Very nice addition to the Wave Board. Long and loving it.
Business Editors
LEE, Mass.--(BUSINESS WIRE)--June 30, 1999--Wave Systems Corp.
(Nasdaq:WAVX; wave.com) today named Nolan Bushnell, 56,
electronic gaming pioneer, noted entrepreneur and Chairman and CEO of
uWink.com inc., to its Board of Directors. Mr. Bushnell's
appointment increases Wave Systems' Board to seven members.
Mr. Bushnell is best known for founding Atari Corp. in 1971 and
serving as its CEO until 1978. Atari, which developed such
legendary games as PONG, Breakout and Asteroids, was an industry
pioneer and the dominant manufacturer of video games for both
consumer and coin-operated markets. In 1981, Mr. Bushnell went on
to build Catalyst Technologies which served as an incubator for over
12 technology-oriented companies. Among them were Etak, a creator
and manufacturer of automobile navigation systems that was
eventually acquired by News Corp., and ByVideo, which developed the
first point-of-purchase video kiosk utilizing touch screen
technology. From 1991 to 1995 he served as the Chairman of OCTuS,
Inc., a public entity that produced totally integrated voice and
data communication systems. Mr. Bushnell has also served as a
consultant to a variety of companies including Bally Manufacturing,
IBM and Commodore International and lectures frequently at colleges
and universities throughout the United States as well as at a
variety of industry symposia.
Mr. Bushnell currently serves as Chairman and CEO of uWink.com inc.,
a developer of an e-commerce, games and entertainment network housed
on touch screen terminals located in public venues such as airports,
bars, train stations, hotels and restaurants. The uWink.com network
offers an innovative range of easy to play arcade games, chat and
other entertainment features, complemented by a variety of
e-commerce capabilities including hotel and airplane reservations.
A holder of a variety of patents, Mr. Bushnell is a graduate of the
University of Utah, where he earned his Bachelor's in Electrical
Engineering. He also attended Stanford University's Graduate School.
"Nolan and I met over 20 years ago as guests on a television show
where we were trying to predict the electronic future," commented
Peter Sprague, Chairman of Wave Systems Corp. "We have since worked
separately and together to try to make some aspects of that future
occur. I have enjoyed his friendship, his vision and his creative
enthusiasm. I look forward to working together again. Nolan has
always impacted the world around him. Wave will provide him with
additional opportunities to reach out and creatively touch the lives
of all of us."
Mr. Bushnell commented, "I'm honored to join Wave Systems' Board as
Wave is one of a handful of companies that truly offers technology,
security and solutions that can revolutionize commerce and
strengthen the world economy. Of particular relevance to my
background and focus is Wave's ability to support micro-transactions
that enable the reality of the 'pay-for-a-play' arcade to come to
the Internet. On a broader scale, Wave supports the sale of
wonderful content that previously had no viable economic model,
thereby allowing entrepreneurship to flourish on a broad and
international scale."
About Wave Systems Corp:
Founded in 1988, the mission of Wave Systems Corp. is to create the
world's best technologies and services to secure and sell digital
information. Wave's core EMBASSY technology is an inexpensive, open
hardware and software-based device that enables secure transaction
processing and distributed information metering in users' devices.
Embedded in PC hardware and peripherals, set-top boxes and other
devices, EMBASSY is the foundation for client-based security
applications and a new distribution and purchasing model for content
and services. This low-cost, secure "system within a system" will
enable the personal computer and consumer appliances to assume an
important new role in the evolving digital economy. By moving
secure transactions to the user, Wave provides intrinsic value to
the electronic commerce process, benefiting PC users, application
developers, and hardware manufacturers. For more information,
please visit Wave's corporate web site at 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 loss of market share, changes in
consumer buying habits and other factors over which Wave Systems
Corp. has little or no control.
--30--eb/ny
CONTACT: Aaron Feigin
Wave Systems Corp.
afeigin@wavesys.com
408/261-9510
or
David C. Collins, William B. Lee
Jaffoni & Collins
wavx@jcir.com
212/835-8500
KEYWORD: MASSACHUSETTS
REPEATS: New York 212-752-9600 or 800-221-2462; Boston 617-236-4266 or
800-225-2030; SF 415-986-4422 or 800-227-0845; LA 310-820-9473
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