Wave to Demonstrate Complete Enterprise Management of Trusted Platforms for the Department of Defense at C4IST Exhibition

Wave Systems Corp. (NASDAQ:WAVX), today announced it will conduct demonstrations of its EMBASSY™ line of interoperable software for managing trusted platforms throughout the enterprise—designed to significantly strengthen the protection of sensitive information assets on enterprise PCs. The C4IST Exhibition runs from October 2 - 4, at the Ft. Huachuca Army Base in Arizona. At C4IST, Wave will show how its EMBASSY software can leverage the security potential of the Trusted Platform Module (TPM), an open standards security chip on the motherboard of the PC that serves as a tamper-resistant storage vault for user credentials. In addition to showing its client-side software, Wave will demonstrate its EMBASSY Remote Administration Server (ERAS), which enables IT administrators to turn on, establish ownership and maintain control over all of the TPMs in the organization. The Department of Defense (DoD) has focused on the role of the TPM chip in protecting critical information assets. In July the DoD issued a memo mandating encryption of all at-rest data on mobile devices and requiring that all new computer assets—servers, desktops, laptops and PDAs—include this security chip. Using the TPM allows organizations to bind critical security functions, including data encryption to platform hardware, creating a new level of security. "The TPM is an essential component in complying with Defense Department-wide security requirements,” said Steven Sprague, CEO at Wave Systems. "With TPM technology readily available, organizations now need to establish proper administrative ownership and lifecycle management of their TPM-equipped PCs. Wave is committed to providing the tools to make managing and using the TPM infrastructure a seamless and integral part of their IT process.” MANAGEMENT OF TRUSTED DRIVES Wave will also be demonstrating Wave’s Trusted Drive Manager and ERAS, software for managing the Momentus® 5400 FDE.2 drive from Seagate Technology. The EMBASSY Security Center with Trusted Drive Manager software simplifies deployment and usage of FDE hard drives, making it easier for system administrators and users to set and control hard drive policies and security settings, as well as to create and backup passwords. In addition, the software enables administrators of the FDE.2 hard drives to instantly and easily perform a cryptographic erase of all data so that the drives can be safely redeployed or discarded. Wave’s EMBASSY Remote Administration Server (ERAS) allows administrators to remotely manage the security settings of their laptop FDE drives. ERAS provides robust "zero touch” administration and password management for drives. ERAS also provides audit logs t to help ensure and document compliance with the many data protection regulations and policies pertaining to lost or stolen laptops. To schedule meetings with Wave Systems’ experts at the C4I Systems Technology Exhibition, please contact Dave Bowker or Tiffany Archambault at 781-684-0770 or email wave@schwartz-pr.com. For more information about Wave’s products and services, please visit www.wave.com. About the C4I Systems Technology Exhibition Sponsored by the Southern Arizona Chapter Armed Forces Communications-Electronics Association (AFCEA), this annual event provides an ethical forum where government and industry can come together to demonstrate and discuss the latest C4I technologies, products and services. All proceeds, after expenses, benefit the AFCEA Scholarship and Grant program to assist local students and schools. This exhibition is open to all government personnel as well as the general public. More information on C4IST is available at http://www.afceac4ist.com/. About Wave Systems Corp. Wave provides software to help solve critical enterprise PC security challenges such as strong authentication, data protection, network access control and the management of these enterprise functions. Wave is a pioneer in hardware-based PC security and a founding member of the Trusted Computing Group (TCG), a consortium of nearly 140 PC industry leaders 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). TPMs are included on tens of millions of PCs and are standard equipment on many enterprise-class PCs shipping today. Using TPMs and Wave software, enterprises can substantially and cost-effectively strengthen their current security solutions. For more information about Wave and its solutions, visit http://www.wave.com 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. 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