ActivCard Receives Approval for Voluntary De-Listing from Nasdaq Europe

ActivCard Shares Remain Listed On NASDAQ National Market

FREMONT, Calif., Aug. 27 /PRNewswire-FirstCall/ — ActivCard(R) (Nasdaq: ACTI) announced it received approval for a voluntary de-listing from the NASDAQ Europe stock market. ActivCard Corp. shares will now be exclusively traded on the NASDAQ National Market only.

Since admission of ActivCard to trading on the Nasdaq National Market in March 2000, trading in ActivCard shares on the NASDAQ Europe Stock Market gradually decreased. In connection with NASDAQ’s decision to close NASDAQ Europe, the ActivCard Board of Directors decided to de-list from NASDAQ Europe.

The last day that ActivCard shares will be traded on the NASDAQ Europe Stock Market is September 11, 2003. After de-listing and consolidation of the listing of the ActivCard shares, existing ActivCard shareholders will not have to take any action to transfer shares. Nor will they incur any additional costs as a result of the de-listing.

Shareholders can continue to trade ActivCard shares on the NASDAQ National Market.ActivCard shareholders can continue to obtain quarterly releases, publications and other information on the Company web site at www.activcard.com, from the Securities and Exchange Commission web site at www.sec.gov, and from the Nasdaq web site at www.nasdaq.com.

About ActivCard
ActivCard is the leader in IDentity Management (IDM) software for secure remote access, secure sign-on and digital identity card solutions. Our scalable IDM and strong authentication solutions are trusted by organizations — from enterprise to governments around the world. ActivCard IDM systems deliver maximum Return On Identity(TM) (ROI) through increased security, reduced cost, and user convenience. The modular product design allows our customers to add capabilities as required, preserving their investment.

The statements in this press release that are not historical facts are forward-looking statements that involve risks and uncertainties, including risks associated with fluctuations in operating results, our history of losses, the concentration of our customer base, our reliance on strategic relationships, acquisitions and managing our future growth, and other risks identified in our periodic filings with the United States Securities and Exchange Commission, including but not limited to those appearing under the caption “Risk Factors” in our Quarterly Report on Form 10Q for the fiscal quarter ended on June 30, 2003. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ActivCard disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

NOTE: ActivCard is a registered trademark and ActivCard Return on Identity is a trademark of ActivCard in the United States and/or other countries. All other trademarks are the property of their respective owners in the United States and/or other countries.




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