news:
biz.yahoo.com
Tuesday February 23, 6:31 am Eastern Time
Company Press Release
Wave Systems Joins TRUSTe Privacy Seal Program
Wave Demonstrates Ongoing Commitment to Customer Privacy and Security
SAN JOSE, Calif.--(BUSINESS WIRE)--Feb. 23, 1999--Wave Systems Corp., (OTC BB:WAVX - news; wave.com), a company that facilitates
secure transactions on the desktop, today announced that it has become a licensee of the TRUSTe privacy seal program.
Wave's TRUSTe license marks the latest in a series of announcements demonstrating the progression of the company's trusted-client technology -- a vehicle that
enables secure and safe e-commerce transactions.
As part of its licensing commitment, Wave will adhere to TRUSTe's principles of fair information practices and disclosure -- an initiative to help assure that consumers
are empowered to make informed choices about their privacy. TRUSTe's privacy seal, or ''trustmark,'' will be prominently displayed on Wave's home page. The
seal will offer a direct link to Wave's privacy statement, which provides customers with details of the company's privacy and security policies.
''One of the primary inhibitors to the broad acceptance of e-commerce is consumers' concern about the privacy of personally identifiable information,'' stated Steven
Sprague, president and COO of Wave. ''As a TRUST licensee, developer of the 'trusted client' system, and an underwriter of Georgetown University's study on
Internet Privacy, Wave is committed to consumer privacy.''
''The TRUSTe privacy seal program is designed to increase consumers' confidence in online transactions by giving them control over their personal information,'' said
Susan Scott, executive director of TRUSTe. ''By becoming a TRUSTe licensee, Wave is making it easy for its customers to locate and understand information
regarding Wave's online privacy and security policies.''
Today's announcement follows recent agreements that deliver on Wave's strategy to develop applications for its trusted-client technology. Introduced by HP and
Wave Systems last October, the trusted-client system is an open, programmable hardware- and software-based device that creates a fully exportable, secure and
trusted environment within the PC.
Wave's EMBASSY E-Commerce System is the first implementation of trusted-client technology and will be included on motherboard, peripheral and set-top box
chip sets.
Information on Wave's ''trusted client'' and EMBASSY system are available at wave.com
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, proprietary hardware and software-based device that enables secure transaction processing and distributed information
metering in users' PCs.
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 to assume an important
new role in the evolving digital economy.
By moving secure transactions to the desktop, 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 wave.com.
About TRUSTe
TRUSTe, the Internet industry's privacy seal program, is a non-profit organization dedicated to building global trust and confidence in the Internet through a
third-party oversight ''seal'' program. TRUSTe assures users that sites are indeed doing what they claim through periodic site reviews and provides consumers with a
dispute resolution mechanism. Sites that have successfully met TRUSTe guidelines are able to display a ''trustmark'' seal to inform users of their participation in the
program.
Currently, according to Media Metrix, 88 percent of all U.S. Web users visit a TRUSTe-licensed site each month. In addition, TRUSTe-licensed sites account for 25
percent of total Web traffic and time spent on the Web. Visit www.truste.org for a complete listing of licensees.
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.
Contact:
Wave Systems Corp.
Kent W. Kappen, 408/261-9510
kkappen@wavesys.com
or
Jaffoni & Collins for Wave Systems
David Collins/Kathy Holmes, 212/835-8500 (Investors)
WAVX@jcir.com
or
Fleishman-Hillard for Wave Systems
Aaron Feigin, 415/356-1033 (Media)
feigina@fleishman.com
CJ |
