South Carolina Department of Revenue Selects Wave To Protect Taxpayer Information

State Protects Business and Personal Tax Data with Self-Encrypting Drives

Lee, MA February 14, 2011 Wave Systems Corp. (NASDAQ:WAVX www.wave.com) today announced that the South Carolina Department of Revenue (SCDOR) has chosen Wave’s EMBASSY® software to manage data security for its fleet of laptops. Agency personnel routinely handle confidential taxpayer data—from property records to social security numbers and tax returns. The state chose self-encrypting drives (SEDs) to ensure this data is always protected, while also giving users significant performance advantages over software encryption.

“The South Carolina Department of Revenue is staying true to its mission of operating in a manner that instills the highest public confidence by selecting what we view as the best encryption solution on the market today,” commented Brian Berger, Wave’s Executive Vice President of Marketing and Sales. “We believe that South Carolina tax payers can feel confident that their state officials have made a good decision in safeguarding their personal data. This deployment of Wave products and SEDs can serve as a blueprint for state agencies looking to upgrade to the strength of hardware encryption.”

The mission of the SCDOR is to impartially administer the revenue and regulatory laws of the state, recommending improvements and providing guidance in fostering compliance with regulatory laws. The agency administers 32 taxes (in addition to alcohol beverage licensing and business registrations), and collects roughly $6.1 billion in annual revenue. The agency is comprised of departments that include Auditing, Collection Services, Human Resources and Legislative Services, among others.

SCDOR ordered both software licenses and accompanying maintenance agreements for Wave’s flagship EMBASSY Remote Administration Server (ERAS). ERAS gives IT the power to turn on each SED in seconds (as opposed to up to 24 hours per PC with software-based encryption), setting security policies and providing detailed event logs to demonstrate that data was fully encrypted if a laptop should become lost or stolen.

The agency was presented with two other encryption options before choosing SEDs with Wave EMBASSY software as the ‘standard build’ on each new employee laptop.  Self-encrypting drives can offer greater security and performance over software encryption, as the heavy processing draw of encryption is moved to the hard drive’s independent processor.

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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.

For more information please contact:

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