Wave Chief Scientist Robert Thibadeau to Discuss Hardware Encryption & the Changing Regulatory Environment at SNIA Storage Developer Conference

Thibadeau to Discuss Central Management Required for Safe Harbor Compliance

Lee, MA September 20, 2010 — Wave Systems Corp. (NASDAQ:WAVX www.wave.com) today announced that Chief Scientist Robert Thibadeau, PhD, will speak at the Storage Networking Industry Association’s 2010 Storage Developer Conference (September 20-23, 2010 in Santa Clara, CA). Dr. Thibadeau will explore the latest encryption solutions and best practices from the unique perspective of having pioneered the technology and contributed heavily in the creation of supporting industry standards. His talk will cover encryption best practices, central management and the steps required to prove encryption was in place and turned on at the time of a laptop loss.

Lawmakers worldwide have created new legal frameworks for data security, spurred by endless reports of security breaches and data loss. Regulations bring substantial financial penalties and public disclosure; however, US law now provides a "Safe Harbor" against notifying individuals if encryption was in place at the time of loss. This has driven widespread adoption of encryption—and dangerous misconceptions that implementation provides desired "Safe Harbor" from laws and regulations. NIST 800-111 stipulates, "Organizations should use centralized management for all deployments of storage encryption."

"Properly encrypted customer, patient, financial and other sensitive data is notconsidered to be compromised when a laptop is lost or stolen. However, NIST 800-111 notes that organizations should use centralized management for all deployments of storage encryption," said Dr. Thibadeau. "A centrally-managed deployment of self-encrypting drives offers the best approach to Safe Harbor compliance, circumventing the problem that most software-based encryption lacks: controls to prevent end users from disabling their encryption—a real threat given that users are often frustrated by the degradation of performance PCs typically suffer with software encryption."

WHAT:    Dr. Thibadeau to present, "Self-Encrypting Hard and SSD Drive Revolution: Managing the Data at Rest Solution"

WHEN:    Thursday, September 23, 2010 — 10:30 to 11:20 a.m.

WHERE:   2010 Storage Developer Conference, Hyatt Regency Hotel, Santa Clara, CA

The session will review the latest encryption solutions and best practices — with special emphasis on SEDs in the context of achieving compliance, along with central management. Attendees will come away with a better understanding of how to implement and manage encryption, from policy to audit trails for proof of compliance.

Session attendees should:

As Senior Vice President and Chief Scientist at Wave Systems, Dr. Thibadeau is a frequent speaker sharing expertise from his industry leadership—driving advancements in security, encryption and storage technologies. Prior to joining Wave, he was Chief Technologist at Seagate Technology, LLC, and developed the drives now known as self-encrypting drives. Thibadeau was also the Chair of the Storage Workgroup in the Trusted Computing Group, and a founding director of the Robotics Institute at Carnegie Mellon University.

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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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Contact:

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