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To: Ryan Mak who wrote (86068)	3/2/2000 2:01:00 PM
From: Ryan Mak	Respond to of 120523

Wave Systems to Complete $122 Million Private Placement BusinessWire, Thursday, March 02, 2000 at 12:15 LEE, Mass.--(BUSINESS WIRE)--March 2, 2000--Wave Systems Corp. (NASDAQ:WAVX; wave.com), a provider of hardware and services for e-commerce, digital content distribution and sales, and security applications, announced it has secured commitments for approximately $122 million through the private placement of approximately 3.6 million shares of Class A Common Stock at $34.00 per share to institutional and accredited investors. Pacific Growth Equities, Inc. acted as sole placement agent for the private placement. The private placement is expected to close next week, following which Wave Systems intends to file an S-3 registration statement with the Securities and Exchange Commission to register the resale of the shares issued in the private placement. "Wave's EMBASSY (EMBedded Application Security SYstem) Trusted Client technology provides an open platform for security, trust and e-commerce in consumer PCs and other devices. The programmable, chip-based EMBASSY platform enhances transaction security, content protection, media distribution and consumer privacy for a broad range of Internet and broadband/broadcast content and applications," commented Steven Sprague, President of Wave Systems. "The proceeds from this placement will enable Wave to pursue the mass deployment of our technology, to expand our content relationships and create new data content services, and to continue the integration of our open platform with a number of additional strategic technology partners." This announcement does not constitute an offer to sell or the solicitation of offers to buy any security and shall not constitute an offer, solicitation or sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful.