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VASCO's Digipass 300 and VACMAN Authentication Server Products Receive OPSEC™ Certification from Check Point Software Technologies

Digipass 300 now interoperable with Check Point's Industry-Leading VPN-1/FireWall-1

OAKBROOK TERRACE, Il. and BRUSSELS, Belgium - July 12, 2001- VASCO (Nasdaq NM & Nasdaq Europe, VDSI; www.vasco.com), a global provider of security products that enable e-business and e-commerce, today announced that it has been granted OPSEC™ certification for the Digipass and VACMAN Authentication Server by Check Point™ Software Technologies Ltd. (Nasdaq: CHKP), the worldwide leader in securing the Internet. OPSEC certification ensures customers that Digipass seamlessly interoperates with Check Point's industry-leading VPN-1™/FireWall-1® security software. When used with Check Point VPN-1/FireWall-1 for remote access or authentication to a web server, the VASCO Digipass family of hardware and software authenticators provides businesses with a trusted, two-factor strong authentication solution. A charter member of the OPSEC Alliance, VASCO is a proven global leader in providing strong authentication solutions that protect access to corporate networks with more than five million Digipass users worldwide.

"Two-factor authentication using the Digipass authenticator provides Check Point customers with strong authentication and is a great alternative to static passwords," said Upesh Patel, manager of the OPSEC Alliance. "We are pleased to award OPSEC certification to VASCO for their Digipass 300 authenticator and VACMAN Authentication Server products."

Digipass authenticators work in tandem with back-end VACMAN authentication server software, a transparent authentication layer between users, corporate networks, web servers, and applications, to verify the user and generate a dynamic, one-time password to authorize access to the network. To obtain access and conduct business remotely, no matter the medium, users must have their PIN number, their proper log-in name, and the Digipass itself - creating a high level of protection against unauthorized access. And because Digipass can be used anytime, anywhere, anyhow, organizations obtain security that enables their network security needs as well as their e-business and e-commerce initiatives.

"Achieving compliance with the stringent interoperability guidelines and comprehensive testing of the OPSEC framework acknowledges Digipass as a best-of-breed security solution by the most successful alliance in the industry," said Jan Valcke, Executive Vice President of Sales and Marketing for VASCO. "With more than 270 alliance members, OPSEC is globally recognized as the industry standard for enabling a breadth of security applications and platforms that provide a truly seamless integrated Internet security infrastructure."

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About VASCO
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, true and secure Single Sign-On, access control, and web portal, LAN, and enterprise 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 Check Point's™ OPSEC®
OPSEC (Open Platform for Security) is the industry's open, multi-vendor security framework. With over 270 partners, OPSEC guarantees customers the broadest choice of best-of-breed integrated applications and deployment platforms that support Check Point's Secure Virtual Network Architecture. Products that carry the OPSEC Certified seal have been tested to guarantee integration and interoperability. For complete OPSEC Alliance program information, including partner and product listings, the freely available OPSEC SDK (software development kit) and evaluation versions of OPSEC Certified products, visit http://www.opsec.com.

Check Point, the Check Point logo, VPN-1, FireWall-1 and OPSEC are trademarks or registered trademarks of Check Point Software Technologies Ltd.

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:
Mike Lange, +1 630 932 8844, mbl@vasco.com

Investor Relations:
Annemieke Blondeel, +1 800 238 2726 or +44 208 308 7080, abl@vasco.com