Vasco user authentication technology to be incorporated into V-One network security products.

LOMBARD, Ill.--(BUSINESS WIRE)--July 31, 1996--VASCO Corp. (OTC Symbol: VASC) announced today that under terms of a joint marketing/development agreement between its subsidiary VASCO Data Security, Inc. (VDSI) and V-ONE Corporation of Rockville, MD, a supplier of network security technologies, V-ONE will integrate VDSI's award winning AccessKey(TM) II into its SmartWall(TM) and SmartGATE(TM) products.

These products will provide an optional challenge/response extended user authentication.

"We are pleased to partner with V-ONE to develop new applications for our AccessKey technology," stated John Haggard, President of VDSI. "Now more than ever, knowing `who' is accessing a system is key to successfully implementing initiatives such as on-line banking, Internet commerce and remote access to sensitive corporate data."

V-ONE's Bill Wilson, Vice President of Operations, adds, "we are committed to enhancing existing products to ensure we provide the best mix of security options to fit any company's needs. Incorporating AccessKey II into our SmartWall and SmartGATE products allows us to offer highly secure, two-factor user authentication, as well as the freedom to be authenticated from any computer, with or without a smart card reader."

SmartWall is a dual-homed, application level gateway firewall that provides mutual authentication and encryption with fine-grained data access control. SmartWall supports multiple gateway proxies and authentication protocols, including smart card methodology and the federal government's FORTEZZA standard.

SmartGATE is in a new class of security products which allows virtually any TCP/IP application to run securely on public networks like the Internet in addition to providing mutual authentication to the user level, session encryption and database protection.

VASCO's AccessKey II is a hand-held device that incorporates two-factor extended user authentication in a patented optical challenge and response system. The key reads a flashing barcode challenge, displayed on screen, and generates a unique password with each use. AccessKey II eliminates the need to remember computer passwords, making it ideal for remote-access network security applications.

About V-ONE

V-ONE Corporation is a provider of network security technologies. The highest levels of the defense and intelligence agencies of the United States government, as well as Fortune 100 corporations use V-ONE technology to defend their networks. V-ONE's product line includes: SmartWall(TM), a dual-homed, application level gateway firewall with mutual authentication and encryption and SmartGATE(TM), a client-server security system that provides a secure encrypted channel between applications outside a firewall and the application server software behind a firewall.

V-ONE is headquartered in Rockville, MD and has additional offices in San Francisco, CA and New York, NY. Additional information is available on the World Wide Web at http://www.v-one.com.

About VASCO Corp.

VASCO Corp., headquartered in Lombard, IL, and its foreign and domestic subsidiaries offer information security technologies, consulting and training that enable companies to achieve corporate initiatives and improve profitability. Since initiating its strategy in 1986, VASCO, through strategic acquisitions and internal growth, has become a leader in computer security authentication devices, with over 1.5 million units in use today.

The Company's computer security subsidiaries include VASCO Data Security, Inc., headquartered in Lombard, as well as Lintel SECURITY and Digipass s.a., both of Brussels, Belgium. VASCO's patented and proprietary hardware and software security products provide computer security, Extended User Authentication (EUA) and RSA/DES encryption for financial institutions, industry and government.

Additional information is available on the World Wide Web at www.vdsi.com.

Standard & Poor's CORPORATION RECORDS provides coverage on VASCO Corp. (OTC Symbol: VASC). -0-

AccessKey is a trademark of VASCO Data Security, Inc. SmartWall and SmartGATE are trademarks of V-ONE Corporation. Other trademarks belong to their respective holders.

CONTACT: Rob Anderson

Geltzer & Company, Inc. for VASCO

[phone]

or

Jim Reed

V-ONE Corporation

[phone] ext. 220

or

VASCO Corp.

Rick Vaden, Vice President, Business Development

voice: 301-937-8220

fax: [phone]

e-mail: [e-mail]

WWW: http://www.vdsi.com