<SUBMISSION>
<ACCESSION-NUMBER>0001193125-03-016791
<TYPE>424B3
<PUBLIC-DOCUMENT-COUNT>1
<FILING-DATE>20030703
<FILER>
<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>424B3
<ACT>33
<FILE-NUMBER>333-105558
<FILM-NUMBER>03775517
</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>
</FILER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>d424b3.htm
<DESCRIPTION>SUPPLEMENT NO. 1 TO PROSPECTUS DATED JUNE 24, 2003
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<TITLE>Supplement No. 1 to Prospectus Dated June 24, 2003</TITLE>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>ACTIVCARD CORP. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>SUPPLEMENT NO. 1 TO </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B>PROSPECTUS DATED JUNE 24, 2003 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman"
SIZE="2">Filed Pursuant to Rule 424(b)(3) </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2">Registration No. 333-105558 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">This supplement, dated July 3, supplements certain information contained in our prospectus, dated June 24, 2003, registering
shares of our common stock for issuance upon the exchange of ActivCard S.A. securities. This supplement is not complete without, and may not be delivered or utilized except in connection with, the prospectus, including any amendments or supplements
to it. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><U>Supplemental Information</U> </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">On July 3, 2003, ActivCard Corp. announced that, based on preliminary
financial results, its second quarter 2003 revenue is expected to range from $9 million to $10 million and that its unaudited net loss (U.S. GAAP) is expected to range from $0.15 to $0.25 per diluted share for that quarter, compared to a net loss of
$0.11 per diluted share in the second quarter of 2002. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman"
SIZE="2">ActivCard Corp. is currently quantifying the effects of decisions made to terminate non-core business activities, which would result in a write-down of assets. The charge related to the write-down of assets is expected to range between
$0.03 and $0.10 per diluted share. The potential effect of these write-downs is included in the estimated range of net loss per share provided above. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">ActivCard Corp. will report its second quarter 2003 results on July 30, at which time additional commentary will be provided. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">ActivCard Corp. has also announced that it will extend the expiration date of
the tender offer for an additional five business days. As a result of the extension, the exchange offer will now expire at 12:00 midnight, New York City time, on July 14, 2003. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;* </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>


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