NW_20001129_en_LocalBusiness.com Chicago, November 29, 2000_ "VASCO Opens Singapore Sales Office"

November 29, 2000

OAKBROOK TERRACE, Ill. – Online security company VASCO Data Security International today shaded in the final open space of the global map and announced it has opened a sales office in Singapore, to serve the Asia-Pacific region.

Vasco (Nasdaq: VDSI) said it now has local operations in every part of the globe, adding that the Asia-Pacific region is expected to be a boom area for its products.

“Virtually all of Vasco’s key partners have a local presence in Singapore, which will facilitate local joint sales and marketing efforts,” said Jan Valcke, executive vice president of sales and marketing, in a statement.

The Oakbrook Terrace company has become quite a world traveler recently.

Last week, Vasco said it signed a new Eastern European client, Vilniaus Bankas, a full-service bank in Lithuania with more than 200,000 corporate and retail customers. It earlier landed contracts with Arabian and German financial institutions.

The company is finding a great deal of success selling its Digipass authentication and digital signature security software to protect the confidential information and transactions of its customers as well as to provide remote access for its employees.

Last month, Vasco released a software enhancement to Digipass, to help control access to company information. The secure server software, used in combination with Digipass authentication software, gives access to business data to anyone within the organization while at the same time ensuring only authorized people have access to confidential records.

In September, the company acquired Sunnyvale, Calif.-based Invincible Data System, a security products company, gaining Arab Bank of Jordan as a client.

Despite all the activity, Vasco reported a loss of $1.6 million, or 7 cents a share in the third quarter ended Sept. 30, compared with a loss of $331,137, or 1 cent a share, in the same quarter a year earlier. Revenue in the quarter increased 16 percent to $5.6 million.