Feb 13, 2006

Seagate and Wave Systems Demonstrate Robust Data Security for Notebook PC's at RSA Conference 2006

SCOTTS VALLEY, Calif. - Seagate Technology (NYSE:STX), the world's leading hard drive maker, and Wave Systems Corp. (Nasdaq:WAVX) are teaming up at the RSA Conference 2006, February 13-17, at San Jose's McEnery Convention Center to showcase the latest development in data security. The two companies will demonstrate a security solution that combines the strongest protection available for intellectual property, personal information and other sensitive data stored on lost or stolen notebook PCs with a simple way to manage and protect encryption keys and passwords.

The demonstration features Seagate Momentus 5400 FDE, a 2.5-inch, 5400-RPM notebook hard drive with hardware-based Full Disc Encryption (FDE) to deliver the highest levels of data security, and Wave's Embassy Security Center software. The Wave Systems software suite, which meets security specifications established by the Trusted Computing Group (TCG), an industry group focused on developing open standards for security hardware and software, uses Wave's Trusted Drive Manager to give organizations an easy way to set up and configure the Momentus 5400 FDE drive and automate protection and management of passwords and encryption keys.

"The Trusted Computing Group specifications have provided the industry with standard building blocks to enhance computer security," said Lark Allen, executive vice president, Wave Systems. "By extending the TCG trusted computing specified services to Seagate's FDE drives, Wave's software enables organizations to implement a single, integrated infrastructure for managing their trusted devices." Wave's Embassy solutions support hardware security features provided by TCG Trusted Platform Module (TPM) security chips currently shipping in millions of personal computers. Among other capabilities, Wave's Trusted Drive Manager provides strong authentication for tightly controlled access to FDE drives and can be used with biometrics and smart cards to enable multi-factor authentication. Extending the Embassy Security Center to include support for the Seagate Momentus 5400 FDE family can bring an important new capability to data protection for organizations of all sizes.

Momentus 5400 FDE - Delivering New Levels of Notebook PC Security

With the new Momentus 5400 FDE hard drive, Seagate has taken the lead in delivering a simple, cost-effective way to provide strong protection against unauthorized access to data on notebook PCs. Momentus 5400 FDE automatically encrypts all data, not just selected files or partitions, on the drive. Seagate FDE also eliminates disc initialization and configuration required by encryption software, allows hard drive data to be erased instantly so the drive can be redeployed, and delivers full inline-speed encryption with no impact to system performance.

Seagate FDE works by putting all security keys and cryptographic operations within the drive, separating them from the operating system in order to provide greater protection against hacking and tampering than traditional software alternatives, which can give thieves backdoor access to encryption keys and are more vulnerable to viruses.

"As notebooks continue to proliferate, representing an increasing segment of the overall PC market, more customers are demanding systems that provide a bulwark against the loss of sensitive business or personal information and the potentially high related costs when notebooks are lost or stolen," said Karl Chicca, Seagate senior vice president and general manager, Personal Storage. "Seagate is focused on teaming with Wave Systems and other providers of industry-standard security software to enable easy-to-deploy notebook PCs with strong hardware encryption and the software infrastructure needed to manage and protect passwords and encryption keys."

Wave Systems and Seagate Present at RSA Conference

The Seagate-Wave Systems notebook PC security demonstration can be seen at the Wave Systems booth, 1407, and the Trusted Computing Group booth, 1411, at RSA Conference 2006. These Wave Systems and Seagate security experts will speak at the conference's Trusted Computing Group Seminar on Monday, February 13:

Steven Sprague
Wave Systems
Platform Solutions: Authentication
10:45 - 11:15 a.m.

Michael Willett
Seagate Technology
Platform Solutions: Storage
11:15 - 11:45 a.m.

Brian Berger, Moderator
Wave Systems
12:45 - 1:00 p.m.

Solution Availability
Seagate's Momentus 5400 FDE hard drive and Wave's Embassy Security Center software will be available later this year.

About Seagate
Seagate is the worldwide leader in the design, manufacture and marketing of hard disc drives, providing products for a wide-range of Enterprise, Desktop, Mobile Computing, and Consumer Electronics applications. Seagate's business model leverages technology leadership and world-class manufacturing to deliver industry-leading innovation and quality to its global customers, and to be the low cost producer in all markets in which it participates. The company is committed to providing award-winning products, customer support and reliability to meet the world's growing demand for information storage. Seagate was named 2006 Company of the Year by Forbes Magazine. Seagate can be found around the globe and at www.seagate.com.

About Wave Systems
Consumers and businesses are demanding a computing environment that is more trusted, private, safe and secure. 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. For more information about Wave, visit http://www.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. 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. 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. has little or no control. Wave Systems assumes no obligation to publicly update or revise any forward-looking statements.

Seagate, Seagate Technology and the Wave logo are registered trademarks of Seagate Technology LLC. Momentus is either a trademark or registered trademarks of Seagate Technology LLC. All other trademarks or registered trademarks are the property of their respective owners.