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Wave Appoints John Fitzgerald as North American CTO

Former Defense CTO for Dell Brings Deep Expertise in the Defense and Pharmaceutical Industries

LEE, MA -- (Marketwired) -- 04/14/14 -- Wave Systems Corp. (NASDAQ: WAVX) today announced the addition of John Fitzgerald as Chief Technology Officer (CTO) for North America, a new position reporting to Tom Conte, Vice President of North American Sales, and Greg Kazmierczak, Wave's Corporate CTO.

Mr. Fitzgerald was most recently Defense CTO and Federal Cloud Strategist for Dell, where he was instrumental in shaping Dell's strategy around Cloud Computing in the Federal space.

"We are pleased to welcome John Fitzgerald to Tom Conte's team as CTO for North America," said Wave CEO Bill Solms. "John is the latest example of the highly talented folks who are joining the company today -- individuals who share my belief in Wave's future."

In the newly created position, Fitzgerald will assist the North American Sales team with large, technically complex deals. He will be responsible for pursuing product certifications in conjunction with the CTO office, and help prepare the company's strategic technology roadmaps.

Prior to his most recent role at Dell, he served as a Director of Dell's Advanced Systems Group, responsible for the Army and Air Force Systems technical team supporting Dell's enterprise product line.

From 2003 to 2011, he served as an IT executive at several pharmaceutical Contract Research Organizations, which help pharmaceutical and medical device developers bring their products from clinical development to market. Most recently, he was Vice President, Global Corporate Services as well as Vice President Global Information Technology of London-based Premier Research Group. Previously, he was Vice President, Operations, of Data Capture International, and Vice President, Information Technology at PharmData Inc.

"John fills a critical role as Wave works to expand its presence in the commercial and public business," said Tom Conte, VP North American Sales. "His rich industry experience and track record of technology innovation helps Wave uniquely build customer security solutions tuned for compliance minded enterprise deployments."

Before joining the private sector, Mr. Fitzgerald served in the Pentagon, working directly for the Chief Information Officer (CIO) for the United States Army and interning for the Joint Chiefs of Staff in the Nuclear Arms Control Division and the Central and Eastern Europe Division. He served in the U.S. Army from 1989 to 2007. He holds a B.S. degree in Chemistry from Davidson College.

About Wave Systems
Wave Systems Corp. (NASDAQ: WAVX) 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 has been a foremost expert on this growing trend, leading the way with first-to-market solutions and helping shape standards through its work as a board member for the Trusted Computing Group.

Safe Harbor for Forward-Looking Statements
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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