Hitachi GST and Wave Offer Enterprises Comprehensive Solution for Advanced Data Protection

Hitachi Opal Self-Encrypting Drives and Wave Management Software are Available for Purchase Separately through Select Resellers and Distributors

Lee, MA June 8, 2010 — Wave Systems Corp. (NASDAQ:WAVX www.wave.com) announced today that the current production version of its EMBASSY® security software is compatible with Hitachi Global Storage Technologies’ (Hitachi GST) Travelstar™ self-encrypting hard drives (SEDs) available through Hitachi’s worldwide distribution channels this month. The drives (specific models listed below) are some of the first commercially available self-encrypting hard drives based on Opal, the Trusted Computing Group’s storage specification that defines a set of drive security features. Wave EMBASSY management software (available separately from Wave’s channel partners, resellers and direct from Wave) provides IT managers with robust capabilities for deploying, administering and managing Hitachi’s SEDs.

Due to their portability and value, laptops are highly susceptible to theft—and today laptop theft is a leading cause of data breach. Beyond the impact of a breach to an organization’s reputation and credibility, such occurrences often result in legal liability with steep penalties. A data breach can easily cost up to $200 per each compromised record, factoring in the expense of legal counsel, public relations and notifying customers.

To help combat this issue, Hitachi GST is providing Opal TCG standards-based hardware encryption on certain models of its Travelstar mobile hard drives. Unlike software encryption, which does encryption in the main CPU of the PC, Hitachi’s Travelstar SEDs encrypt data at interface speed. When read back, the drive decrypts the data so that it can be understood by the system. And since the hard drive is doing the encryption work, there is no impact on system performance. The drive is always automatically encrypting data, so when the access control settings are enabled on the drive, IT managers can be assured that data is protected.

“Hitachi is a leader in data protection. In fact, we’ve been providing self-encryption as an optional feature on our popular Travelstar mobile hard drives for four generations,” said Brendan Collins, Vice President, Product Marketing, Hitachi GST. “Our collaboration with Wave helps enable IT managers to easily safeguard a pool of notebooks by providing them with easy-to-use client software with integrated drive management and security capabilities.”

Remote Administration, Detailed Event Logs Part of the Value Wave Brings
Wave’s Trusted Drive Manager client software enables pre-boot authentication, the enrollment of drive administrators and users, and the ability to backup drive credentials. For centralized IT management of the self-encrypting drives, Wave’s EMBASSY® Remote Administration Server (ERAS) is designed to let IT managers remotely turn on each drive in seconds and to provide detailed event logs for compliance assertions to prove that the security settings were in place if a loss or theft occurs. Because self-encrypting drives with Wave’s software are easy to set up and easy to use, there is virtually no significant learning curve for the end user or IT support staff.

“We applaud Hitachi’s efforts to make Opal-based drives available  to the market, giving organizations additional self-encrypting drive choices as more enterprises look to deploy hardware-based encryption,” said Steven Sprague, Wave’s President and CEO. “With self-encrypting drives, users can gain the peace of mind in knowing that whatever’s on the drive—trade secrets, intellectual property or confidential employee information—is protected.”

Hitachi SED Travelstar drive models include:

Capacity                    Model Number                / P/N
500GB                        HTS725050A9A365            0A79105
320GB                        HTS725032A9A365            0A79103
250GB                        HTS725025A9A365            0A79102
160GB                        HTS725016A9A365            0A79101

Please visit the Hitachi GST website for a list of authorized resellers and distributors.

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

Except for the statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Such factors include general economic and business conditions, the ability to fund operations, the ability to forge partnerships required for deployment, changes in consumer and corporate buying habits, chip development and production, the rapid pace of change in the technology industry and other factors over which Wave Systems Corp. has little or no control.  Wave Systems assumes no obligation to publicly update or revise any forward-looking statements.

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For more information please contact:

Wave Systems Corp
Michael Wheeler
413-243-7026
mwheeler@wavesys.com

Hitachi GST
Erin Hartin
303-284-7790
Erin.Hartin@HitachiGST.com