NW_20010323_en_VASCO Expands Daniel Mouly’s CTO Role with Worldwide Research and Development Responsibility

March 23, 2001

OAKBROOK TERRACE, Ill. and BRUSSELS, Belgium -- March 23, 2001 -- VASCO (NASDAQ & EASDAQ: VDSI), a global provider of enterprise-wide security solutions that support e-business and e-commerce, today expanded the role of its Chief Technology Officer, Daniel Mouly. With more than 20 years’ experience developing and managing security software products, Mouly is now responsible for implementing the Company’s product direction as head of worldwide R&D for the Company. He replaces Jonathan Chinitz in the position, who has resigned from VASCO due to personal reasons.

“Heading up VASCO’s global research and development goes hand-in-hand with Daniel’s role as chief architect of our company’s product vision and direction,” said Mario Houthooft, President and CEO of VASCO. “His extensive security software development expertise, as both a developer and manager, is ideally suited to help VASCO continue our rapid growth as a leading global provider of software products that secure business.”

As a software engineer with more than 20 years of experience in the security industry, Daniel Mouly began his career as a Customer Engineer with IBM in charge of MVS system software support. After serving as Systems Engineer for leading airplane manufacturer Aerospatiale, and Information Systems Technical Manager for Crédit Agricole – one of the largest banks in France – Daniel founded his own security software development and consulting company. His company specialized in implementing security solutions throughout the enterprise, with particular expertise in secure web servers and mainframes, and in porting security products to all the leading computing platforms in use by businesses today. After his company’s merger with VASCO, Daniel led a team that designed and developed several new products and product enhancements that represent a key part of the VASCO line of e-security solutions.

“I’m pleased to help create VASCO’s strategic direction as a global software security company and to transform that vision into market-driven security products,” Mouly noted. “We have the people, skills, products, and commercial relationships that will help us accelerate product development even further going forward.”

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. 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): Nico Tempelaere, Outsource, +32 2 361 31 20, [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]