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NW_20001017_en_VASCO Expands Dominance in Online Banking Security Market with signing of Istrobanka in Slovakia

News Release
|   October 17, 2000

BRUSSELS, Belgium – October 17, 2000 – VASCO (NASDAQ & EASDAQ: VDSI; www.vasco.com), a global provider of enterprise-wide security solutions, announced today that Istrobanka a.s., a leading bank in Slovakia with more than 600 million euro in assets, has chosen Digipass security technology to safeguard its customers’ remote access transactions. The bank will draw on the capabilities of Digipass to provide strong authentication as well as digital signature in one device, providing the highest possible level of security for each customer’s confidential information, assets, and personal identity. VASCO is the world leader in authenticating financial transactions, with more than 150 banks as customers representing millions of users of Digipass security.


“Istrobanka shows that VASCO’s Digipass technology is experiencing increased demand for securing the remote transactions of financial institutions,” observed Jan Valcke, Vice President and General Manager of VASCO. “It also demonstrates the effectiveness of our partner strategy to quickly expand our Digipass business to regions like Eastern Europe which are experiencing high growth in traditional as well as remote banking services.”


With Digipass seamlessly integrated into OfficeLine, a complete electronic banking system from VASCO partner A && L soft(www.alsoft.cz), Istrobanka customers can conduct their remote banking easily and securely through the Internet, mobile or regular phone, PC dial-in, or e-mail – for true anytime, anywhere, anyhow banking. Digipass security also allows the bank to strictly control account access, with a dynamic password and two-factor authentication to strongly authenticate customers and a digital signature to verify the authenticity of information and transactions. Only the customer’s individually programmed Digipass and the bank’s computer can generate the proper password and digital signature for that account, providing an extremely high level of security.


“We found Digipass to be exactly what the bank was seeking in remote banking security, and VASCO is everything we could want in a partner,” noted Karel Krenzelok of A && L soft. “While Digipass provides highly effective security, it does so in a way that is affordable and very easy to implement and use. Based on our success with Istrobanka, we are now introducing Digipass to our other bank and corporate network customers throughout Slovakia.”


About VASCO
VASCO secures the enterprise from the mainframe to the Internet with infrastructure solutions that enable secure e-business and e-commerce, protect sensitive information, and safeguard the identity of users. The company’s family of Digipass™, VACMAN®, and SnareWorks™ products offers end-to-end security through true Single Sign-On, access control and advanced entitlements, web portal security, strong user authentication, and PKI enablement, while sharply reducing the time and effort required to deploy and manage security. VASCO’s customers include hundreds of financial institutions, blue-chip corporations, and government agencies in more than 50 countries, among them John Hancock, ABN AMRO Bank, Shell, 3M, Ericsson, Rabobank, SEB, First Union, Liberty Mutual, Cable and Wireless, Nokia, DaimlerChrysler, Volvo, US Department of Defense, European Commission, US Coast Guard, University of Groningen, and Duke University. VASCO’s partners include Check Point Software Technologies, Computer Associates, Intel, Lernout & Hauspie, Novell, and Ubizen. More information is available at www.vasco.com.


About A && L soft
A && L soft is a premier provider of electronic banking software and
services, specializing in helping businesses grow by offering solutions in remote communications and securing their remote access as well as their entire systems. The company offers its clients a full range of software, integration, and consulting services to achieve maximum results. Its OfficeLine system provides a complete electronic banking solution, with the benefits for banks of flexibility to configure the system according to the bank’s own work processes; forward adaptability to new technologies such as WAP banking; ease of integration with other bank IT systems; and security through strong encryption and VASCO’s authentication and digital signature technology proven in more than 150 banks worldwide. More information is available at www.alsoft.cz.

Forward Looking Statements
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as “believes,” “anticipates,” “plans,” “expects,” and similar words, is forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.

Reference is made to the Company’s public filings with the US Securities and Exchange Commission for further information regarding the Company and its operations.

For more information please contact:

Americas:
Media: Kerry Roche, Bridgeman Communications, +1 617 742 7270, kerry@bridgeman.com
Investor Relations: Todd Fromer, KCSA Public Relations Worldwide, +1 212 682 6300, tfromer@kcsa.com
VASCO: Mike Lange, +1 630 932 8844, mbl@vasco.com

Europe/Asia:
Media (Benelux): Bob Pieters, Anthonissen & Associates, +32 3 286 7777, bob.pieters@anthonissen.be
Media (Europe/Asia): Sven Kersten, HBI, +49 89 99 38 87 33, sven_kersten@hbi.de
Investor Relations: Annemieke Blondeel, LBConsult, +44 208 308 7080, a.blondeel@dial.pipex.com
VASCO: Ariane Bosmans, +32 2 456 9810, arb@vasco.com