Lee, MA
September 7, 2011

Wave Systems Corp. (NASDAQ:WAVX www.wave.com) today announced that it will join industry experts, government authorities and academics presenting at the National Security Agency's 2nd Annual Trusted Computing Conference, September 20th — 22nd at the Caribe Royal Hotel in Orlando, FL. The conference provides a unique forum for those interested in how trusted computing technologies can improve the security of sensitive data, enterprise networks and critical applications. Wave Systems' customer PricewaterhouseCoopers will also present a session on leveraging Trusted Platform Modules (TPMs) for authentication and key security.

"Wave is honored to participate in this one-of-a-kind event for the second year in a row," said Wave CEO Steven Sprague. "This event demonstrates NSA's commitment to cybersecurity, especially in a time of rapidly-changing threats that demand innovation and collaboration from all players. Wave is pleased to contribute to this discussion and looks forward to working with other participants to help advance NSA's mission."

Defending sensitive networks and information from unauthorized access presents a key challenge in the face of these growing threats. But as recent high-profile breaches have shown, user credentials and tokens alone aren't enough to secure the network. In his Wednesday session, "Mitigating Today's Most Pervasive Cyber Threats with Device Identification," Sprague will outline how the TPM, a security chip attached to a computer's motherboard, can establish automatic and transparent authentication of known network devices and users. Because the TPM chip is physically part of the device, it is uniquely suited for creating and verifying strong device identities and ensuring only authorized access to networks.

The only conference of its kind, the NSA Trusted Computing Conference brings together the pre-eminent voices in the trusted computing field. This year's conference will address the current state of information security and the techniques and technologies that enhance security while improving the user experience. The theme this year is "Using COTS (Commercial Off-The-Shelf) Technologies to Deliver Decisive Defensive Advantage."

Wave will present several sessions during the three-day event, including sessions from Mr. Sprague and Chief Scientist Dr. Robert Thibadeau. The full list of Wave's sessions includes:

1:15 — 2:00 p.m. "Case Study: Leveraging TPM for Authentication and Key Security." PricewaterhouseCoopers' Gautam Muralidharan describes the international auditing, tax and advisory firm's global deployment of Wave-managed Trusted Platform Modules (TPMs).
2:15 — 3:00 p.m. "TSCP Panel: Securing the Supply Chain with Trusted Computing." Mr. Sprague moderates a panel of fellow TSCP members, illuminating how trusted computing has contributed to efforts to secure the A&D supply chain.
4:45 — 5:30 p.m. "Evaluating the Most Revolutionary Trusted Computing Breakthroughs of 2011." Dr. Thibadeau moderates this panel highlighting the major trusted computing successes of the past year.

10:45 — 11:30 a.m. "Industry Panel: Debunking the Myths of Trusted Computing." Joining representatives from Digital Management, Inc., McAfee, The Boeing Company, and Fosforus, Dr. Thibadeau participates in this panel designed to address common misconceptions of trusted computing.
2:15 — 3:00 p.m. "Advanced Persistent Threats: Monitoring Endpoint Health of the PC Boot Environment." Dr. Thibadeau demonstrates how the TPM can be part of a strong defense against rootkits and attacks on the Master Boot Record and BIOS.
3:45 — 4:05 p.m."Mitigate Today's Most Pervasive Cyber Threats with Device Identification." Mr. Sprague speaks to the value of adding device identification to a layered enterprise security system.

Wave will also exhibit commercially available technology demonstrations at booth # 305, including: self-encrypting drive (SED) management with Common Access Card support; use of the TPM for device identification; and additional advanced uses of these tools for management from the cloud and for endpoint monitoring. Wave and the NSA will host a reception open to all attendees from 7:00 — 9:00 p.m. on Tuesday, poolside at the Caribe Royal Hotel.

For more information please contact:

Wave Contact:
Michael Wheeler
Wave Systems Corp.

Investor Relations:
David Collins, Eric Lentini
Catalyst Global LLC
212-924-9800 office / 917-734-0339 mobile