Lee, MA
July 17, 2015

Wave Systems Corp. (NASDAQ: WAVX) today announced that, by letter dated July 16, 2015, the Listing Qualifications Staff of The NASDAQ Stock Market LLC notified the Company that, based upon its continued non-compliance with the minimum $1.00 bid price requirement, as set forth in NASDAQ Listing Rule 5550(a)(2), as of July 14, 2015, the Company's common shares would be subject to delisting from NASDAQ effective July 27, 2015 unless the Company submits a request for a hearing before the NASDAQ Listing Qualifications Panel (the "Panel").

The Company is considering its options with respect to a plan to regain and sustain compliance with the applicable NASDAQ listing criteria and the presentation of such plan at a hearing before the Panel. The Company's common shares would remain listed on NASDAQ pending any such hearing and until the expiration of any extension granted by the Panel following the hearing. There can be no assurance that the Panel would grant the Company's request for continued listing on NASDAQ.

For more information please contact:

Wave Contact:
Wave Systems Corp.
Walter A. Shephard, CFO


Investor Relations:
David Collins, Chris Eddy
Catalyst Global LLC
212-924-9800 office