Wave Systems Corp. (fka WAVXQ)

[Jay Signor]

Doma,

Funny you should bring up IdentiPHI. I hope I can answer your questions to your satisfaction:

1. IdentiPHI is an Enterprise solution so they are not under the gun as a software client would be under. Enterprises will not adopt VISTA Enterprise until 2008. They need all the consmers to find the bugs before they standardize.

IdentiPHI has won opportunities in the size of 78,000 seats (Auto Aftermarket Company). 225,000 seats to a top 5 US bank, 200,000+ Seats to a telephony company and numerous 2,500 to 20,000 seat opps.

2. As for TPM support. I know they just won a large integration deal in EMEA with a major Computer Manfacturer. From what I hear TPM support was a prerequisite, and they met their deadline. My guess is that they are working with Infinneon, they tried to work with Wave but it must have fallen short.

Just think if Wave would have worked with IdentiPHI, they could be bosting some very large closed Enterprise deals this afternoon.