NW_20010718_en_VASCO, #1 Security Vendor Worldwide, Sought by Major US Financial Conference

July 18, 2001

OAKBROOK TERRACE, Ill. and BRUSSELS, Belgium – July 18, 2001 – VASCO (Nasdaq NM & Nasdaq Europe: VDSI; www.vasco.com) announced today that it has been asked to speak at Electronic Commerce 2002, a major banking conference sponsored by the two largest business-to-business financial associations in the US: The Association for Financial Professionals (AFP) and NACHA, the Electronic Payments Association. Based on this year’s successful conference, Electronic Commerce 2002 is expected to draw thousands of executives from leading US financial institutions and corporations. VASCO will share its extensive knowledge of how security enables business in the financial world, and how financial institutions can leverage their existing infrastructures to secure their burgeoning e-commerce applications.

“We were asked to present at Electronic Commerce 2002 in large part due to VASCO’s number one position in the world’s banking market when it comes to security,” noted Mario Houthooft, President and CEO of VASCO, “and because we are demonstrating that easy-to-use and affordable security delivers real business for financial institutions and is the foundation e-commerce growth. With more than 170 banks and almost six million people around the world relying on VASCO security to safeguard account information and assure the integrity of web-based transactions, we expect to continue leading the market for securing financial transactions.”

Banks drawing on VASCO’s solutions to secure their expanding web banking presence reads like a “Who’s Who” of the financial world. A selected customer sampling demonstrates VASCO’s domination securing the world’s banks:

· ABN AMRO (Netherlands)
· Deutsche Bank (Germany)
· First Union (United States)
· Fifth Third Bank (United States)
· SouthTrust Bank (United States)
· OCBC Bank (Singapore)
· Commonwealth Bank (Australia)
· Arab Bank (Jordan)
· Fortis Bank (Belgium)
· Rabobank (Netherlands)
· Zagrebacka Banka (Croatia)
· Loyal Bank (Hungary)
· Vilniaus Bankas (Lithuania)
· Crédit Agricole Indosuez (Luxembourg)
· Postbanken (Norway)
· Pekao Bank (Poland)
· Banco Pinto & Sotto Mayor (Portugal)
· SEB (Sweden)
· National Westminster Bank (United Kingdom)

At Electronic Commerce 2002, VASCO will present “Beyond the Cash Register: Using Smart Cards for E-Business Security,” drawing on the company’s successful introduction of security products that expand the usage and acceptance of smart cards. For example, Rabobank, one of the largest banks in the Netherlands, recently purchased three hundred thousand Digipass 800 portable and secure smart card readers from VASCO. The bank is now marketing the Digipass 800 to its customer base of over six million smart card holders. In the United States, companies such as American Express, MasterCard, and VISA are leading the way to multi-application smart cards for secure e-business and e-commerce.

“We are successful in the financial market because we understand how banks operate,” added Mario Houthooft. “All our security products are designed to apply to a real market, allowing financial institutions to sell anywhere, anytime, anyhow transactions to their commercial and retail customers, at a low total cost of ownership. For example, financial institutions can now choose from a wide array of trusted user platforms from VASCO, including hardware authenticators and smart cards, Digipass software, and Digipass-enabled mobile phones and PDA’s to conduct secure web-based transactions. It’s this combination of ubiquitous security with existing financial infrastructures that will drive successful e-commerce worldwide.”

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® and VACMAN® products offers end-to-end security through strong authentication and digital signature, true and secure Single Sign-On, access control, and web portal, LAN, and enterprise security, 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. More information is available at www.vasco.com.

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 contact:

Mike Lange, +1 630 932 8844, [email protected]

Investor Relations:
Annemieke Blondeel, +1 800 238 2726 or +44 208 308 7080, [email protected]