That’s why we’re proud to announce support for Dell customers in the Middle East during GITEX and to show IT decision makers in the region how integrated, fully managed hardware encryption can protect their customer data, while staying in compliance with the growing list of data protection laws and regulations."

Dell offers self-encrypting drives from Seagate (DriveTrustTM technology) and Samsung, which earlier this year unveiled the first solid-state SED using flash memory, delivering performance, size and weight benefits. Both the Seagate and Samsung SEDs come from Dell bundled with Wave’s client software EMBASSY® Trusted Drive Manager, for pre-boot authentication and initialization of the drive. Optionally, enterprises can select Wave’s EMBASSY® Remote Administration Server (ERAS) for the centralized administration and management of the drives—providing detailed event logs for compliance reporting and enabling IT to perform a remote secure erase, which can eliminate the significant costs associated with "wiping" drives clean.

Establishing Machine & User Authentication with TPM, Fingerprint Sensors
Also during GITEX, Wave will show how IT can strengthen endpoint security by establishing machine and user authentication by leveraging the embedded security available through Dell. Use of this security can also lower help desk costs associated with password management.

Today, virtually every business-class PC from Dell comes with a security chip called a Trusted Platform Module (TPM), which acts as a protected system for securely generating and storing encryption keys. Since the TPM provides advanced security for keys and is invulnerable to both network and software attacks, the TPM chip can authenticate hardware devices. Therefore, an organization that turns on the TPM chips in its PCs can restrict all but "known" PCs to its networks—much in the same way that SIM cards are utilized for mobile phone networks. Wave’s EMBASSY Security Center client application, which comes on Dell’s E family of laptops, provides the "hooks" required to communicate with the TPM hardware, as well as the higher order logic needed to integrate with applications.

The same client software helps enterprises solve their user authentication concerns, offering support for HID iCLASS contactless smart cards and fingerprint sensors—embedded security that helps reduce help desk calls associated with password reset.

Wave CEO Steven Sprague will provide a 30-minute presentation on Wave’s comprehensive support for SEDs, TPMs, fingerprint sensors and contact- and contactless smart cards at the Dell booth (time TBD).

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

This press release may contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 and 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.  Wave assumes no duty to and does not undertake to update forward-looking statements.

All brands are the property of their respective owners.

For more information please contact:

Company:
Wave Systems Corp.
Michael Wheeler
413-243-7026
mwheeler@wave.com