NW_20081008_en_Banco de Chile Wins VASCO’s Market Vision Award for Latin America

October 8, 2008

OAKBROOK TERRACE, Illinois and ZURICH, Switzerland - October 8, 2008 - VASCO Data Security International, Inc. (Nasdaq: VDSI) (www.vasco.com), a leading software security company specializing in authentication today announced that leading Chilean bank Banco de Chile has been awarded VASCO’s Market Vision Award 2008.

Banco de Chile is the second biggest banking group of Chile offering a complete product range and financial services to over half a million users including large corporations, small and medium-sized enterprises and private customers. The bank implemented VASCO’s core authentication platform VACMAN Controller together with DIGIPASS Go 3 and Go 6 to secure its online banking platform. Banco de Chile was the first bank in Spanish speaking Latin America to make strong two-factor authentication available to its retail customers.

VASCO’s Market Vision Award consists of a bronze work of art by a renowned Belgian artist, Inge Dewilde. In order to honour the bank’s focus on innovation and its visionary approach of security in an e-banking environment, VASCO will organize an award ceremony at the banking summit in Buenos Aires (Argentina) on October 8.

“We awarded Banco de Chile because of the bank’s pioneering spirit and visionary approach of secure online banking,” said Jan Valcke, VASCO’s President and COO. “Banco de Chile was the first bank in Spanish speaking Latin America to make Digipass available to all its customers, even before the local regulator made two-factor authentication obligatory. With this award we honour the efforts of Banco de Chile to offer a convenient and accessible way for e-banking for both its retail and corporate customer base.”

About Banco de Chile
Banco de Chile is the largest Chilean-capital bank providing, directly and indirectly through its subsidiaries and affiliates, a variety of credit and non-credit products and services to all segments of the Chilean financial market. Its operations are organized in six principal business areas: large corporations; middle market companies; international banking; retail banking; treasury and money market operations, and operations through its subsidiaries. The brands of the Company include Banco de Chile, Banco Edwards| Citi, Banco CrediChile, Banco Atlas and Banchile.

VASCO is the number one supplier of strong authentication and e-signature solutions and services. VASCO has established itself as the world’s leading software company specialized in Internet Security, with a customer base of over 7,600 companies in more than 100 countries, including more than 1,150 international financial institutions. VASCO’s prime markets are the financial sector, enterprise security, e-commerce and e-government.

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 2 609 97 00, [email protected]