NW_20030506_John R. Walter Elected to Board of VASCO Data Security International, Inc.

May 6, 2003

OAKBROOK TERRACE, Ill., and BRUSSELS, Belgium, May 6, 2003 - VASCO Data Security International, Inc. (Nasdaq: VDSI) ( www.vasco.com), a global provider of security products that enable e-business and e-commerce, today announced that John R. Walter has been elected to VASCO’s Board of Directors.

John R. Walter, 56, is the retired President and Chief Operating Officer of AT&T, where he was responsible for day-to-day operations of the company’s core long-distance, local, wireless and on-line services businesses, as well as its credit card and outsourcing businesses. He is the former Chairman, President and CEO of R.R. Donnelley and Sons, a world leader in the print industry. He also held the position of Chairman of the Board of Manpower, Inc.

Mr. Walter serves on the board of directors of Abbott Laboratories, Deere & Company, Manpower, Inc., Applied Graphics Technologies and SNP Corporation of Singapore. He is a trustee of the Chicago Symphony Orchestra and Northwestern University. Mr. Walter also serves on the International Advisory Council of the Singapore Economic Development Board and is a director of the Evanston Northwestern Healthcare Corporation, the Executives’ Club of Chicago, Chicago Council on Foreign Relations and Steppenwolf Theatre. He is a member of the Board of Advisors of Brookfield Zoo.

“VASCO and its Board of Directors are delighted to have someone of John’s caliber join its Board,” stated T. Kendall Hunt, VASCO’s Chairman and CEO. “As we develop our business on a global -scale, John’s management experience and international relationships will serve the Company well.”

“I am pleased to join VASCO’s Board, and I am looking forward to contributing to its future success, said Mr. Walter. “I am particularly excited about becoming involved in the rapidly growing information security industry.”

About VASCO: VASCO designs, develops, markets and supports patented “Identity Authentication” products for e-business and e-commerce. VASCO’s Identity Authentication software is delivered via its Digipass security products, small “calculator” hardware devices carried by an end user, or in a software format on mobile phones, other portable devices, and PCs. For user access control, VASCO’s VACMAN products guarantee that only designated Digipass users get access to the application. VASCO’s target markets are the applications and their several hundred million users that utilize fixed passwords as security. VASCO’s time-based system generates a “one-time” password that changes with every use, and is virtually impossible to hack, or break. With 8 million Digipass products sold and shipped, VASCO has established itself as a world-leader for strong Identity Authentication with 200 international financial institutions, approximately 800 blue-chip corporations, and governments representing more than 50 countries.

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.

More information is available at www.vasco.com.

For more information contact:
Media: Jochem Binst: +32 2 456 9810, [email protected]
Investor Relations: Tony Schor, President, Investor Awareness, Inc.: 847-945-2222, [email protected]