May 13, 2003

OAKBROOK TERRACE, Ill., and BRUSSELS, Belgium, May 13, 2003 - VASCO Data Security International, Inc. (Nasdaq: VDSI (http://www.vasco.com)), a global provider of security products that enable e-business and e-commerce, today announced it has reached an important milestone in the company’s history. Since its introduction in 1991, sales and orders for the Digipass strong authentication token have exceeded 10 million units. VASCO expects to ship and invoice the 10 millionth Digipass during 2003.

In the first years of VASCO’s history VASCO focused on one market, the banking and finance vertical, with a single Digipass model. As the company progressed, the expertise gathered by offering high-level strong authentication and digital signatures for banking transactions was used by VASCO to successfully develop other markets, such as the corporate network access and e-commerce markets. Simultaneously, VASCO started to diversify its Digipass product range, creating models that were especially suited for the unique markets the company was developing. Currently, VASCO’s hardware and software Digipass product family has 15 different models.

“To reach a number of 10 million sold Digipass strong authentication tokens is a great accomplishment,” said Jan Valcke, VASCO’s President and COO. “However, it is only a start. With the renewed attention of banks and other financial institutions for VASCO’s products and the fast growing number of companies using Digipass in the corporate network access sphere, we are convinced to do even better in the future. It took us 7 years to sell our first 1,5 million Digipass tokens. It will take us far less than 7 years from now to celebrate the sale of the 20 millionth Digipass.”

About VASCO: VASCO designs, develops, markets and supports patented “Identity Authentication” products for e-business and e-commerce. VASCO’s Identity Authentication software is delivered via its Digipass security products, small “calculator” hardware devices carried by an end user, or in a software format on mobile phones, other portable devices, and PCs. For user access control, VASCO’s VACMAN products guarantee that only designated Digipass users get access to the application. VASCO’s target markets are the applications and their several hundred million users that utilize fixed passwords as security. VASCO’s time-based system generates a “one-time” password that changes with every use, and is virtually impossible to hack, or break. With 10 million Digipass products sold and ordered, VASCO has established itself as a world-leader for strong Identity Authentication with 200 international financial institutions, approximately 1000 blue-chip corporations, and governments representing more than 50 countries.

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.

More information is available at www.vasco.com.

For more information contact:
Media: Jochem Binst: +32 2 456 9810, [email protected]
Investor Relations: Tony Schor, President, Investor Awareness, Inc.: 847-945-2222, [email protected]