Lee, MA
November 1, 2011

Wave Systems Corp. (NASDAQ:WAVX www.wave.com) today announced a strategic distribution agreement with Ingram Micro Inc. (NYSE:IM), the world's largest distributor of information technology (IT) solutions. Under the terms of the agreement, Wave's EMBASSY® security software for managing hardware-based data protection and authentication will be available worldwide through Ingram Micro beginning November 1.

"We are thrilled to have the opportunity to work with such an established global leader as Ingram Micro and look forward to offering our management tools for trusted computing around the world," said Brian Berger, Wave's Executive Vice President of Marketing and Sales.

Ingram Micro is the world's largest technology distributor and a leading technology, sales, marketing and logistics company for the IT industry worldwide. As a vital link in the technology value chain, Ingram Micro connects technology solution providers with vendors worldwide, supporting global operations through an extensive sales and distribution network throughout North America, Europe, the Middle East and Africa (EMEA), Latin America and Asia-Pacific. Ingram Micro serves more than 150 countries on six continents and maintains the world's most comprehensive portfolio of IT products and services.

Ingram Micro is authorized to distribute Wave's EMBASSY management software, including EMBASSY Remote Administration Server (ERAS), an enterprise-grade console for the centralized management of endpoint security for data protection and authentication. Wave enables organizations to remotely set up Trusted Platform Modules (TPMs) for strengthening wireless network security and VPN access.  Wave's EMBASSY client software also includes functions for managing the pre-boot environment on select OEM platforms.

For data protection, ERAS manages the full lifecycle of self-encrypting drives (SEDs), where encryption is built into the drive itself for better security and minimal impact on performance compared with software encryption. Wave supports commercially available SEDs from Seagate, Hitachi and Toshiba, as well as solid-state versions from Samsung and Micron. Wave also provides Cloud management for self-encrypting drives. For organizations that have not transitioned to hardware-based encryption, Wave for BitLocker® Management facilitates the deployment and activation of Microsoft's native encryption feature on Windows 7 and is included in the same management console as ERAS.

Wave software is available on leading PC OEMs purchased via Ingram Micro.

"This agreement allows us to offer Wave's comprehensive management for data protection and authentication to more IT resellers around the world," said Eric Kohl, Director, Ingram Micro Advanced Technology Division. "Ingram Micro is very excited to offer Wave's robust management tools for embedded hardware security — SEDs for protecting data and TPMs for strengthening authentication — to its network of partners and our partner's customers."

Wave counts among its customers the world's largest chemical company, one of the largest automotive manufacturers, healthcare systems, financial institutions and government agencies.

More information about Wave's EMBASSY suite of products is available at www.wave.com.

About Ingram Micro Inc.
As a vital link in the technology value chain, Ingram Micro creates sales and profitability opportunities for vendors and resellers through unique marketing programs, outsourced logistics, technical and financial support, managed and cloud-based services, and product aggregation and distribution. The company is the only global broad-based IT distributor, serving more than 150 countries on six continents with the world's most comprehensive portfolio of IT products and services. Visit www.ingrammicro.com.

For more information please contact:

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

Investor Relations:
David Collins, Eric Lentini
Catalyst Global LLC
212-924-9800 office / 917-734-0339 mobile
wavx@catalyst-ir.com