At the heart of each trusted smart card reader keyboard from Samsung will be an EMBASSY® 2100 secure e-commerce chip developed by Wave Systems. EMBASSY (EMBedded Application Security SYstem) is a second-generation platform that is inexpensive, open-standards based, programmable, and backed by an infrastructure of trust. The secure multi-function capabilities of EMBASSY present a strong advantage over fixed function smart card readers available on the market today. EMBASSY supports significant functionality including; advanced e-commerce capabilities, support for multiple digital rights management and conditional access systems, strong user authentication features, enhanced platform security, and new privacy options.

``We see a growing market need for a next generation keyboard that delivers strong security and authentication,'' said Hong Rip Lee, general manager of Samsung. ``Our partnership with Wave Systems allows Samsung to take a leadership position in PC products providing next generation security by exploiting the open programmability of the EMBASSY platform. Samsung now has the capability to manufacture consumer keyboards and other peripherals based on EMBASSY technology that is suitable for high volume production and can meet evolving security needs and standards.''

``Samsung is a proven leader in designing and manufacturing low-cost, high volume components and assemblies to the PC OEM community,'' said Steven Sprague, president and CEO, Wave Systems. ``As we focus on significant deployment opportunities in the U.S. and Europe, Samsung makes an excellent partner in helping Wave deliver the most advanced technology solution in the volumes and at the costs that are needed in the marketplace.''

Wave is working with various partners to bring secure smart card reader technology to the market. With this Samsung partnership, Wave is helping to integrate the secure smart card reader technology directly into the PC keyboard, with no other attachments needed.

A prototype of the Samsung keyboard enabled with EMBASSY 2100 technology will be shown at the COMDEX Fall 2001 tradeshow in Las Vegas, Nov. 12-16, 2001, at Samsung's Meeting Room LC102 and at Wave System's Booth L1661, North Hall, Las Vegas Convention Center.

Wave's theme for the show is ``I Demand My Trusted PC!'' Wave will showcase a secure application suite in a Trusted PC demonstration. ``Our extensive market research, both in the U.S. and in Europe, conclusively shows that consumers are eager to get trusted PC capabilities and are willing to pay a premium to get them,'' Sprague said.

About Wave Systems
Wave Systems, with partners and allies, envisions a worldwide network of users based on trusted electronic relationships. Trust @ the Edge defines a new architectural model for the Internet, which embeds trust and security in every user device. Wave Systems, Lee, MA, is developing, deploying, and licensing its EMBASSY Trusted Client technology for the mass adoption of this revolutionary model. Wave is integrating industry standard functions from a wide range of partners that enable reliable, secure digital exchange and commerce. Wave Systems and third parties are building the services that will take advantage of this open model. With multiple offices in France Wave Systems is aggressively supporting the rapid deployment of FINREAD compliant secure E-commerce terminals in European Community countries. For more information, visit www.wave.com.

About Samsung Electro-Mechanics Co., Ltd.
Since 1973, Samsung Electro-Mechanics, one of the affiliate companies of Samsung, has been developing and delivering the parts and components the electronics industry depends on. And, along the way, the company has secured the technological and competitive edge to emerge as a world-class generic electronic component maker at the dawn of the digital millennium. Starting out as a producer of audio and video components, the company diversified into the materials and computer components fields in 1980s, focusing on computer peripherals, multi-layer circuit boards, chip components, optical devices, and mobile communications components, and other cutting-edge products throughout the 1990s. The company leveraged its substantial expertise in high frequency, software, engineering, and manufacturing technologies to begin a major advance into the Internet product and digital components fields late in the decade. As a result, the company wrapped up year 2000 with sales of over US$3.8 billion as the company continued to solidify its position as one of the world's leading general electronic component makers. For more information, visit www.sem.samsung.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. Both Wave Systems and Samsung assume no obligation to publicly update or revise any forward-looking statements.