Education & Distance Learning Enthusiasts- XMedia Announces Contract with CyberKAIST; Leading Korean Distance Learning Company to use Wavexpress Next Generation Broadband Distribution Technology

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XMedia Announces Contract with CyberKAIST; Leading Korean Distance Learning Company to use Wavexpress Next Generation Broadband Distribution Technology

Business Wire - December 8, 2003

Business Editors

SEOUL, South Korea & NEW YORK--(BUSINESS WIRE)--Dec. 8, 2003

Seoul-based content management company XMedia announced today that it has been selected by CyberKAIST to provide technology for delivery of online courseware. XMedia has chosen Wavexpress, majority owned by Wave Systems Corp. (WAVX:NASDAQ), as the technology platform provider to ensure secure broadband distribution of the courseware. Wavexpress delivers full-screen, DVD-quality digital content over broadband networks.

CyberKAIST (http://www.cyberkaist.ac.kr/), the distance learning division of the Korean Advanced Institute of Science and Technology (KAIST), currently offers a wide variety of educational courses online using traditional streaming technologies.

Mr. YuJai Lee, CEO of CyberKAIST, said, "The quality and customer management features of the Wavexpress technology platform made XMedia a logical step to take us beyond traditional data streaming technology. Korea has an incredible broadband infrastructure, and very few technologies exist to make use of it. XMedia's local presence combined with Wavexpress' world-class broadband-enabled platform will allow us to create a distance learning platform unrivalled in Korea."

CyberKAIST will initially implement the new technology for a Chinese language course. From there, it plans to use the cached video delivery service for six subjects covering thirty-one different courses. Because of the unique cached delivery system enabled by Wavexpress, users will be able to view DVD-quality educational materials on demand on their PCs even when offline. All content is managed by CyberKAIST and kept in an encrypted store on the user's hard drive.

"We're very excited to have a company with CyberKAIST's breadth of high quality content as our first major client in Korea," said Mr. Casey Kim, CEO of XMedia. "This is our launch client, and we plan to apply the technology not just to the distance learning, but also in such diverse arenas as entertainment video on-demand, enterprise communications, using the PC, satellite broadcasting, and set top boxes."

He is currently developing strategic alliances with various firms throughout Asia.

XMedia is a Korean firm launched by InfraBasic (http://www.infrabasic.com), a U.S.-based launch management company. XMedia has licensed exclusive rights from Wavexpress (http://www.wavexpress.com), a leading broadband technology company, to distribute Wavexpress' products, including video delivery, compression, management and playback technologies, in certain Asian markets.

Financial terms of the agreements were not disclosed.

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.

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 http://www.wave.com.

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