Niveus AVX Media Center PCs to Ship with Wavexpress TVTonic Pre -Installed

High-Quality, Automatic Digital Video Content Downloads Now Available via Broadband to Niveus AVX Media Center PC Users

Los Gatos, CA - June 16, 2004 - Niveus Media, a manufacturer of media entertainment devices for the consumer electronics market, today announced that it will ship Wavexpress' TVTonic broadband video application pre -installed on all Niveus AVX Media Center PCs. Wavexpress is majority -owned by Wave Systems Corp. (NASDAQ: WAVX), a leader in trusted computing.

The Niveus AVX is the first ultra quiet, fanless Entertainment PC to offer the power of a full -size desktop in an A/V component form factor. Measuring just over seventeen inches wide and just under four inches tall, the Niveus AVX is a truly stackable component that integrates seamlessly into any home entertainment A/V rack. In addition, the Niveus AVX is powered by Microsoft`s latest Windows Media Center Edition software allowing users to experience their digital media content like movies, television, music, and photos in a home theater environment. What's more, the Niveus AVX now features WMV High -Definition compatibility, Intel chipsets, and FireWire (IEEE 1394) connectivity.

Wavexpress' TVTonic, which is compatible with Microsoft's Windows XP Media Center Edition, is a leading Internet video distribution and management application. TVTonic extends the digital video recorder functions of the Niveus AVX by providing access to Internet -delivered video channels. These channels download and store high -quality programming which can be viewed at any time. TVTonic features full -screen, DVD -quality video, automated program delivery and expiration, integration with the Media Center Remote, and a channel design optimized for the TV screen.

"The opportunity for broadband entertainment services in the living room is an exciting new realm for the Media Center PC," said Tim Cutting, president and CEO, Niveus Media. "Pre -installing TVTonic on the Niveus AVX enables our customers to receive IP -based video channels which offer unique and original programming, not necessarily available from cable or satellite TV providers."

"Wavexpress is committed to delivering Internet video channels for Media Center and the digital home theater environment," said Michael Sprague, president and COO, Wavexpress. "This is a significant move by a manufacturer, and we are delighted to be expanding the range of viewing choices that Niveus AVX customers enjoy."

Niveus AVX Media Center PC Availability
The Niveus AVX Media Center PC is now shipping with a starting price of $2,400. Further details and configurations can be found at

About Niveus Media
Founded in 2002, Niveus Media, Inc. is a San Jose, California OEM manufacturer, specializing in media entertainment devices for the consumer electronics market. Niveus Media is dedicated to delivering innovative, integrated consumer electronics devices for the networked home. Additional information can be found at:

About Wavexpress
Wavexpress enables secure broadband distribution of premium digital content. The company delivers full -screen, DVD -quality video, games, music and software. Wavexpress supports a variety of business models, including subscription, pay -per -view, and advertising services. More information about Wavexpress products and services is available from

About Wave Systems
Consumers and businesses are demanding a computing environment that is more trusted, private, safe, and secure. Wave is the leader in delivering trusted computing applications and services with advanced products, infrastructure and solutions across multiple trusted platforms from a variety of vendors. Wave holds a portfolio of significant fundamental patents in security and e -commerce applications and employs some of the world's leading security systems architects and engineers. For more information about Wave, visit

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 ability to forge partnerships required for deployment, changes in consumer and corporate buying habits, chip development and production, the rapid pace of change in the technology industry and other factors over which Wave Systems Corp. has little or no control. Wave Systems assumes no obligation to publicly update or revise any forward -looking statements.

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Niveus Media
Alexander Grundner
(866) 258 2929

Wavexpress, Inc.
Simon Tidnam
(917) 250 4471

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