NW_20020531_en_VASCO Recognizes Fortis and Telindus for their Outstanding Accomplishments in Securing Trust and Value for their Customers and Partners

May 31, 2002

OAKBROOK TERRACE, Ill. and BRUSSELS, Belgium – May 31, 2002 – VASCO Data Security International (Nasdaq NM & Nasdaq Europe:VDSI: www.vasco.com), a global provider of enterprise-wide security products that support e-business, today announced that it has awarded Fortis Bank, the international financial services provider, and Telindus , the European expert in data and telecommunications networks, with membership in VASCO’s Diamond Art Community for their outstanding accomplishments within the security sector. Both companies receive a work of art from the Diamond Art Collection created by the Belgian artist Etienne Bruneel. VASCO earlier awarded Rabobank (Netherlands), OCBC (Singapore) and SEB (Sweden).

Fortis was chosen for its longstanding visionary approach to security. In 1992, Fortis (Generale Bank) became the first large banking institution using VASCO’s Digipass to secure a telephone banking application. Fortis then used VASCO’s Digipass 500. Now, 10 years later, Fortis is still going strong by securing its customers’ data via VASCO’s Digipass 550.

Telindus and VASCO are established partners, having worked together since 1996. Telindus not only acts as a worldwide value added reseller to VASCO, but both companies co-operate in the development of security systems, suggest possible new solutions to each other, and go together to the market. Therefore, Telindus is the first non-banking institution to be awarded this honor by VASCO.

“By awarding Telindus and Fortis, VASCO shows its appreciation for both companies’ vision, efforts and service in the security field” said Mario Houthooft, VASCO’s President & CEO. “We have worked splendidly together for many years, and we are convinced that the future also will be fruitful for Telindus, Fortis, their customers and VASCO, in our joint battle to secure the trust and the value of all parties involved.”

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, digital signature, network Single Sign-On, and Radius, LAN and Web 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.

About Fortis
Fortis is an international financial services provider active in the fields of insurance, banking and investment. With a market capitalization of EUR 37.7 billion and around 69,000 employees, Fortis ranks among the twenty largest financial institutions in Europe. At year-end 2001 Fortis had total assets of EUR 483 billion and its net profit amounted to EUR 2.6 billion.
In its home market, the Benelux countries, Fortis occupies a leading position and offers a broad range of financial services to individuals, companies and the public sector. Outside its home market, Fortis concentrates on selected market segments.

About Telindus
The publicly listed, Belgium headquartered Telindus Group (listed on Euronext Brussels, ticker TEL) is a European expert in data and telecommunications networks.
Telindus has extensive expertise in all areas of modern telecommunications applications and technologies including LAN, MAN, WAN, Internet, E-business, network access and security, VOIP, VPN, fixed and mobile communication.
Founded in 1969, the Telindus Group currently employs over 2,400 people across sixty establishments spanning seventeen countries in addition to an extensive network of global agents across all continents.
Telindus has a broad portfolio of customers and can offer both regional and pan European references in virtually every industry sector.
Telindus has its corporate headquarters at 335 Geldenaaksebaan, Heverlee (close to the city of Leuven), B-3001 in Belgium. For more information on Telindus' networking solutions and services, please visit www.telindus.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:

Jochem Binst, +32 2 456 9810, [email protected]
Investor Relations:
Annemieke Blondeel, USA +1 630 932 8844, Europe +44 20 8298 99 60, [email protected]