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A new dynamic pair-wise key establishment algorithm without requiring keys pre-distribution is proposed. In the scheme, each node does not require any pre-assigned keys before deployment, and after deployment, for any two nodes, they will establish a different direct pair-wise key between them dynamically during each session. Theoretic analysis and simulation results show that the probability of direct pair-wise key establishment of our new algorithm is 100%, which is much higher than those previous traditional pairwise key establishment methods. Furthermore, it is distributed and has good security performance also.