Wave to Present at TechAmerica "AeA Classic" Financial Conference November 3rd in San Diego

Lee, MA & San Diego, CA — October 28, 2009 — Wave Systems Corp. (NASDAQ: WAVX; www.wave.com) today announced that Steven K. Sprague, President and CEO, and Gerard T. Feeney, Chief Financial Officer, will present at the TechAmerica "AeA" Financial Conference in San Diego. The presentations will take place on Tuesday, Nov. 3 at the Marriott San Diego Hotel & Marina (adjacent to the San Diego Convention Center) beginning at 8:30 a.m.

TechAmerica was formed by the merger of the American Electronics Association, the Cyber Security Industry Alliance (CSIA), the Information Technology Association of America (ITAA) and the Government Electronics & Information Technology Association (GEIA). For almost 40 years, the TechAmerica "AeA Classic" has been a premier venue for public technology companies to meet face-to-face with the investment community as well as network with high-technology peers. For more information: http://www.techamerica.org/classic

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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.

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:

Gerard T. Feeney
CFO
Wave Systems Corp.
413-243-1600
info@wave.com