Wave Introduces EMBASSY Trust Suite Version 5.1 for Businesses that Demand Security

Lee, MA – May 8, 2006 – Wave Systems Corp. (NASDAQ:WAVX www.wave.com) today announced the availability of their EMBASSY Trust Suite (ETS) version 5.1, which provides a collection of practical, easy-to-use applications for enhanced PC security utilizing the Trusted Platform Module (TPM) security chip.   Wave's EMBASSY software platform provides a number of trusted computing features including advanced authentication with biometrics, smart card authentication, TPM authentication and also includes applications for document protection, password management, digital signatures, TPM management and robust key management.

The improvements to Wave's EMBASSY Trust Suite version 5.1 add powerful new password management functions and a powerful yet simplified setup wizard to aid new users with initial security options and settings.   Wave's newest server capabilities provide sophisticated policy management and key management features which are designed to allow enterprise IT managers to implement varying security group policies, while providing a flexible solution that enables simple changes relative to user or department.

"As security continues to be a major business computing concern, the adoption of a simplified yet enhanced level of security protection is essential," said Steven Sprague, president and CEO, Wave Systems.   "The EMBASSY platform offers a robust set of capabilities for well-built authentication, enabling the use of biometrics, smart cards, passwords or the TPM, all tailored to specific business requirements.”

Wave's EMBASSY software is designed to be compliant with TCG specifications and work with the next generation security chip hardware, the Trusted Platform Module 1.2.   The computer industry has shipped millions of PCs embedded with the TPM 1.1 chip and the next generation 1.2 TPM chip is now shipping.   Wave's EMBASSY platform supports both standards.   Wave's EMBASSY Trust Suite is designed to be integrated with Wave's Key backup server solution, key transfer enterprise server.

For more information about Wave's trusted applications and services, please go to: http://www.wave.com/products/ets.asp.

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.

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