Lee, MA
October 19, 2014

Wave Systems Corp. (NASDAQ: WAVX) announced it has appointed retired U.S. Army Major General Gary Patton as the company’s Executive Vice President and Chief of Staff.

Reporting directly to Wave’s President and CEO, Bill Solms, Mr. Patton will be responsible for efficient and effective coordination and synchronization across the entire corporate team, including the implementation and execution of corporate strategic initiatives and policies.

“Gary is a proven leader and manager with many years of executive-level experience in operations, training, and organizational management. I have charged him with the task of helping me elevate Wave’s organizational and management practices to an even higher level of professionalism” said Bill Solms, Wave CEO. “But I didn’t hire Gary because he was a Major General in the U.S Army, I hired him because he is a highly experienced and effective manager of complex organizations and because I also know him to be a man of great character.

“He will be our corporate Chief of Staff, a position he held previously for a U.S. Army infantry division in a war zone,” Solms said. “Although he is new to the corporate world and to IT, Gary’s senior-level management experience is impressive and will be valuable as we continue to transform Wave into an even more capable and efficient organization. A man with Gary’s credentials always has many viable options when it comes to beginning a second career. I’m very pleased that after taking a close look at Wave he chose us, and I’m eager for him to help the company accomplish its goals.”

Prior to joining Wave, Major General Patton served over 35 years on active duty with extensive senior executive experience leading large organizations and managing complex programs. His senior command and staff assignments include: Chief of Staff for the 23,000-member 25th Infantry Division Task Force in Iraq; Director for Manpower and Personnel (J1) for the Joint Chiefs of Staff; Deputy Commanding General of the NATO Training Mission in Afghanistan; Director for the Department of Defense Sexual Assault Prevention and Response Office; and Principal Director for Military Personnel Policy on the Staff of the Secretary of Defense. Major General (Retired) Patton began his Army career with a commissioning in 1979 from the U.S. Military Academy at West Point.

In the Department of Defense’s public announcement of Mr. Patton’s military retirement, Secretary of Defense Chuck Hagel said, “Maj. Gen. Patton has demonstrated total commitment to mission accomplishment, the readiness of the force, and the welfare of his troops. He has a history of tackling tough assignments and I want to thank him for the transparency, energy, persistence, and strong leadership he has brought to the Department’s sexual assault prevention and response program over these past 18 months.”

For more information please contact:

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

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