Homeland Security Capital Corporation's Environmental Remediation Division Awarded $2.4 Million Contract

Business Wire, Sept 2, 2008

Contract Granted From U.S. Department of Energy National Energy Technology Laboratory

Decontamination Services Focused on the Removal of Beryllium Contamination at Albany, OR Site

ARLINGTON, Va. -- Homeland Security Capital Corporation (HSCC) (OTCBB: HOMS), an international provider of specialized technology-based radiological, nuclear, environmental, disaster relief, and security solutions to government and commercial customers, announced today that its subsidiary Safety and Ecology Corporation (SEC), was awarded a $2.4 million contract from the U.S. Department of Energy (DOE) in July 2008. The contract, entitled "Beryllium Decontamination in Support of the National Energy Technology Laboratory (NETL) Albany, OR," calls for Safety and Ecology Corporation to perform decontamination services to remove beryllium (Be) contamination in support of the accelerated clean up efforts at the designated Albany, OR site.

Over the past five years, SEC has safely and compliantly performed hazardous materials abatement, asbestos abatement, beryllium remediation and decontamination, demolition, waste transport and disposal, and site restoration activities at 146 facilities worldwide.

"The award of this DOE prime contract demonstrates the U.S. government's confidence in our environmental services solutions," said former Maryland Congressman and HSCC's Chairman and CEO C. Thomas McMillen.

SEC Chairman and CEO, and HSCC's President Christopher P. Leichtweis added, "SEC's relevant project experience has provided us with the qualifications needed to successfully decontaminate the U.S. Department of Energy NETL site of beryllium. We have the capabilities to plan and implement large-scale remediation of complex and contaminated facilities in a safe and compliant manner."

About Safety and Ecology Corporation

Safety and Ecology Corporation is a rapidly growing environmental services company in the U.S., providing services nationally, in Europe and the Caribbean. The Company specializes in the removal and remediation of hazardous nuclear materials for the U.S. Department of Energy, U.S. Department of Defense, and other federal agencies. SEC also provides advanced environmental services for private industry across the country and internationally. Since its founding in 1991, SEC has grown approximately 30 percent per year, and has emerged as a technology innovator with more than 420 personnel worldwide and with annual revenues of more than U.S. $50 million. For more information on SEC, visit www.sec-tn.com.

About Homeland Security Capital Corporation

Homeland Security Capital Corporation is a company engaged in the strategic acquisition, development, and consolidation of homeland security-related businesses, within the fragmented homeland security industry. The company is focused on creating long-term value by taking controlling interest and developing its subsidiary companies through superior operations and management. Former Maryland Congressman C. Thomas McMillen, who served three consecutive terms in the U.S. House of Representatives from the 4th Congressional District of Maryland, heads the company.

Homeland Security Capital Corporation operates businesses that provide homeland security products and services solutions, growing organically and by acquisitions. The company is targeting emerging companies that are generating revenues but face challenges in scaling their businesses to capitalize on homeland security opportunities. Homeland Security Capital Corporation's portfolio of companies, in addition to Safety and Ecology Corporation, includes:

Polimatrix, Inc., a system integrator and total solutions provider delivering advanced radiation and nuclear protection and detection services. The company has been operating since September 2006 as a joint venture between Homeland Security Capital Corporation and Polimaster, Inc. For more information about Polimatrix, visit www.polimatrix.com.

Nexus Technologies Group, a mid-Atlantic security integrator for the corporate and governmental security markets that specializes in non-proprietary integrated security solutions including access control, alarm, video, communication, perimeter protection, and bomb and metal detection security systems. Utilizing cutting-edge technologies, Nexus provides innovative, engineered, and scalable solutions to effectively protect people, property, and assets. For more information about Nexus, visit www.nexusna.com.

For more information about Homeland Security Capital Corporation, or to be added to our e-mail distribution list, please visit www.hscapcorp.com.

Forward-Looking Statement

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future activities, performance, events, or developments, are forward-looking statements. Although Homeland Security Capital Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements.