<SUBMISSION>
<ACCESSION-NUMBER>0000891618-03-001191
<TYPE>SC 13G/A
<PUBLIC-DOCUMENT-COUNT>1
<FILING-DATE>20030311
<GROUP-MEMBERS>ELLENSBURG HOLDING PTE LTD ("EHP")
<GROUP-MEMBERS>LEE KHENG NAM ("LEE")
<GROUP-MEMBERS>SINGAPORE TECHNOLOGIES PTE LTD ("STPL")
<GROUP-MEMBERS>VERTEX ASIA LIMITED ("VAL")
<GROUP-MEMBERS>VERTEX INVESTMENT (II) LTD ("VI2")
<GROUP-MEMBERS>VERTEX INVESTMENT INTERNATIONAL (III) INC. ("VII3")
<GROUP-MEMBERS>VERTEX MANAGEMENT (II) PTE LTD ("VM2")
<FILED-BY>
<COMPANY-DATA>
<CONFORMED-NAME>VERTEX VENTURE HOLDINGS PTE LTD
<CIK>0001104064
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC 13G/A
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>77 SCIENCE PARK DRIVE #02-15
<STREET2>#02-15 LINTECH III,
<CITY>SINGAPORE
<STATE>U0
</BUSINESS-ADDRESS>
</FILED-BY>
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>ACTIVCARD CORP
<CIK>0001183941
<ASSIGNED-SIC>7372
<IRS-NUMBER>450485038
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC 13G/A
<ACT>34
<FILE-NUMBER>005-78939
<FILM-NUMBER>03598668
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>6623 DUMBARTON CIRCLE
<CITY>FREMONT
<STATE>CA
<ZIP>94555
<PHONE>5105710100
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>6623 DUMBARTON CIRCLE
<CITY>FREMONT
<STATE>CA
<ZIP>94555
</MAIL-ADDRESS>
</SUBJECT-COMPANY>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>f87634a2sc13gza.htm
<DESCRIPTION>AMENDMENT #2 TO SCHEDULE 13G
<TEXT>
<HTML>
<HEAD>
<TITLE>Vertex Amendment #2 to Schedule 13G (ActivCard)</TITLE>
</HEAD>
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<TR><TD align="center" nowrap><FONT size="2">OMB APPROVAL</FONT></TD></TR>
<TR><TD nowrap><FONT size="2">OMB Number: 3235-0145</FONT></TD></TR>
<TR><TD nowrap><FONT size="2">Expires: December 31, 2005</FONT></TD></TR>
<TR><TD nowrap><FONT size="2">Estimated average burden<BR>
hours per response...11</FONT></TD></TR></TABLE>

<BR clear="right">
<BR clear="right">

<P align="center"><FONT size="4">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</FONT><BR>
<FONT size="3">Washington, D.C. 20549</FONT>

<P align="center"><FONT size="5">SCHEDULE 13G</FONT>

<P align="center"><FONT size="2">Under the Securities Exchange Act of 1934<BR>
(Amendment No. 2)*<sup>(1)</sup></FONT>

<P align="center"><FONT size="2">ActivCard Corp.</FONT><BR>
<HR size="1" noshade>
<CENTER><FONT size="2">(Name of Issuer)</FONT></CENTER>

<P align="center"><FONT size="2">Common Stock(1)</FONT><BR>
<HR size="1" noshade>
<CENTER><FONT size="2">(Title of Class of Securities)</FONT></CENTER>

<P align="center"><FONT size="2">00506J10</FONT><BR>
<HR size="1" noshade>
<CENTER><FONT size="2">(Cusip Number)</FONT></CENTER>

<P align="center"><FONT size="2">December 31, 2002</FONT><BR>
<HR size="1" noshade>
<CENTER><FONT size="2">(Date of Event Which Requires Filing of this Statement)</FONT></CENTER>

<P><FONT size="2">Check the appropriate box to designate the rule pursuant to which this Schedule is filed:</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT face="wingdings">&#111;</FONT><FONT size="2">&nbsp;Rule&nbsp;13d-1 (b)</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT face="wingdings">&#120;</FONT><FONT size="2">&nbsp;Rule&nbsp;13d-1 (c) &#151; For Ellensburg Holding Pte Ltd</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT face="wingdings">&#120;</FONT><FONT size="2">&nbsp;Rule&nbsp;13d-1 (d) &#151; For other reporting persons</FONT>

<P><FONT size="2">*The remainder of this cover page shall be filled out for a reporting person&#146;s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.</FONT>

<P><FONT size="2">The information required in the remainder of this cover page shall not be deemed to be &#147;filed&#148; for the purpose of Section&nbsp;18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the notes).</FONT>

<P align="center"><FONT size="2">&nbsp;</FONT>
<P><FONT size="2">Persons who respond to the collection of
information contained in this form are not required to respond unless
the form displays a currently valid OMB control number.</FONT>
<P align="center"><FONT size="2">&nbsp;</FONT>
<P><FONT size="2">(1) This Schedule 13G amends the Schedule 13G filed by the Reporting Persons with respect to ActivCard S.A. for December 31, 2001. As of December 31, 2002, the reporting persons owned common shares of ActivCard S.A. On February 4, 2003, ActivCard Corp. and ActivCard S.A. announced the expiration and closing of ActivCard Corp.'s registered exchange offer for all of the outstanding common shares and American depository shares of ActivCard S.A. As a result, while the reporting persons owned common shares of ActivCard S.A.
as of December 31, 2002, these shares have since been exchanged, on a one for one basis, for shares of common stock of ActivCard Corp.<BR></FONT>
<P align="center"><FONT size="2">Page 1 of 14</FONT>
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<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
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<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
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<TD width="28%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="14%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="45%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
<TD colspan="7" align="center"><FONT size="2">13G</FONT></TD>
</TR>

<TR>
<TD colspan="7"><FONT size="2">CUSIP No. 00506J10</FONT> </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">1.</FONT></TD>
<TD valign=top colspan=3><FONT size="2">Name of Reporting
Person:<BR>Vertex Investment (II) Ltd (&#147;VI2&#148;)</FONT></TD>
<TD valign=top colspan=2><FONT size="2">I.R.S. Identification Nos. of above persons (entities only):<BR>
</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">2.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">Check the Appropriate Box if a Member of a Group:</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(a)</FONT></TD>
<TD valign=top><FONT face="wingdings">&#111;</FONT></TD>
<TD valign=top colspan=3><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(b)</FONT></TD>
<TD valign=top><FONT face="wingdings">&#120;</FONT></TD>
<TD valign=top colspan=3><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">3.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">SEC Use Only:</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">4.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">Citizenship or Place of Organization:<BR>Singapore</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR><TD colspan="3" rowspan="8" align="center"><FONT size="2">Number of<BR>Shares<BR>Beneficially<BR>Owned by<BR> Each Reporting<BR>Person With</FONT></TD></TR>

<TR><TD valign=top><FONT size="2">5.</FONT></TD>
<TD valign=top colspan=3><FONT size="2">Sole Voting Power:<BR>--</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">6.</FONT></TD><TD valign=top colspan=3> <FONT size="2">Shared Voting Power:<BR>898,557 shares(2)</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">7.</FONT></TD><TD valign=top colspan=3> <FONT size="2">Sole Dispositive Power:<BR>--</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">8.</FONT></TD><TD valign=top colspan=3><FONT size="2">Shared Dispositive Power:<BR>898,557 shares(2)</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">9.</FONT></TD><TD valign=top colspan=5><FONT size="2">Aggregate Amount Beneficially Owned by Each Reporting Person: <BR>898,557 shares(2)</FONT></TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">10.</FONT></TD><TD valign=top colspan=5><FONT size="2">Check if the Aggregate Amount in Row (9) Excludes Certain Shares:<BR><FONT face="wingdings">&#111;</FONT></FONT></TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">11.</FONT></TD><TD valign=top colspan=5><FONT size="2">Percent of Class Represented by Amount in Row (9):<BR>2.2* and see footnote (3) below</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">12.</FONT></TD><TD valign=top colspan=5><FONT size="2">Type of Reporting Person:<BR>CO</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>
</TABLE>
<P><FONT size="2">(2) Vertex Management (II) Pte Ltd (&#147;VM2&#148;) and its President, Mr. Lee Kheng Nam, may be deemed to have the power to vote and dispose of these shares pursuant to a power of attorney granted by the reporting person to VM2. In addition, Vertex Venture Holdings Ltd (&#147;VVH&#148;), as the holder of more than 45% o
f the outstanding shares of VI2, Ellensburg Holding Pte Ltd
(&#147;EHP&#148;), as the parent of VVH, and Singapore Technologies
Pte Ltd (&#147;STPL&#148;), as the parent of EHP, may be deemed to have the power to vote and dispose of these shares. <P> (3) Represents 2.3% of the outstanding shares of common stock of ActivCard Corp., based on 39,827,666 shares of common stock outstanding as of February 7, 2003.<P> * Based on 41,540,000 common shares of ActivCard S.A. outstanding as of September 30, 2002. <BR></FONT>
<P align="center"><FONT size="2">Page 2 of 14</FONT>

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<TD width="28%"><FONT size="2">&nbsp;</FONT></TD>
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<TD width="45%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
<TD colspan="7" align="center"><FONT size="2">13G</FONT></TD>
</TR>

<TR>
<TD colspan="7"><FONT size="2">CUSIP No. 00506J10</FONT> </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">1.</FONT></TD>
<TD valign=top colspan=3><FONT size="2">Name of Reporting Person:<BR>Vertex Investment International (III) Inc. (&#147;VII3&#148;)</FONT></TD>
<TD valign=top colspan=2><FONT size="2">I.R.S. Identification Nos. of above persons (entities only):<BR>
</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">2.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">Check the Appropriate Box if a Member of a Group:</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(a)</FONT></TD>
<TD valign=top><FONT face="wingdings">&#111;</FONT></TD>
<TD valign=top colspan=3><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(b)</FONT></TD>
<TD valign=top><FONT face="wingdings">&#120;</FONT></TD>
<TD valign=top colspan=3><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">3.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">SEC Use Only:</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">4.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">Citizenship or Place of Organization:<BR>British Virgin Islands</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR><TD colspan="3" rowspan="8" align="center"><FONT size="2">Number of<BR>Shares<BR>Beneficially<BR>Owned by<BR> Each Reporting<BR>Person With</FONT></TD></TR>

<TR><TD valign=top><FONT size="2">5.</FONT></TD>
<TD valign=top colspan=3><FONT size="2">Sole Voting Power:<BR>--</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">6.</FONT></TD><TD valign=top colspan=3> <FONT size="2">Shared Voting Power:<BR>2,020,031 shares(4)</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">7.</FONT></TD><TD valign=top colspan=3> <FONT size="2">Sole Dispositive Power:<BR>--</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">8.</FONT></TD><TD valign=top colspan=3><FONT size="2">Shared Dispositive Power:<BR>2,020,031 shares(4)</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">9.</FONT></TD><TD valign=top colspan=5><FONT size="2">Aggregate Amount Beneficially Owned by Each Reporting Person: <BR>2,020,031 shares</FONT></TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">10.</FONT></TD><TD valign=top colspan=5><FONT size="2">Check if the Aggregate Amount in Row (9) Excludes Certain Shares:<BR><FONT face="wingdings">&#111;</FONT></FONT></TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">11.</FONT></TD><TD valign=top colspan=5><FONT size="2">Percent of Class Represented by Amount in Row (9):<BR>4.9* and see footnote (5) below</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">12.</FONT></TD><TD valign=top colspan=5><FONT size="2">Type of Reporting Person:<BR>CO</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>
</TABLE>
<P><FONT size="2">(4) Of these shares, 2,020,021 are owned directly by VII3 and 10 are held by Mr. Lee Kheng Nam in trust for VII3. VV
H, as the parent of VII3, EHP, as the parent of VVH, and STPL, as the
parent of EHP, may also be deemed to have the power to vote and
dispose of these shares. <P> (5) Represents 5.1% of the outstanding shares of common stock of ActivCard Corp., based on 39,827,666 shares of common stock outstanding as of February 7, 2003. <P> * Based on 41,540,000 common shares of ActivCard S.A. outstanding as of September 30, 2002. <BR></FONT>
<P align="center"><FONT size="2">Page 3 of 14</FONT>

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<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="28%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="14%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="45%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
<TD colspan="7" align="center"><FONT size="2">13G</FONT></TD>
</TR>

<TR>
<TD colspan="7"><FONT size="2">CUSIP No. 00506J10</FONT> </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">1.</FONT></TD>
<TD valign=top colspan=3><FONT size="2">Name of Reporting Person:<BR>Vertex Asia Limited (&#147;VAL&#148;)</FONT></TD>
<TD valign=top colspan=2><FONT size="2">I.R.S. Identification Nos. of above persons (entities only):<BR>
</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">2.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">Check the Appropriate Box if a Member of a Group:</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(a)</FONT></TD>
<TD valign=top><FONT face="wingdings">&#111;</FONT></TD>
<TD valign=top colspan=3><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(b)</FONT></TD>
<TD valign=top><FONT face="wingdings">&#120;</FONT></TD>
<TD valign=top colspan=3><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">3.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">SEC Use Only:</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">4.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">Citizenship or Place of Organization:<BR>Singapore</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR><TD colspan="3" rowspan="8" align="center"><FONT size="2">Number of<BR>Shares<BR>Beneficially<BR>Owned by<BR> Each Reporting<BR>Person With</FONT></TD></TR>

<TR><TD valign=top><FONT size="2">5.</FONT></TD>
<TD valign=top colspan=3><FONT size="2">Sole Voting Power:<BR>--</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">6.</FONT></TD><TD valign=top colspan=3> <FONT size="2">Shared Voting Power:<BR>1,139,556 shares(6)</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">7.</FONT></TD><TD valign=top colspan=3> <FONT size="2">Sole Dispositive Power:<BR>--</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">8.</FONT></TD><TD valign=top colspan=3><FONT size="2">Shared Dispositive Power:<BR>1,139,556 shares(6)</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">9.</FONT></TD><TD valign=top colspan=5><FONT size="2">Aggregate Amount Beneficially Owned by Each Reporting Person: <BR>1,139,556 shares</FONT></TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">10.</FONT></TD><TD valign=top colspan=5><FONT size="2">Check if the Aggregate Amount in Row (9) Excludes Certain Shares:<BR><FONT face="wingdings">&#111;</FONT></FONT></TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">11.</FONT></TD><TD valign=top colspan=5><FONT size="2">Percent of Class Represented by Amount in Row (9):<BR>2.7* and see footnote (7) below</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">12.</FONT></TD><TD valign=top colspan=5><FONT size="2">Type of Reporting Person:<BR>CO</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>
</TABLE>
<P><FONT size="2">(6) VM2 and its President, Mr. Lee Kheng Nam, may be deemed to have the power to vote and dispose of these shares pursuant to a power of attorney granted by the reporting person to VM2
.. <P> (7) Represents 2.9% of the outstanding shares of common stock of ActivCard Corp., based on 39,827,666 shares of common stock outstanding as of February 7, 2003. <P> * Based on 41,540,000 common shares of ActivCard S.A. outstanding as of September 30, 2002. <BR></FONT>
<P align="center"><FONT size="2">Page 4 of 14</FONT>

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<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="28%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="14%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="45%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
<TD colspan="7" align="center"><FONT size="2">13G</FONT></TD>
</TR>

<TR>
<TD colspan="7"><FONT size="2">CUSIP No. 00506J10</FONT> </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">1.</FONT></TD>
<TD valign=top colspan=3><FONT size="2">Name of Reporting Person:<BR>Vertex Management (II) Pte Ltd (&#147;VM2&#148;)</FONT></TD>
<TD valign=top colspan=2><FONT size="2">I.R.S. Identification Nos. of above persons (entities only):<BR>
</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">2.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">Check the Appropriate Box if a Member of a Group:</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(a)</FONT></TD>
<TD valign=top><FONT face="wingdings">&#111;</FONT></TD>
<TD valign=top colspan=3><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(b)</FONT></TD>
<TD valign=top><FONT face="wingdings">&#120;</FONT></TD>
<TD valign=top colspan=3><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">3.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">SEC Use Only:</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">4.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">Citizenship or Place of Organization:<BR>Singapore</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR><TD colspan="3" rowspan="8" align="center"><FONT size="2">Number of<BR>Shares<BR>Beneficially<BR>Owned by<BR> Each Reporting<BR>Person With</FONT></TD></TR>

<TR><TD valign=top><FONT size="2">5.</FONT></TD>
<TD valign=top colspan=3><FONT size="2">Sole Voting Power:<BR>--</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">6.</FONT></TD><TD valign=top colspan=3> <FONT size="2">Shared Voting Power:<BR>2,038,113 shares(8) </FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">7.</FONT></TD><TD valign=top colspan=3> <FONT size="2">Sole Dispositive Power:<BR>--</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">8.</FONT></TD><TD valign=top colspan=3><FONT size="2">Shared Dispositive Power:<BR>2,038,113 shares(8) </FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">9.</FONT></TD><TD valign=top colspan=5><FONT size="2">Aggregate Amount Beneficially Owned by Each Reporting Person: <BR>2,038,113 shares</FONT></TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">10.</FONT></TD><TD valign=top colspan=5><FONT size="2">Check if the Aggregate Amount in Row (9) Excludes Certain Shares:<BR><FONT face="wingdings">&#111;</FONT></FONT></TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">11.</FONT></TD><TD valign=top colspan=5><FONT size="2">Percent of Class Represented by Amount in Row (9):<BR>4.9* and see footnote (9) below</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">12.</FONT></TD><TD valign=top colspan=5><FONT size="2">Type of Reporting Person:<BR>CO</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>
</TABLE>
<P><FONT size="2">(8) Of these shares, 898,557 are owned directly by VI2 and 1,139,556 are owned directly by VAL. VM2 and its President, Mr. Lee Kheng Nam, may be deemed to have the power to vote and dispose of these shares pursuant to powers of attorney granted by VAL and VI2 to VM2. In addition, VVH, as the holder of more than 45% of the outstanding shares of VI2, EHP, as the parent of VVH, and STPL, as the parent of EHP, may also be deemed to have the power to vote and dispose of the shares held by VI2. <P> (9) Represents 5.1% of the outstanding shares of common stock of ActivCard Corp., based on 39,827,666 shares of common stock outstanding as of February 7, 2003. <P> * Based on 41,540,000 common shares of ActivCard S.A. outstanding as of September 30, 2002. <BR></FONT>
<P align="center"><FONT size="2">Page 5 of 14</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="4">
<TR>
<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="28%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="14%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="45%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
<TD colspan="7" align="center"><FONT size="2">13G</FONT></TD>
</TR>

<TR>
<TD colspan="7"><FONT size="2">CUSIP No. 00506J10</FONT> </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">1.</FONT></TD>
<TD valign=top colspan=3><FONT size="2">Name of Reporting Person:<BR>Lee Kheng Nam (&#147;Lee&#148;)</FONT></TD>
<TD valign=top colspan=2><FONT size="2">I.R.S. Identification Nos. of above persons (entities only):<BR>
</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">2.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">Check the Appropriate Box if a Member of a Group:</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(a)</FONT></TD>
<TD valign=top><FONT face="wingdings">&#111;</FONT></TD>
<TD valign=top colspan=3><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(b)</FONT></TD>
<TD valign=top><FONT face="wingdings">&#120;</FONT></TD>
<TD valign=top colspan=3><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">3.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">SEC Use Only:</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">4.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">Citizenship or Place of Organization:<BR>Singapore</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR><TD colspan="3" rowspan="8" align="center"><FONT size="2">Number of<BR>Shares<BR>Beneficially<BR>Owned by<BR> Each Reporting<BR>Person With</FONT></TD></TR>

<TR><TD valign=top><FONT size="2">5.</FONT></TD>
<TD valign=top colspan=3><FONT size="2">Sole Voting Power:<BR>--</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">6.</FONT></TD><TD valign=top colspan=3> <FONT size="2">Shared Voting Power:<BR>2,065,624 shares(10) </FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">7.</FONT></TD><TD valign=top colspan=3> <FONT size="2">Sole Dispositive Power:<BR>--</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">8.</FONT></TD><TD valign=top colspan=3><FONT size="2">Shared Dispositive Power:<BR>2,065,624 shares(10) </FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">9.</FONT></TD><TD valign=top colspan=5><FONT size="2">Aggregate Amount Beneficially Owned by Each Reporting Person: <BR>2,065,624 shares</FONT></TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">10.</FONT></TD><TD valign=top colspan=5><FONT size="2">Check if the Aggregate Amount in Row (9) Excludes Certain Shares:<BR><FONT face="wingdings">&#111;</FONT></FONT></TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">11.</FONT></TD><TD valign=top colspan=5><FONT size="2">Percent of Class Represented by Amount in Row (9):<BR>5.0* and see footnote (11) below</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">12.</FONT></TD><TD valign=top colspan=5><FONT size="2">Type of Reporting Person:<BR>IN</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>
</TABLE>
<P><FONT size="2">(10) Of these shares, 898,557 are owned directly by
VI2, 1,139,556 are owned directly by VAL, 1 is owned directly by Mr.
Lee, 10 are held by Mr. Lee in trust for VII3, and 27,500 represent
shares issuable within 60 days of December 31, 2002 upon exercise of
warrants to purchase an aggregate of 100,000 shares held by Mr. Lee
in trust for Vertex Investment International (I) Inc. (&#147;VII1&#148;). VM2 and its President, Mr. Lee Kheng Nam, may be deemed to have the power to vote and dispose of the shares held by VAL and VI2 pursuant to powers of attorney granted by VAL and VI2 to VM2. In addition, VVH, as the holder of more than 45% of the outstanding shares of VI2 and 100% of the outstanding shares of VII1 and VII3, EHP, as the parent of VVH, and STPL, as the parent of EHP, may also be deemed to have the power to vote and dispose of the shares held by VI2, VII1 and VII3. <P> (11) Represents 5.2% of the outstanding shares of common stock of ActivCard Corp., based on 39,827,666 shares of common stock outstanding as of February 7, 2003. <P> * Based on 41,540,000 common shares of ActivCard S.A. outstanding as of September 30, 2002. <BR></FONT>
<P align="center"><FONT size="2">Page 6 of 14</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="4">
<TR>
<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="28%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="14%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="45%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
<TD colspan="7" align="center"><FONT size="2">13G</FONT></TD>
</TR>

<TR>
<TD colspan="7"><FONT size="2">CUSIP No. 00506J10</FONT> </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">1.</FONT></TD>
<TD valign=top colspan=3><FONT size="2">Name of Reporting Person:<BR>Vertex Venture Holdings Ltd (&#147;VVH&#148;)</FONT></TD>
<TD valign=top colspan=2><FONT size="2">I.R.S. Identification Nos. of above persons (entities only):<BR>
</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">2.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">Check the Appropriate Box if a Member of a Group:</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(a)</FONT></TD>
<TD valign=top><FONT face="wingdings">&#111;</FONT></TD>
<TD valign=top colspan=3><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(b)</FONT></TD>
<TD valign=top><FONT face="wingdings">&#120;</FONT></TD>
<TD valign=top colspan=3><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">3.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">SEC Use Only:</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">4.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">Citizenship or Place of Organization:<BR>Singapore</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR><TD colspan="3" rowspan="8" align="center"><FONT size="2">Number of<BR>Shares<BR>Beneficially<BR>Owned by<BR> Each Reporting<BR>Person With</FONT></TD></TR>

<TR><TD valign=top><FONT size="2">5.</FONT></TD>
<TD valign=top colspan=3><FONT size="2">Sole Voting Power:<BR>--</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">6.</FONT></TD><TD valign=top colspan=3> <FONT size="2">Shared Voting Power:<BR>2,946,088 shares(12)</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">7.</FONT></TD><TD valign=top colspan=3> <FONT size="2">Sole Dispositive Power:<BR></FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">8.</FONT></TD><TD valign=top colspan=3><FONT size="2">Shared Dispositive Power:<BR>2,946,088 shares(12)</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">9.</FONT></TD><TD valign=top colspan=5><FONT size="2">Aggregate Amount Beneficially Owned by Each Reporting Person: <BR>2,946,088 shares</FONT></TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">10.</FONT></TD><TD valign=top colspan=5><FONT size="2">Check if the Aggregate Amount in Row (9) Excludes Certain Shares:<br>See footnote (12) below.<BR><FONT face="wingdings">&#120;</FONT></FONT></TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">11.</FONT></TD><TD valign=top colspan=5><FONT size="2">Percent of Class Represented by Amount in Row (9):<BR>7.1* and see footnote (13) below</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">12.</FONT></TD><TD valign=top colspan=5><FONT size="2">Type of Reporting Person:<BR>CO</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>
</TABLE>
<P><FONT size="2">(12) Of these shares, 898,557 are owned directly by VI2, 2,020,021 are owned directly by VII3, 10 are held by Mr. Lee in trust for VII3, and 27,500 represent shares issuable within 60 days of December 31, 2002 upon exercise of warrants to purchase an aggregate of 100,000 shares held by Mr. Lee in trust for VII1. VVH, as the parent of VII1 and VII3 and the holder of more than 45% of the outstanding shares of VI2, EHP, as the parent of VVH, and STPL, as the parent of EHP, may also be deemed to have the power to vote and dispose of the shares held by VII1, VII3 and VI2. This amount does not include 1,139,556 shares owned directly by VAL, of which VVH is the owner of approximate
ly 25% of the outstanding shares. VVH disclaims beneficial ownership of the shares held by VAL. VM2 and its President, Mr. Lee Kheng Nam, may also be deemed to have the power to vote and dispose of the shares held by VI2 and VAL pursuant to powers of attorney granted by VI2 and VAL to VM2. <P> (13) Represents 7.4% of the outstanding shares of common stock of ActivCard Corp., based on 39,827,666 shares of common stock outstanding as of February 7, 2003. <P> * Based on 41,540,000 common shares of ActivCard S.A. outstanding as of September 30, 2002. <BR></FONT>
<P align="center"><FONT size="2">Page 7 of 14</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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<TR>
<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="28%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="14%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="45%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
<TD colspan="7" align="center"><FONT size="2">13G</FONT></TD>
</TR>

<TR>
<TD colspan="7"><FONT size="2">CUSIP No. 00506J10</FONT> </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">1.</FONT></TD>
<TD valign=top colspan=3><FONT size="2">Name of Reporting Person:<BR>Ellensburg Holding Pte Ltd (&#147;EHP&#148;)</FONT></TD>
<TD valign=top colspan=2><FONT size="2">I.R.S. Identification Nos. of above persons (entities only):<BR>
</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">2.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">Check the Appropriate Box if a Member of a Group:</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(a)</FONT></TD>
<TD valign=top><FONT face="wingdings">&#111;</FONT></TD>
<TD valign=top colspan=3><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(b)</FONT></TD>
<TD valign=top><FONT face="wingdings">&#120;</FONT></TD>
<TD valign=top colspan=3><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">3.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">SEC Use Only:</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">4.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">Citizenship or Place of Organization:<BR>Singapore</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR><TD colspan="3" rowspan="8" align="center"><FONT size="2">Number of<BR>Shares<BR>Beneficially<BR>Owned by<BR> Each Reporting<BR>Person With</FONT></TD></TR>

<TR><TD valign=top><FONT size="2">5.</FONT></TD>
<TD valign=top colspan=3><FONT size="2">Sole Voting Power:<BR>--</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">6.</FONT></TD><TD valign=top colspan=3> <FONT size="2">Shared Voting Power:<BR>2,946,088 shares(14)</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">7.</FONT></TD><TD valign=top colspan=3> <FONT size="2">Sole Dispositive Power:<BR>--</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">8.</FONT></TD><TD valign=top colspan=3><FONT size="2">Shared Dispositive Power:<BR>2,946,088 shares(14)</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">9.</FONT></TD><TD valign=top colspan=5><FONT size="2">Aggregate Amount Beneficially Owned by Each Reporting Person: <BR>2,946,088 shares</FONT></TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">10.</FONT></TD><TD valign=top colspan=5><FONT size="2">Check if the Aggregate Amount in Row (9) Excludes Certain Shares:<br>See footnote (14) below.<BR><FONT face="wingdings">&#120;</FONT></FONT></TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">11.</FONT></TD><TD valign=top colspan=5><FONT size="2">Percent of Class Represented by Amount in Row (9):<BR>7.1* and see footnote (15) below</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">12.</FONT></TD><TD valign=top colspan=5><FONT size="2">Type of Reporting Person:<BR>CO</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>
</TABLE>
<P><FONT size="2">(14) Of these shares, 898,557 are owned directly by
 VI2, 2,020,021 are owned directly by VII3, 10 are held by Mr. Lee in trust for VII3, and 27,500 represent shares issuable within 60 days of December 31, 2002 upon exercise of warrants to purchase an aggregate of 100,000 shares held by Mr. Lee in trust for VII1. VVH, as the parent of VII1 and VII3 and the holder of more than 45% of the outstanding shares of VI2, EHP, as the parent of VVH, and STPL, as the parent of EHP, may also be deemed to have the power to vote and dispose of the shares held by VII1, VII
3 and VI2. This amount does not include 1,139,556 shares owned directly by VAL, of which VVH is the owner of approximately 25% of the outstanding shares. EHP disclaims beneficial ownership of the shares held by VAL. VM2 and its President, Mr. Lee Kheng Nam, may also be deemed to have the power to vote and dispose of the shares held by VI2 and VAL pursuant to powers of attorney granted by VI2 and VAL to VM2. <P> (15) Represents 7.4% of the outstanding shares of common stock of ActivCard Corp., based on 39,82
7,666 shares of common stock outstanding as of February 7, 2003. <P> * Based on 41,540,000 common shares of ActivCard S.A. outstanding as of September 30, 2002. <BR></FONT>
<P align="center"><FONT size="2">Page 8 of 14</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="4">
<TR>
<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="28%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="14%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="45%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
<TD colspan="7" align="center"><FONT size="2">13G</FONT></TD>
</TR>

<TR>
<TD colspan="7"><FONT size="2">CUSIP No. 00506J10</FONT> </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">1.</FONT></TD>
<TD valign=top colspan=3><FONT size="2">Name of Reporting Person:<BR>Singapore Technologies Pte Ltd (&#147;STPL&#148;)</FONT></TD>
<TD valign=top colspan=2><FONT size="2">I.R.S. Identification Nos. of above persons (entities only):<BR>
</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">2.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">Check the Appropriate Box if a Member of a Group:</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(a)</FONT></TD>
<TD valign=top><FONT face="wingdings">&#111;</FONT></TD>
<TD valign=top colspan=3><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(b)</FONT></TD>
<TD valign=top><FONT face="wingdings">&#120;</FONT></TD>
<TD valign=top colspan=3><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">3.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">SEC Use Only:</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">4.</FONT></TD>
<TD valign=top colspan=5><FONT size="2">Citizenship or Place of Organization:<BR>Singapore</FONT></TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR><TD colspan="3" rowspan="8" align="center"><FONT size="2">Number of<BR>Shares<BR>Beneficially<BR>Owned by<BR> Each Reporting<BR>Person With</FONT></TD></TR>

<TR><TD valign=top><FONT size="2">5.</FONT></TD>
<TD valign=top colspan=3><FONT size="2">Sole Voting Power:<BR>--</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">6.</FONT></TD><TD valign=top colspan=3> <FONT size="2">Shared Voting Power:<BR>2,946,088 shares(16)</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">7.</FONT></TD><TD valign=top colspan=3> <FONT size="2">Sole Dispositive Power:<BR>--</FONT></TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top><FONT size="2">8.</FONT></TD><TD valign=top colspan=3><FONT size="2">Shared Dispositive Power:<BR>2,946,088 shares(16)</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">9.</FONT></TD><TD valign=top colspan=5><FONT size="2">Aggregate Amount Beneficially Owned by Each Reporting Person: <BR>2,946,088 shares</FONT></TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">10.</FONT></TD><TD valign=top colspan=5><FONT size="2">Check if the Aggregate Amount in Row (9) Excludes Certain Shares:<br>See footnote (16) below.<BR><FONT face="wingdings">&#120;</FONT></FONT></TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">11.</FONT></TD><TD valign=top colspan=5><FONT size="2">Percent of Class Represented by Amount in Row (9):<BR>7.1* and see footnote (17) below</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">12.</FONT></TD><TD valign=top colspan=5><FONT size="2">Type of Reporting Person:<BR>CO</FONT></TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>
</TABLE>
<P><FONT size="2">(16) Of these shares, 898,557 are owned directly by VI2, 2,020,021 are owned directly by VII3, 10 are held by Mr. Lee in trust for VII3, and 27,500 represent shares issuable within 60 days of December 31, 2002 upon exercise of warrants to purchase an aggregate of 100,000 shares held by Mr. Lee in trust for VII1. VVH, as the parent of VII1 and VII3 and the holder of more than 45% of the outstanding shares of VI2, EHP, as the parent of VVH,
and STPL, as the parent of EHP, may also be deemed to have the power to vote and dispose of the shares held by VII1, VII3 and VI2. This amount does not include 1,139,556 shares owned directly by VAL, of which VVH is the owner of approximately 25% of the outstanding shares. STPL disclaims beneficial ownership of the shares held by VAL. VM2 and its President, Mr. Lee Kheng Nam, may also be deemed to have the power to vote and dispose of the shares held by VI2 and VAL pursuant to powers of attorney granted by
VI2 and VAL to VM2. <P> (17) Represents 7.4% of the outstanding shares of common stock of ActivCard Corp., based on 39,827,666 shares of common stock outstanding as of February 7, 2003. <P> * Based on 41,540,000 common shares of ActivCard S.A. outstanding as of September 30, 2002. <BR></FONT>
<P align="center"><FONT size="2">Page 9 of 14</FONT>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center"><FONT size="2">13G</FONT>

<TABLE width="100%" border=0 cellspacing=0 cellpadding=4>

<TR>
<TD width="10%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="80%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD colspan=4 nowrap><FONT size="2"><B>
<!-- link2 "ITEM 1. Name of Issuer:" -->
Item 1.</B></FONT></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(a)</FONT></TD>
<TD colspan=2><FONT size="2">Name of Issuer:</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">&nbsp;</FONT></TD>
<TD colspan=2><FONT size="2">ActivCard Corp.<BR>As of December 31, 2002, the reporting
persons owned common shares of ActivCard S.A. On February 4, 2003,
ActivCard Corp. and ActivCard S.A. announced the expiration and
closing of ActivCard Corp.'s registered exchange offer for all of
the outstanding common shares and American depository shares of
ActivCard S.A. As a result, while the reporting persons owned
common shares of ActivCard S.A. as of December 31, 2002, those shares
have been exchanged, on a one for one basis, for shares of common stock
of ActivCard Corp.</FONT></TD>
</TR>

<TR>
       <TD><FONT size="2">&nbsp;</FONT></TD>
       <TD valign=top><FONT size="2">(b)</FONT></TD>
       <TD colspan=2><FONT size="2">Address of Issuer's Principal Executive
Offices:</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">&nbsp;</FONT></TD>
<TD colspan=2><FONT size="2">6623 Dumbarton Circle<BR>Fremont, California 94555<BR><BR></FONT></TD>
</TR>

<TR><TD colspan=4><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD colspan=4 nowrap><FONT size="2"><B>
<!-- link2 "ITEM 2. Name of Person Filing:" -->
Item 2.</B></FONT></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(a)</FONT></TD>
<TD colspan=2><FONT size="2">Name of Person Filing:</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">&nbsp;</FONT></TD>
<TD colspan=2><FONT size="2">This Statement is filed by Vertex Investment
(II) Ltd (&#147;VI2&#148;), Vertex Investment International (III)
Inc. (&#147;VII3&#148;), Vertex Asia Limited (&#147;VAL&#148;), Vertex
Management (II) Pte Ltd (&#147;VM2&#148;), Mr. Lee Kheng Nam (&#147;Lee&#148;),
Vertex Venture Holdings Ltd (&#147;VVH&#148;), Ellensburg Holding Pte Ltd
(&#147;EHP&#148;) and Singapore Technologies Pte Ltd (&#147;STPL&#148;).
The foregoing entities and individual are collectively referred
to as the &#147;Reporting Persons.&#148;

<P>VM2 has been granted a power of attorney
by VAL and VI2 to make all voting and divestment decisions with respect to
all of the issuer's shares held by VAL and VI2. Lee is President of VM2 and
has power to make voting and divestment decisions pursuant to a power of
attorney granted to VM2. As a result, VM2 and Lee may be deemed to have the
power to vote and the power to dispose of shares of the issuer owned directly
by VAL and VI2.

<P>VVH is the parent of VII3 and Vertex Investment International
(I) Inc. (&#147;VII1&#148;) and owns more than 45% of the outstanding shares of VI2.
EHP is the parent of VVH, and STPL is the parent of EHP. As a result of
their share ownership positions, VVH, EHP and STPL may be deemed to control
VI2, VII1 and VII3 and may therefore be deemed to have the power to vote and
the power to dispose of shares of the issuer owned directly by such entities. VVH owns approximately 25% of the outstanding shares of VAL but disclaims beneficial ownership of the issuer's shares held by VAL.</FONT></TD>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(b)</FONT></TD>
<TD colspan=2><FONT size="2">Address of Principal Business Office or, if none, Residence:</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">&nbsp;</FONT></TD>
<TD colspan=2><FONT size="2">The address for VI2, VAL, VM2, Lee and VVH is:<BR>77 Science Park Drive<BR>#02-15 Cintech III<BR>Singapore 118256<P>The address for VII3 is:<BR>P. O. Box 957<BR>Offshore Incorporations Centre<BR>Road Town<BR>Tortola, British Virgin Islands<P>The address for EHP and STPL is:<BR>51 Cuppage Road,<BR>#09-01 Starhub Centre <BR>Singapore 229469<BR></FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(c)</FONT></TD><TD colspan=2><FONT size="2">Citizenship:</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">&nbsp;</FONT></TD>
<TD colspan=2><FONT size="2">VAL, VI2, VM2, VVH, EHP and STPL are each corporations organized under the laws of Singapore. VII3 is a corporation organized under the laws of the British Virgin Islands. Lee is a citizen of Singapore.</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(d)</FONT></TD>
<TD colspan=2><FONT size="2">Title of Class of Securities:</FONT></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">&nbsp;</FONT></TD>
<TD colspan=2><FONT size="2">Common shares of ActivCard S.A. as of December 31, 2002, which have since been exchanged for shares of common stock of ActivCard Corp.</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(e)</FONT></TD> <TD colspan=2><FONT size="2">CUSIP Number:</FONT></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">&nbsp;</FONT></TD>
<TD colspan=2><FONT size="2">00506J10</FONT></TD>
</TR>

<TR><TD colspan=4><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD valign=top nowrap><FONT size="2"><B>
<!-- link2 "ITEM 3. If this statement is filed pursuant to &#167;&#167;240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:" -->
Item 3.</B></FONT></TD>
<TD colspan=3><FONT size="2"><B>If this statement is filed pursuant to &#167;&#167;240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:</B></FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2"> </FONT></TD>
<TD><FONT face="wingdings">&#120;</FONT></TD>
<TD><FONT size="2">Not Applicable.</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(a)</FONT></TD>
<TD><FONT face="wingdings">&#111;</FONT></TD>
<TD><FONT size="2">Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">(b)</FONT></TD>
<TD><FONT face="wingdings">&#111;</FONT></TD>
<TD><FONT size="2">Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">(c)</FONT></TD>
<TD><FONT face="wingdings">&#111;</FONT></TD>
<TD><FONT size="2">Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">(d)</FONT></TD>
<TD><FONT face="wingdings">&#111;</FONT></TD>
<TD><FONT size="2">Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">(e)</FONT></TD>
<TD><FONT face="wingdings">&#111;</FONT></TD>
<TD><FONT size="2">An investment adviser in accordance with &#167;240.13d-1(b)(1)(ii)(E);</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">(f)</FONT></TD>
<TD><FONT face="wingdings">&#111;</FONT></TD>
<TD><FONT size="2">An employee benefit plan or endowment fund in accordance with &#167;240.13d-1(b)(1)(ii)(F);</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">(g)</FONT></TD>
<TD><FONT face="wingdings">&#111;</FONT></TD>
<TD><FONT size="2">A parent holding company or control person in accordance with &#167; 240.13d-1(b)(1)(ii)(G);</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">(h)</FONT></TD>
<TD><FONT face="wingdings">&#111;</FONT></TD>
<TD><FONT size="2">A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">(i)</FONT></TD>
<TD><FONT face="wingdings">&#111;</FONT></TD>
<TD><FONT size="2">A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">(j)</FONT></TD>
<TD><FONT face="wingdings">&#111;</FONT></TD>
<TD><FONT size="2">Group, in accordance with &#167;240.13d-1(b)(1)(ii)(J).</FONT></TD>
</TR>

<TR><TD colspan=4><FONT size="2">&nbsp;</FONT></TD></TR>
</TABLE>

<P align="center"><FONT size="2">Page 10 of 14</FONT>


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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center"><FONT size="2">13G</FONT>

<TABLE width="100%" border=0 cellspacing=0 cellpadding=4>

<TR>
<TD width="10%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="80%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD nowrap><FONT size="2"><B>
<!-- link2 "ITEM 4. Ownership." -->
Item 4.</B></FONT></TD><TD colspan=3><FONT size="2"><B> Ownership.</B></FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(a)</FONT></TD>
<TD valign=top colspan=2><FONT size="2">Amount beneficially owned:</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">&nbsp;</FONT></TD>
<TD colspan=2><FONT size="2">See Row 9 of cover page for each Reporting Person.</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(b)</FONT></TD>
<TD valign=top colspan=2><FONT size="2">Percent of class:</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">&nbsp;</FONT></TD>
<TD colspan=2><FONT size="2">See Row 11 of cover page for each Reporting Person.</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(c)</FONT></TD>
<TD valign=top colspan=2><FONT size="2">Number of shares as to which the person has:</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(i)</FONT></TD>
<TD><FONT size="2">Sole power to vote or to direct the vote:</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">See Row 5 of cover page for each Reporting Person.</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(ii)</FONT></TD>
<TD valign=top><FONT size="2">Shared power to vote or to direct the vote:</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">See Row 6 of cover page for each Reporting Person.</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(iii)</FONT></TD>
<TD valign=top><FONT size="2">Sole power to dispose or to direct the disposition of:</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">See Row 7 of cover page for each Reporting Person.</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">(iv)</FONT></TD>
<TD valign=top><FONT size="2">Shared power to dispose or to direct the disposition of:</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">&nbsp;</FONT></TD>
<TD valign=top><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">See Row 8 of cover page for each Reporting Person.</FONT></TD>
</TR>

<TR><TD colspan=4><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD nowrap><FONT size="2"><B>
<!-- link2 "ITEM 5. Ownership of Five Percent or Less of a Class." -->
Item 5.</B></FONT></TD><TD colspan=3><FONT size="2"><B>Ownership of Five Percent or Less of a Class.</B></FONT></TD>
</TR>

<TR><TD colspan=4><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD colspan=4><FONT size="2">If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following <FONT face="wingdings">&#111;</FONT></FONT>.
<TR><TD colspan=4><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD colspan=4><FONT size="2">Not applicable.</FONT></TD></TR>

<TR><TD colspan=4><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD><FONT size="2"><B>
<!-- link2 "ITEM 6. Ownership of More than Five Percent on Behalf of Another Person." -->
Item 6.</B></FONT></TD><TD colspan=3><FONT size="2"><B>Ownership of More than Five Percent on Behalf of Another Person.</B></FONT></TD></TR>

<TR><TD colspan=4><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD colspan=4><FONT size="2">Under certain circumstances set forth in the organizational documents of each of VI2, VII1, VII3 and VAL, the shareholders of each of such entities may be deemed to have the right to receive dividends from, or the proceeds from, the sale of shares of the issuer owned by each such entity of which they are a shareholder.</FONT></TD></TR>

<TR><TD colspan=4><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD valign=top><FONT size="2"><B>
<!-- link2 "ITEM 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company." -->
Item 7.</B></FONT></TD><TD colspan=3><FONT size="2"><B>Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.</B></FONT></TD></TR>

<TR><TD colspan=4><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD colspan=4><FONT size="2">Not applicable.</FONT></TD></TR>

<TR><TD colspan=4><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD><FONT size="2"><B>
<!-- link2 "ITEM 8. Identification and Classification of Members of the Group." -->
Item 8.</B></FONT></TD><TD colspan=3><FONT size="2"><B>Identification and Classification of Members of the Group.</B></FONT></TD></TR>

<TR><TD colspan=4><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD colspan=4><FONT size="2">Not applicable.</FONT></TD></TR>

<TR><TD colspan=4><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD><FONT size="2"><B>
<!-- link2 "ITEM 9. Notice of Dissolution of Group." -->
Item 9.</B></FONT></TD><TD colspan=3><FONT size="2"><B>Notice of Dissolution of Group.</B></FONT></TD></TR>

<TR><TD colspan=4><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD colspan=4><FONT size="2">Not applicable.</FONT></TD></TR>
</TABLE>

<P align="center"><FONT size="2">Page 11 of 14</FONT>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center"><FONT size="2">13G</FONT>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="4">

<TR>
<TD width="10%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="80%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><FONT size="2"><B>
<!-- link2 "ITEM 10. Certification." -->
Item 10.</B></FONT></TD><TD colspan=3><FONT size="2"><B>Certification.</B></FONT></TD></TR>

<TR><TD colspan=4><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD colspan=4><FONT size="2"><P> By signing below, Ellensburg
Holding Pte Ltd certifies that, to the best of its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.</FONT></TD>
</TR>
</TABLE>

<!-- link1 "SIGNATURE" -->
<P>
<P align="center"><FONT size="2"><B>
SIGNATURE</B></FONT>
<P><FONT size="2">After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.</FONT>

<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align=center>

<TR>
<TD width="60%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="34%"><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom">
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top" colspan=2><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top" colspan=2><FONT size="2">VERTEX INVESTMENT (II) LTD.</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD valign="top"><FONT size="2">Date:&nbsp;&nbsp;February&nbsp;14, 2003</FONT></TD>
<TD valign="top"><FONT size="2">By:</FONT></TD>
<TD valign="top"><FONT size="2">/s/&nbsp;Lee Kheng Nam<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Name:</FONT></TD>
<TD valign="top"><FONT size="2">Lee Kheng Nam<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Title:</FONT></TD>
<TD valign="top"><FONT size="2">Director<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
<TD><FONT size="2">&nbsp;</FONT></TD>


<TD valign="top" colspan=2><FONT size="2">VERTEX INVESTMENT INTERNATIONAL (III) INC.</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD valign="top"><FONT size="2">Date:&nbsp;&nbsp;February&nbsp;14, 2003</FONT></TD>
<TD valign="top"><FONT size="2">By:</FONT></TD>
<TD valign="top"><FONT size="2">/s/&nbsp;Sim Mong Tee<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Name:</FONT></TD>
<TD valign="top"><FONT size="2">Sim Mong Tee<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Title:</FONT></TD>
<TD valign="top"><FONT size="2">Director<HR size="1" noshade></FONT></TD>
</TR>
<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top" colspan=2><FONT size="2">VERTEX ASIA LIMITED</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD valign="top"><FONT size="2">Date:&nbsp;&nbsp;February&nbsp;14,
2003<BR>&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">By:</FONT></TD>
<TD valign="top"><FONT size="2">/s/&nbsp;Lee Kheng Nam<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Name:</FONT></TD>
<TD valign="top"><FONT size="2">Lee Kheng Nam<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Title:</FONT></TD>
<TD valign="top"><FONT size="2">President of Vertex Management (II) Pte Ltd.<br>Attorney-in-Fact<HR size="1" noshade></FONT></TD>
</TR>
<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top" colspan=2><FONT size="2">VERTEX MANAGEMENT (II) PTE LTD</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD valign="top"><FONT size="2">Date:&nbsp;&nbsp;February&nbsp;14, 2003</FONT></TD>
<TD valign="top"><FONT size="2">By:</FONT></TD>
<TD valign="top"><FONT size="2">/s/&nbsp;Lee Kheng Nam<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Name:</FONT></TD>
<TD valign="top"><FONT size="2">Lee Kheng Nam<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Title:</FONT></TD>
<TD valign="top"><FONT size="2">President<HR size="1" noshade></FONT></TD>
</TR>
<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top" colspan=2><FONT size="2">LEE KHENG NAM</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD valign="top"><FONT size="2">Date:&nbsp;&nbsp;February&nbsp;14, 2003</FONT></TD>
<TD valign="top"><FONT size="2">By:</FONT></TD>
<TD valign="top"><FONT size="2">/s/&nbsp;Lee Kheng Nam<HR size="1" noshade></FONT></TD>
</TR>
<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top" colspan=2><FONT size="2">VERTEX VENTURE HOLDINGS LTD</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD valign="top"><FONT size="2">Date:&nbsp;&nbsp;February&nbsp;14, 2003</FONT></TD>
<TD valign="top"><FONT size="2">By:</FONT></TD>
<TD valign="top"><FONT size="2">/s/&nbsp;Lee Kheng Nam<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Name:</FONT></TD>
<TD valign="top"><FONT size="2">Lee Kheng Nam<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Title:</FONT></TD>
<TD valign="top"><FONT size="2">Director<HR size="1" noshade></FONT></TD>
</TR>
<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top" colspan=2><FONT size="2">ELLENSBURG HOLDING PTE LTD</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD valign="top"><FONT size="2">Date:&nbsp;&nbsp;February&nbsp;14, 2003</FONT></TD>
<TD valign="top"><FONT size="2">By:</FONT></TD>
<TD valign="top"><FONT size="2">/s/&nbsp;Teo Soon Hock<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Name:</FONT></TD>
<TD valign="top"><FONT size="2">Teo Soon Hock<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Title:</FONT></TD>
<TD valign="top"><FONT size="2">Director<HR size="1" noshade></FONT></TD>
</TR>
<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top" colspan=2><FONT size="2">SINGAPORE TECHNOLOGIES PTE LTD</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD valign="top"><FONT size="2">Date:&nbsp;&nbsp;February&nbsp;14, 2003</FONT></TD>
<TD valign="top"><FONT size="2">By:</FONT></TD>
<TD valign="top"><FONT size="2">/s/&nbsp;Chua Su Li<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Name:</FONT></TD>
<TD valign="top"><FONT size="2">Chua Su Li<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Title:</FONT></TD>
<TD valign="top"><FONT size="2">Company Secretary<HR size="1" noshade></FONT></TD>
</TR>

</TABLE>
<BR clear="right">

<!--Do not delete the "br clear..." code, so the text will not wrap around the table above-->


<BR clear="right">

<P>
<P>

<P align="center"><FONT size="2">Page 12 of 14</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center"><FONT size="2"><b>EXHIBIT INDEX</b></font>

<P><FONT size="2">Exhibit</font>

<P><FONT size="2">Exhibit A:&nbsp;&nbsp;Agreement of Joint Filing</font>

<P align="center"><FONT size="2">Page 13 of 14</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center"><FONT size="2"><B>
EXHIBIT A</B></FONT>

<P align="center"><FONT size="2"><B>
Agreement of Joint Filing</B></FONT>

<P><FONT size="2">The undersigned hereby agree that a single Schedule 13G (or any amendment thereto) relating to the Common Stock of ActivCard S.A. shall be filed on behalf of each of the undersigned and that this Agreement shall be filed as an exhibit to such Schedule 13G.</FONT>

<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align=left>

<TR>
<TD width="60%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
<TD width="34%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top" colspan=2><FONT size="2">VERTEX INVESTMENT (II) LTD.</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD><FONT size="2">Date: February&nbsp;14, 2003</FONT></TD>
<TD valign="top"><FONT size="2">By:</FONT></TD>
<TD valign="top"><FONT size="2">/s/&nbsp;Lee Kheng Nam<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Name:</FONT></TD>
<TD valign="top"><FONT size="2">Lee Kheng Nam<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Title:</FONT></TD>
<TD valign="top"><FONT size="2">Director<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top" colspan=2><FONT size="2">VERTEX INVESTMENT INTERNATIONAL (III) INC.</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD><FONT size="2">Date: February&nbsp;14, 2003</FONT></TD>
<TD valign="top"><FONT size="2">By:</FONT></TD>
<TD valign="top"><FONT size="2">/s/&nbsp;Sim Mong Tee<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Name:</FONT></TD>
<TD valign="top"><FONT size="2">Sim Mong Tee<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Title:</FONT></TD>
<TD valign="top"><FONT size="2">Director<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top" colspan=2><FONT size="2">VERTEX ASIA LIMITED</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD><FONT size="2">Date: February&nbsp;14, 2003</FONT></TD>
<TD valign="top"><FONT size="2">By:</FONT></TD>
<TD valign="top"><FONT size="2">/s/&nbsp;Lee Kheng Nam<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Name:</FONT></TD>
<TD valign="top"><FONT size="2">Lee Kheng Nam<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Title:</FONT></TD>
<TD valign="top"><FONT size="2">President of Vertex Management (II) Pte Ltd.<br>Attorney-in-Fact<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top" colspan=2><FONT size="2">VERTEX MANAGEMENT (II) PTE LTD</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD><FONT size="2">Date: February&nbsp;14, 2003</FONT></TD>
<TD valign="top"><FONT size="2">By:</FONT></TD>
<TD valign="top"><FONT size="2">/s/&nbsp;Lee Kheng Nam<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Name:</FONT></TD>
<TD valign="top"><FONT size="2">Lee Kheng Nam<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Title:</FONT></TD>
<TD valign="top"><FONT size="2">President<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top" colspan=2><FONT size="2">LEE KHENG NAM</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD><FONT size="2">Date: February&nbsp;14, 2003</FONT></TD>
<TD valign="top"><FONT size="2">By:</FONT></TD>
<TD valign="top"><FONT size="2">/s/&nbsp;Lee Kheng Nam<HR size="1" noshade></FONT></TD>
</TR>
<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top" colspan=2><FONT size="2">VERTEX VENTURE HOLDINGS LTD</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD><FONT size="2">Date: February&nbsp;14, 2003</FONT></TD>
<TD valign="top"><FONT size="2">By:</FONT></TD>
<TD valign="top"><FONT size="2">/s/&nbsp;Lee Kheng Nam<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Name:</FONT></TD>
<TD valign="top"><FONT size="2">Lee Kheng Nam<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Title:</FONT></TD>
<TD valign="top"><FONT size="2">Director<HR size="1" noshade></FONT></TD>
</TR>
<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top" colspan=2><FONT size="2">ELLENSBURG HOLDING PTE LTD</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD><FONT size="2">Date: February&nbsp;14, 2003</FONT></TD>
<TD valign="top"><FONT size="2">By:</FONT></TD>
<TD valign="top"><FONT size="2">/s/&nbsp;Teo Soon Hock<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Name:</FONT></TD>
<TD valign="top"><FONT size="2">Teo Soon Hock<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Title:</FONT></TD>
<TD valign="top"><FONT size="2">Director<HR size="1" noshade></FONT></TD>
</TR>
<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top" colspan=2><FONT size="2">SINGAPORE TECHNOLOGIES PTE LTD</FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
<TD><FONT size="2">Date: February&nbsp;14, 2003</FONT></TD>
<TD valign="top"><FONT size="2">By:</FONT></TD>
<TD valign="top"><FONT size="2">/s/&nbsp;Chua Su Li<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Name:</FONT></TD>
<TD valign="top"><FONT size="2">Chua Su Li<HR size="1" noshade></FONT></TD>
</TR>

<TR>
<TD><FONT size="2">&nbsp;</FONT></TD>
<TD valign="top"><FONT size="2">Title:</FONT></TD>
<TD valign="top"><FONT size="2">Company Secretary<HR size="1" noshade></FONT></TD>

</TR>

</TABLE>
<br clear="all">
<P align="center"><FONT size="2">Page 14 of 14</FONT>
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