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LEE, MA -- (Marketwired) -- 11/15/13 -- Wave Systems Corp. (NASDAQ: WAVX)'s Virtual Smart Card offering has been named winner of the Government Security News' (GSN) Homeland Security Award competition in the "Best Smart Card Solution" category. This is the second consecutive year that Wave has won this award.

"We're honored to be recognized by Government Security News as the only vendor offering a complete virtual smart card solution for today's enterprise -- and, importantly, one that is compatible with Windows 7, 8 and 8.1," said Bill Solms, CEO of Wave Systems. "We see virtual smart cards as a disruptive technology in the user authentication market, offering a more secure and cost effective alternative over more mature technologies."

Virtual smart cards emulate the functionality of traditional smart cards, but offer added security and cost benefits. Businesses do not incur added material or operational costs (such as the purchase and shipping of external physical smart cards and smart card readers) because virtual smart cards are built into the device itself. Because of an embedded security chip called a Trusted Platform Module (TPM), which is standard equipment on business PCs, virtual smart cards cannot be lost or stolen. Additionally, enterprises gain the added security afforded by hardware-based security, ensuring that only known devices and known users are allowed access to corporate resources. Convenience is another benefit -- employees never have to type domain credentials into their devices, improving user experience and reducing the time IT spends resetting forgotten passwords, while offering protection against credential theft.

"We judged an outstanding group of entries this year," said Adrian Courtenay, Managing Partner, Government Security News. "We're proud to announce that this year's winners will be showcased in a digital edition of Government Security News, which will reach more than 40,000 subscribers -- a well-deserved honor for Wave Systems and all of this year's award recipients."

Sponsors for GSN's 2013 homeland security awards program included BRS Labs, Cardinal Point Strategies, Objectivity, Vanguard Integrity Professionals and Wave. For a complete list of finalists and pre-emptive winners, visit: www.gsnmagazine.com

About Wave Systems
Wave Systems Corp. reduces the complexity, cost and uncertainty of data protection by starting inside the device. Unlike other vendors who try to secure information by adding layers of software for security, Wave leverages the security capabilities built directly into endpoint computing platforms themselves. Wave is a leading expert in this growing trend and is leading the way with first-to-market solutions and helped shape standards through its board seat on the Trusted Computing Group.

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This press release may contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Wave assumes no duty to and does not undertake to update forward-looking statements.

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