“Wave Systems and Atos Origin To Demonstrate Convenient E-Purse Application For “Cashless” Transactions”

Paris, France - 6 November, 2002

Smart Card E-Purse Application Could Be Reloaded From Home PC

Wave Systems Corp. (NASDAQ:WAVX), a leader in trusted computing solutions and services, and Atos Origin, the European leader in securised internet payment and e-purse, will demonstrate a new "cashless" electronic purse transaction application that could have a stored value smart card reloaded from a home personal computer. This new capability will be demonstrated at the Cartes 2002 trade show, 5-7 November, Paris Nord Villepinte Exhibition Centre, Booth 4M007, in the IT Security section.

An electronic purse or e-purse is typically a smart card that has stored money value and that can be reloaded at a bank or terminal in a retail store. E-purses can be used for smaller retail purchases in place of a bank debit or credit card and can also replace paper cash and annoying coinage.

"While e-purse usage is relatively small today, industry observers feel its use would grow dramatically if value reloading was made more convenient. By demonstrating the reloading of an e-purse smart card with a Trusted PC in the home, Wave Systems is showing another way its advanced EMBASSY® technology can make commerce more secure and convenient," said Steven Sprague, Wave's president and CEO.

Wave Systems is the developer of the EMBASSY® Trust System, for secure e-commerce and trusted digital exchange, and the EMBASSY® 2100 secure e-commerce chip. EMBASSY chips may be embedded in such products as computer keyboards, smart card readers and other computer components. When the EMBASSY system secures a device such as a personal computer, personal information such as credit card numbers, PIN numbers and other end user secrets are protected from theft. An EMBASSY-enabled trusted PC features an e-purse, a secure wallet, secure identity, secure e-mail and secure shopping capabilities.

"Because Wave's EMBASSY technology in a consumer's PC authenticates the user, the Atos Origin e-purse application is desirable for financial services companies because they can be certain that a qualified customer is receiving the stored value," said Bruno Leconte, Wave's vice president, European Operations. "The possibilities for Internet fraud are significantly reduced. This demonstration with Atos Origin is another example of the growing list of partner relationships Wave is forming to deliver security and e-commerce technologies for the EU market."

About Wave Systems Corp
Wave Systems is a leader in trusted computing solutions and services, including its SignOnline® Suite of Services, a complete web-based digital signing and document storage solution. Wave Systems has developed hardware-based EMBASSY® Trusted Client technology, a Wave TrustEdge® brand of products and the software-based SignOnline Suite of Services as foundation elements for trusted computing.
Wave's TrustEdge product line is a comprehensive set of hardware, software, development tools and EMBASSY-based trust infrastructure that allows manufacturers of input devices to develop trusted platforms which are flexible and programmable to support authentication, logon, and identity vault requirements.
TrustedEdge-enabled input devices are able to handle multi-factor authentication and identity credentials including passwords/PINs, smart cards, magnetic stripe cards and tokens. TrustEdge can be integrated into a wide range of input devices such as keyboards, smart card readers, biometric readers, cell phones and GPS sensors. For more information about Wave Systems, visi http://www.wave.com.

About Atos Origin
Atos Origin is an international information technology services provider. Its business is turning client vision into results through the application of consulting, systems integration and managed operations, including outsourcing and on-line services. In August 2002, Atos Origin acquired KPMG Consulting in the UK and The Netherlands, which now trade as Atos KPMG Consulting. The company generates annual revenues in excess of EUR 3.5 billion and employs 30,000 staff in 30 countries. The Group's client list includes major companies such as ABN-Amro, Akzo-Nobel, Alstom, BNP Paribas, British Petroleum, Euronext, Fiat, ICI, ING, KPN, Lucent, Philips, Renault, Royal Bank of Scotland, Saudi Aramco, Shell, UBS-Warburg, Unilever, Vivendi Universal, Vodafone and Wolters Kluwer.

Press Contacts:
Marie-Tatiana Collombert
+ 33 (1) 49 00 96 33

Anne de Beaumont
Tel: + 33 (0)1 49 00 96 42
Email: anne.debeaumont@atosorigin.com

European Contact
Bruno Leconte
Wave Systems
+33 - 2 28 07 42 01 413-243-7029

John Callahan
Wave Systems