NW_20020115_VASCO Meets Q4 2001 Revenue Expectations, anticipated to be $6M

January 15, 2002

OAKBROOK TERRACE, Ill. and BRUSSELS, Belgium, January 15, 2002 -- VASCO Data Security International, Inc. (NASDAQ & NASDAQ Europe: VDSI; www.vasco.com), a global provider of security products that enable e-business and e-commerce, today announced that revenues for the quarter ended December 31, 2001 are approximately $ 6.0 M, at the top end of previous guidance of $5 M to $6 M. Also in line with previous guidance, revenue for the full year 2001 is expected to be $26.7 M. A full earnings announcement will be made on February 22, 2002.

During the year, the Company signed with some 285 new customers, including over 70 in Q4. Geographic expansion continued with new customers in the Middle East and Central America, as well as continued increases in customers in Europe, including Eastern and Northern Europe, the USA and Asia-Pacific.

Over the full year 2001, VASCO delivered 2 million Digipass to its customers.
VASCO also continued to grow its VASCO Ready Partner Network, which it believes will allow the company to substantially increase its future VACMAN Server software sales.

“During the fourth quarter we have implemented a substantial restructuring which has allowed the Company to concentrate on its core business: strong authentication and digital signature as embodied in our Digipass product family, and secure Internet and remote access to corporate networks with our VACMAN Server products. This has resulted in revenues in line with expectations and should allow us to be profitable for the year 2002," stated Mario Houthooft, VASCO’s President and Chief Executive Officer.

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 and digital signature, enterprise Single Sign-On, and LAN 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:
Media: Jochem Binst, +32 2 456 9810, [email protected]
Investor Relations: Annemieke Blondeel, USA +1 630 932 8844, Europe +32 2 456 9810, [email protected]