NW_20020827_en_VASCO Data Security Appoints Clifford K. Bown Chief Financial Officer

August 27, 2002

OAKBROOK TERRACE, Illinois and BRUSSELS, Belgium – August 27, 2002 – VASCO (Nasdaq NM & Nasdaq Europe: VDSI; www.vasco.com), a global provider of enterprise-wide security products that support e-business and e-commerce, today announced the appointment of Clifford K. Bown to the position of Executive Vice President and Chief Financial Officer. In this position, Mr. Bown will be responsible for all accounting, treasury, investor relations, SEC reporting and compliance, financial controls, capital creation, and other financial matters for the Company worldwide. Mr. Bown will report directly to Mario Houthooft, President and CEO.

“Cliff brings a significant amount of relative experience to VASCO and its plans for future growth,“ stated Mario Houthooft, President and CEO at VASCO Data Security. “Cliff started his career with KPMG where he directed the audits for several publicly held companies, including a global leader that provides integrated and embedded communications solutions. He was CFO for publicly held XL/DATACOMP, a $300 million provider of midrange computer systems and support services in the U. S. and U. K. Cliff also held CFO positions in two other companies focused on insurance and healthcare.”

Cliff has his MBA from the University of Chicago, a B.S. in Accountancy from the University of Illinois, and his CPA certificate. He is trained in Total Quality Management principles.

Simultaneously, the company announced that Dennis D. Wilson, VASCO Data Security’s current EVP and CFO, has resigned to pursue other opportunities. Mr. Wilson will continue to serve the Company in a consulting role to assist in the transition of job responsibilities. As part of the transition of job responsibilities, Mr. Wilson filed the Company’s Second Quarter 10-Q on August 14, 2002, and signed the required certification documents as CFO.

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, digital signature, network Single Sign-On, and Radius, LAN and Web 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:
VASCO Data Security:
Jochem Binst:: +32 2 456 9810, [email protected]