Wave Introduces Wave BitLocker Manager for Windows 7

Simple-to-Use Central Management for BitLocker Can Reduce Cost and Complexity of Deployment; Automated Activation of Trusted Platform Module Adds Hardware Protection for Keys and Recovery Passwords

Lee, MANovember 4, 2010 — Wave Systems Corp. (NASDAQ:WAVX www.wave.com) announced the availability of Wave® BitLocker® Manager for Windows® 7, a comprehensive set of tools for the central management of Microsoft’s native encryption application. Organizations large and small can initialize, configure and administer a global deployment of BitLocker clients without the cost and complexity associated with custom creation of scripts and Active Directory schema extensions. Access recovery and role-based help desk functions can ease the burden on IT, while detailed activity reports and server logs can be essential for compliance—delivering a secure record of proof that data was protected in the event a PC is lost or stolen.

Interest in data protection has been growing as the incidents of data breach have escalated. Legislation in many jurisdictions now requires tough penalties, as well as public disclosure, when personally identifiable information is mishandled.

That’s led many SMBs and enterprises to explore implementing full disk encryption. With the much-publicized launch of Microsoft Windows 7 operating system (OS), many are examining the full disk encryption feature that comes standard on Ultimate and Enterprise editions of the popular new OS. By providing full-volume encryption, BitLocker ensures that any file saved on a computer’s drive is encrypted automatically.

“As organizations begin their migration to Windows 7, many are considering BitLocker encryption to assist in addressing both regulatory compliance mandates and internal privacy requirements,” commented Eric Ouellet, Vice President, Secure Business Enablement Gartner. “Leveraging the local machine TPM feature is critical to ensuring strong security in these deployments. When combined with third party key managers that offer enhanced capabilities with increased ease of use, organizations are provided with a path to simplify deployment, administration and compliance.”
The adoption curve for Windows 7 is just beginning.  Organizations can benefit from the strong cost and security advantages of turning on BitLocker with Wave’s central management application for configuring and implementing policy controls.

“We believe that encryption of all information on notebooks should be considered mandatory,” commented Steven Sprague, Wave’s President and CEO. “We continue to advocate that self-encrypting hard drives offer the best value.  But buying SEDs for every PC may not be feasible in the short term, so a hybrid approach to encryption is needed. We believe that BitLocker is an excellent choice, and superior to after-market software-based encryption. It brings the added benefit of security from a layer of hardware protection, provided by turning on the TPM security chip standard in all business-class Windows 7 PCs.”

Activate, Deploy and Manage BitLocker
With a simple, easy-to-use console, Wave  BitLocker Manager is designed to give time and resource-strapped IT departments a powerful tool to remotely discover and activate BitLocker client machines, as well as:

Strengthening Encryption with TPM Hardware Security Chip
BitLocker offers great protection when used in conjunction with the Trusted Platform Module, a closed cryptographic security chip that stores keys and credentials (and is a standard component on business-class PCs shipping with Windows 7).  The TPM works with BitLocker to protect data, and ensures that a PC has not been tampered with.  Among the benefits the TPM adds to BitLocker:

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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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Wave Systems Corp.
Michael Wheeler