NW_20001205_en_VASCO Names Worldwide Marketing Executive to Further Drive Company’s Brand Awareness and Revenue

December 5, 2000

OAKBROOK TERRACE, Ill. – December 4, 2000 – US based VASCO (NASDAQ & EASDAQ: VDSI), a global provider of enterprise-wide security solutions, today announced that it has named Mr. Stephen L. Axel, 45, as Chief Marketing Officer. In this role, he has worldwide responsibility for building VASCO’s brand equity and market share across all VASCO’s channels. Mr. Axel will report to Mr. Jan Valcke, Executive Vice President of Sales and Marketing for VASCO.

"We’re pleased to have Stephen and his proven marketing expertise on board,” said Mr. Mario Houthooft, President and CEO of VASCO. “He joins us at a period where our revenues and our working capital have never been better, with a steady stream of new products and new customers in existing and new markets – which we expect to result in record sales volume for our company in 2000. Stephen will work closely with our worldwide sales team in this exciting time to build greater awareness of our company and further drive sales of our leading security products.”

Mr. Axel brings more than 20 years of marketing experience to VASCO, having produced successful sales and revenue-generating marketing programs for such leading companies as Caremark International, where he served as Vice President of Marketing, Baxter International, and Sabratek. He has extensive and proven expertise in brand strategy and management, product positioning, and the development of integrated marketing campaigns that produce breakthrough results. A graduate of the University of California-Santa Barbara with a degree in Business Economics, Mr. Axel received his MBA degree from Northwestern University’s J.L. Kellogg School of Management.

“I’m excited to join such a dynamic and successful organization,” Mr. Axel stated. “In the fast-growing security products arena, I believe few companies can match VASCO’s solid base of hundreds of financial, corporate, and government customers, its rapid growth in existing and new markets around the globe, and the company’s leadership in securing remote transactions for more than 150 financial institutions and millions of customers. We have a great story to tell, with satisfied customers worldwide to help us tell it, and I’m eager to get our powerful message out to all our key audiences.”

VASCO, a US corporation with a presence worldwide, 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 SnareWorks® products offers end-to-end security through strong authentication and digital signature, true Single Sign-On, access control and advanced entitlements, web portal security, 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 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 Brokat, Check Point Software Technologies, Computer Associates, Intel, Netlife, Novell, Proton World, and Ubizen. 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:

Media: Kerry Roche
Bridgeman Communications
+1 617 742 7270
[email protected]

Investor Relations: Todd Fromer
KCSA Public Relations Worldwide
+1 212 682 6300
[email protected]

VASCO: Mike Lange
+1 630 932 8844
[email protected]

Media (Benelux): Bob Pieters
Anthonissen & Associates
+32 3 286 7777
[email protected]

Media (Europe/Asia): Sven Kersten
+49 89 99 38 87 33
[email protected]

Investor Relations: Annemieke Blondeel
+44 208 308 7080
[email protected]

VASCO: Ariane Bosmans
+32 2 456 9810
[email protected]