These include the eServer iSeries, pSeries,
zSeries, xSeries, BladeCenter , TotalStorage and the OpenPower line of Linux-
based servers. For more information, please visit
http://www. "As an integrated part of the
motherboard, Trusted Computing Group-specified Trusted Platform
Modules (TPMs) provide an early integrity control for software and
hardware as well as identity control of the entire PC system."
Demonstrations will be available at the G+D Booth D28 , Hall 17, at
the CeBIT 2005 trade show.

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It also
enables portable user identification delivering a reliable and
flexible security solution.

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Linux is a
registered trademark of Linus Torvalds. Such factors include
general economic and business conditions, the ability to fund
operations , the ability to forge partnerships required for deployment,
changes in consumer and corporate buying habits, chip development and
production, the rapid pace of change in the technology industry and
other factors over which Wave Systems Corp.

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"Emu Software's swift completion of the testing provides our
joint customers with a uniquely powerful tool for helping manage the migration
of workloads from proprietary environments to Linux. Partners include Core Function, IBM, MBX and Red Hat Software .

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Business Editors/High-Tech Writers
CeBIT 2005
G+D Booth D28

HANNOVER, Germany- ---Wave Systems
Corp. (NASDAQ:WAVX) today announced its EMBASSY(R) Trust Suite (ETS)
software for trusted computing will be demonstrated at the Giesecke +
Devrient (G+D) booth at the CeBIT 2005 trade show, March 10-16, 2005.

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All other trademarks herein are
property of their respective owners.
At CeBIT 2005, Wave will highlight the newest trusted computing
capabilities of its ETS software, including policy management, and
management tools to enable hardware security in applications such as
email and wireless authentication.

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"
"The scalability and flexibility of Linux have naturally led to its rapid
uptake by IBM customers," said Jim McHugh, CEO of Emu Software. in the U.
Wave's ETS software solutions are designed to be compliant with
TCG specifications.

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exploit ibm

Completes IBM Chiphopper Program to Provide Customers Migrating to Linux With
Certified Solution for Server Configuration Management

LINUXWORLD EXPO (Booth #459), SAN FRANCISCO, Emu
Software today announced its NetDirector(TM) Linux Application Management
Suite has been certified by IBM for use across all IBM eServer systems, from
entry-level servers to mainframes.

Contact:
Greg Wallace Chantal Yang
Emu Software Schwartz Communications
919-313-6429 781-684-0770
gwallace@emusoftware.

For more information please visit www.

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Wave Systems to Demonstrate Trusted Computing Security Solutions with Giesecke + Devrient at CeBIT 2005

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is dedicated to making the management of Linux easier
and more robust so that more companies and organizations can do more with
Linux.com

Sites related to IBM 's large range of platforms including subcategories for AS/400 (iSeries) and S/390 (zSeries).

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NetDirector is a trademark of Emu Software, Inc. Wave has designed its ETS software
to be easy to use, to be interoperable across all available platforms
and security chip vendors, and to offer server solution upgrades
needed by enterprises and government users.
Wave Systems assumes no obligation to publicly update or revise any
forward-looking statements.

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Emu Software Certifies NetDirector Linux Application Management Suite Across IBM Platforms

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"

About Emu Software
Emu Software , Inc.

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NetDirector provides these organizations the first truly full-
featured Linux management product , allowing IT administrators who aren't Linux
experts to securely manage dozens of servers from a single console.com emusoftware@schwartz-pr.wave.

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"IBM launched the Chiphopper program earlier this year to enable software
vendors to rapidly test, port and support their applications across the entire
eServer line," said Scott Handy, vice president of worldwide Linux business
strategy , IBM.

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com.S. For more information about the
demonstrations, please contact Bruno Leconte, at bleconte@wavesys . Wave has
designed its secure business productivity software to work with all
TCG-compliant TPMs commercially available.

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Emu
Software is headquartered in Durham, N. has little or no control.

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Organizations moving away from proprietary
operating systems toward Linux for their IBM servers can now use NetDirector
for centralized configuration and application management.emusoftware.

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NetDirector provides
unparalleled visibility and control over Linux assets, making it easier and
more cost-effective than ever for enterprises to move to the open source
operating system.
The IBM eServer Application Server Advantage for Linux, also known as
Chiphopper, provides a testing framework to ensure software applications
operate across all IBM systems.
"The combination of trusted computing with smart card technology
shows a lot of complementary advantages," said Andreas Raschmeier,
head of Business Development , G+D. For more information about Wave, visit
http://www.

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The
addition of chip card technology , as a smart card or smart USB token,
enhances security by allowing multi-factor authentication. The computer industry has shipped millions of PCs
embedded with a standard security chip, called the TPM.

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com
"Both Wave and G+D are members of the Trusted Computing Group and
Wave is pleased to be able to highlight a range of trusted computing
solutions with them at this important trade show, " said Bruno Leconte,
Wave's vice president, EMEA.com

About Wave Systems

Consumers and businesses are demanding a computing environment
that is more trusted, private, safe and secure.

Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the company to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements.

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Wave is the leader in
delivering trusted computing applications and services with advanced
products, infrastructure and solutions across multiple trusted
platforms from a variety of vendors . Wave holds a portfolio of
significant fundamental patents in security and e-commerce
applications and employs some of the world's leading security systems
architects and engineers.

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"Now, we're
making it even more cost-effective for customers running zSeries mainframes,
the OpenPower line or entry -level x86-based systems to manage their Linux
environments.wave.com

Safe Harbor for Forward -Looking Statements

Except for the statements of historical fact, the information
presented herein constitutes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.