NW_20010215_en_Signing of OCBC Bank in Singapore Extends VASCO’s Market Leadership in e-Banking Security

February 15, 2001

SINGAPORE – February 15, 2001 – US-based VASCO (NASDAQ & EASDAQ: VDSI; www.vasco.com), a global provider of security solutions that enable e-business and e-commerce, announced today that OCBC Bank, one of Singapore’s leading financial institutions, is securing its online banking with VASCO’s market-leading Digipass strong authentication and digital signature technology. As part of its mission to be a world-class financial institution in Asia/Pacific, OCBC Bank seeks to provide superior customer service, particularly through the use of technology. The bank joins more than 150 financial institutions worldwide that are safeguarding sensitive data and online transactions of millions of customers with Digipass.

“We applaud OCBC Bank for choosing the world standard in online banking security to protect its customers,” said Jan Valcke, Executive Vice President of Sales and Marketing for VASCO. “OCBC Bank represents further proof of why Digipass technology is being adopted by an ever-growing number of banks and corporations, and showcases the success of our global growth strategy. We expect strong sales growth for all VASCO products in the Asia/Pacific region in the months and years to come from financial institutions as well as corporations and government agencies.”

“The privacy of our customers’ information and security of their accounts and transactions is of paramount importance to us, so we have made every effort to ensure they receive the most effective security available,” said Mr. Ching Wei Hong, Head of eSolutions, OCBC Bank. “It was VASCO’s unmatched record in providing security to the financial industry, along with Digipass’ ability to digitally sign transactions for an extra level of security, that made VASCO the clear choice for placing our trust.”

About VASCO
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 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:

Americas:
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]

Europe/Asia:
Media (Benelux): Nico Tempelaere
Outsource
+32 2 361 31 20
nico.tempelae[email protected]

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

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

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