NW_20041130_ING Luxemburg To Use VASCO’s Digipass GO3 for Retail Banking

November 30, 2004

OAKBROOK TERRACE, Ill., and BRUSSELS, Belgium, November 30, 2004 - VASCO Data Security International, Inc. (NASDAQ: VDSI), (www.vasco.com), the global number one vendor of strong user authentication products to the financial sector, today announced that ING Luxemburg (www.ing.lu ) will offer Digipass GO3 to its retail customers. ING Luxemburg ordered 10,000 units of VASCO’s successful one-button token and is the first bank in Luxemburg to offer Digipass to its retail customers.

ING Luxemburg is one of the leading investor’s banks in the Grand Duchy of Luxemburg and is a 100% daughter of ING Belgium. ING Luxemburg is active in the field of Personal Banking, Private Banking, Corporate/Institutional Banking and Management of Funds. ING was the first bank in Luxemburg to offer its customers free of cost Internet banking. With the introduction of Digipass GO 3, it will be the first bank in Luxemburg to offer its customers secure and phishing-free Internet banking.

Digipass GO3 is a lightweight, low cost strong user authentication token, especially designed for the large volume banking market. GO3 is extremely easy to use - with a simple touch of a button, the customer generates a unique one-time password. The password changes every 36 seconds and can be only used once, which means that it can’t be re-used by fraudsters. Digipass GO3 is VASCO’s answer to banks that want to give their customers a simple though secure means to use Internet banking applications.

The Grand Duchy of Luxemburg is one of the world’s most important financial hubs, with around 200 financial institutions. In 2001, the net active of placements with banks in Luxemburg totalled over 800 billion Euro, which makes Luxemburg the most important financial centre in Europe.

According to ING Luxemburg, security and user friendliness are of the utmost importance for any Internet banking operation. “We opted for VASCO’s Digipass GO3 because of its quality, ease of use, competitive pricing and VASCO’s extensive experience as a supplier of strong authentication products to the financial sector.”

“It is our pleasure to have ING Luxemburg as a VASCO customer,” said Jan Valcke, VASCO’s President and COO. “Luxemburg is a very important banking market. The Internet will prove to be a crucial channel for retail investors having assets in Luxemburg, since they often live abroad. Digipass and ING Luxemburg’s e-banking application open the road to secure retail e-banking in the Grand Duchy.”

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 hardware and software security products. For user access control, VASCO’s VACMAN products guarantee that only designated Digipass users get access to the application. With over 12 million Digipass products sold and shipped, VASCO has established itself as a world-leader for strong Identity Authentication with more than 300 international financial institutions and over 1,400 blue-chip corporations and governments located in more than 80 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.

Jochem Binst
Phone: +32 245 69 810
[email protected]