Wave to Showcase Advanced Management Capabilities for Self-Encrypting Drives in Dell, HP and Lenovo Laptops during RSA Conference 2010

Wave Executive Robert Thibadeau to Participate in Two Panels Addressing Hardware Encryption; Wave and Seagate to Host Trusted Computing Group Sandbox Session

Lee, MA & San Francisco, CA (RSA Conference, Booth #1849) Feb. 25, 2010 Wave Systems Corp. (NASDAQ: WAVX; www.wave.com) today announced that it will demonstrate its industry-leading management solution for self-encrypting drives on laptops from different OEMs.  A second demonstration will show how the widely available TPM security chip can safeguard the private keys associated with digital certificates—often vulnerable to common shareware—protecting networks from unauthorized access.  In addition to the demonstrations, Wave executives will participate on two panels focusing on hardware encryption and help lead the Trusted Computing Group’s Sandbox session at RSA Conference 2010 (Moscone Center in San Francisco, March 1-5.)

Demonstration:  Managing Multiple Self-Encrypting Drives in a Mixed Environment

On the show floor, Wave will demonstrate its client and server tools for managing self-encrypting drives—where encryption occurs in the drive itself. Self-encrypting drives offer increased security and better performance than existing software-based solutions. Drive encryption is “always on,” a feature that is particularly important in proving data on the drive is protected at all times. Many new data protection laws mandate this burden of proof in order to avoid notification penalties.

The powerful security of self-encrypting drives requires an equally powerful management infrastructure.

What: Wave’s EMBASSY® Remote Administration Server (ERAS) deploys, configures and remotely manages self-encrypting drives from Dell, HP and Lenovo. Seagate plans to demonstrate two self-encrypting drives, including one model that is compliant with the Trusted Computing Group’s Opal standard and a second that is expected to receive FIPS 140-2 certification, the government security standard used to accredit cryptographic modules. Fully managed, self-encrypting drives help organizations achieve compliance by protecting data in laptops and desktops—as required by law throughout the world.

Demonstration:  Private Keys Protected by the TPM

What: Wave will demonstrate how vulnerable private keys (used for VPN authentication, for instance) are on most PCs.  Keys can be exported in minutes, seriously compromising data security. But by turning on and managing the Trusted Platform Module (TPM) cryptographic security chip (managed by Wave’s client and server software) those keys can be protected in hardware, making a network attack far less likely.

Seagate Joins Wave in Hosting Trusted Computing Group’s Sandbox Event

On Monday at 1:00 p.m., Brian Berger, Executive Vice President of Marketing and Sales, along with Aidan Hebert, Senior Product Manager will join representatives from Seagate to discuss the benefits of deploying fully managed self-encrypting drives at the Trusted Computing Group’s “Sandbox” Session at the Esplanade, Orange Room 304/306. For more details, see the Trusted Computing Group press release: http://www.trustedcomputinggroup.org/media_room/news/110

Dr. Robert Thibadeau to Discuss Implications of Hardware Encryption on Legal issues, Forensics

Dr. Robert Thibadeau, Chief Scientist for Wave Systems, will participate in a panel that delves into legal issues and encryption surrounding the new state and federal data breach laws:

     Panel: “Untangling the Legal and Technology Web of the State and Federal Data Breach Laws”
     What: Legal and encryption experts will sort out the inconsistencies and complexities in the data breach laws that result in uncertainties for global businesses. 
     Where: Green Room 132
     When: Thursday, March 4, 10:40 a.m.

The following day Dr. Thibadeau will join fellow panelists to discuss the implications of advances in data security on forensic evidence collection:

     Panel: “Digital Forensics vs. Security & Encryption”
     What: The panel will discuss current devices, legal challenges and capture solutions used in the field.
     Where: Green Room 132
     When:  Friday, March 5, 9:00 a.m.

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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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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.

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For more information please contact:

Wave Systems Corp.
Michael Wheeler