VASCO reports record revenues; VASCO Data Security up 68%

Business Wire, Jan 30, 1996

LOMBARD, Ill.--(BUSINESS WIRE)--Jan. 30, 1996--VASCO Corp. (VASCO) announced Tuesday a record $1.5 million in consolidated revenues for the quarter ended Dec. 31, 1995.

This is a 40% increase over the quarter ended Dec. 31, 1994.

Consolidated revenues for the year ended Dec. 31, 1995, were $3.8 million, as compared to consolidated revenues of $2.74 million for the year ended Dec. 31, 1994, an increase of 39%. VASCO's subsidiary, VASCO Data Security Inc. (VDSI), increased revenues from $1.51 million for the year ended Dec. 31, 1994 to $2.55 million for the year ended Dec. 31, 1995, an increase of 68%. In addition, VDSI closed 1995 with a scheduled delivery backlog in excess of $2 million.

One of VDSI's key products is Access Key II, a rugged, high quality, pocket-sized device with an LCD display and numeric keypad which incorporates 2-factor authentication when using the PIN function. Access Key II uses a patented optical challenge and response system for increased security on computer networks.

The key optically reads a flashing challenge displayed on the computer screen or the user may enter via the numeric keypad on the key itself for remote usage. In both cases, Access Key II generates a unique password with each use, making password protection easy and more secure.

An innovative network access security solution, Access Key II eliminates the need to remember computer passwords, making it ideal for dial-in network security applications. There is an emerging demand by corporations and other organizations to connect their private networks to the Internet for global communications. Access Key II is pivotal to authenticating the remote user for secure use of this rapidly growing public network.

VASCO and VDSI improve the productivity and profitability of their clients through consulting, training and the application of technology. VDSI designs, develops and markets a family of hardware and software security products used to manage and protect access to a wide-range of computer-based information resources.

VDSI's patented and proprietary products provide computer security, Extended User Authentication (EUA), and virus protection for financial institutions, industry and government.

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

CONTACT: VASCO Corp., Lombard

Ken Hunt, 708/495-0755

708/495-0279 (fax)

email: tkh@vasco.com

world-wide web address: http://www.vdsi.com