Philips and Wave Systems Awarded Television Broadcast Magazine's Editors' Pick of Show Award At NAB for MPEG4-Based Streaming Media stration
SUNNYVALE, Calif.--(BUSINESS WIRE)--April 19, 2000--Philips Digital Networks, part of Philips Electronics (NYSE - symbol: PHG), and Wave Systems Corp. (NASDAQ - symbol: WAVX), a provider of electronic commerce, content distribution, and security services, today announced they have received the Editors' Pick of Show award from the editors of Television Broadcast magazine for their joint stration of Philips' MPEG4 tools and services and Wave's streaming media e-commerce services. The stration was given to Broadcasters, Content Providers and Streaming Media Network companies at the National ociation of Broadcasters show in Las Vegas April 10 - April 14. Television Broadcast's Editors Pick of Show is chosen by a team of magazine staff and NAB contributing editors. Awards are presented in recognition of Achievement in the Advancement of the Art and Science of Television Broadcast. "MPEG4 is key to our overall set-top box and consumer devices business strategy, and we are pleased that our demo at NAB was recognized as a powerful end-to-end media distribution solution strating how the TV and the Web are converging," said Ahmad Ouri, vice president and general manager of MP4Net, the Broadcast and Internet Content Delivery group within Philips. "Our collaboration with Philips was the first step in strating how media publishers can deliver content to consumers with various PC or non-PC devices over the Internet using our world class set of media production, packaging, e-commerce, rights management and consumer-relationship management tools," said Shailendra Jain, VP New Media Services, Wave Systems Corp. About Phillips Philips Digital Networks - a business group of the Philips Consumer Electronics division - is a world-leading provider of advanced digital system solutions for Service and Network providers in broadcasting and video distribution. Philips Digital Networks offers product and service solutions for customers in both the professional side of the distribution chain, as well as for consumers to use in the home. In the consumer domain, Philips Digital Networks is a leading provider of set-top boxes for digital television and internet delivery, as well as personal video recording. The broad professional product portfolio includes a comprehensive range of television cameras, studio and compression equipment, conditional access systems and transmission systems for broadband cable networks to deliver a full array of interactive services. A flexible customer support program and active involvement in the bodies setting tomorrow's entertainment and information delivery standards makes Philips a natural partner for the digital broadcast era. Royal Philips Electronics of the Netherlands is one of the world's biggest electronics companies and Europe's largest, with sales of $33.5 billion (EUR 31.5 billion) in 1999. It is a global leader in color television sets, lighting, electric shavers, color tubes for televisions and monitors, and one-chip TV products. Its 226,900 employees in more than 60 countries are active in the areas of lighting, consumer electronics, domestic appliances, components, semiconductors, medical systems, and IT services (Origin). Philips is quoted on the NYSE (symbol: PHG), London, Frankfurt, Amsterdam and other stock exchanges. News from Philips is located at http://www.news.philips.com ATTN Broadcasters: B-Roll on Philips is available from Bulletin International at (212) 899-5450 or (415) 252-7106 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 also has a comprehensive line of trusted client co-processor systems. Wave's technology is an inexpensive, open standards, 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, Wave's trusted client technology 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 ume 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 http://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. and Philips have little or no control.