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Homeland Security Capital Corporation’s Subsidiary Safety And Ecology Corporation Awarded Remediation Project In Baltimore, MD

Homeland Security Capital Corporation (OTCBB: HOMS), an international provider of specialized technology-based radiological, nuclear, environmental, disaster relief and security solutions to government and commercial customers, today announced that its subsidiary, Safety and Ecology Corporation (SEC), was awarded a contract to perform remediation activities at a Formerly Utilized Site Remedial Action Program (FUSRAP) site in Baltimore, MD. The multi-million dollar contract was awarded in May 2010. Under the contract, SEC will be performing radiological remediation activities within an unoccupied portion of a building at the facility. The contract issued, and the work being performed, is under a Settlement Agreement between a private party and the United States. The United States Army Corps of Engineers Baltimore District is the lead federal entity and will independently conduct the Final Status Survey to confirm the remediation is complete.

C. Thomas McMillen, Chairman and CEO of HOMS said, “We are pleased that SEC has been entrusted with this important remediation project which is located so close to my congressional district that I previously represented.”

Led by SEC’s Senior Project Manager, Keith Jefferies, the project is scheduled to be completed in September 2011. The project team will be performing work under SEC’s Radioactive Material License once the State of Maryland has granted reciprocity to use the license at Curtis Bay. SEC has previously successfully implemented decontamination methodologies to release over 18 million square feet of building components.

“SEC is pleased to have the opportunity to continue its 15 year mission of FUSRAP clean up while assisting both private industry and the USACE,” said Christopher Leichtweis, President of Homeland Security Capital Corporation and CEO of SEC.

The remediation site is located within an operating manufacturing plant. For a short time period in 1956-57, monazite sands were processed in a portion of the facility to extract the thorium under contract with the Atomic Energy Commission. As a consequence of the processing, building components and certain equipment exhibit residual radiological activity. USACE issued the Record of Decision under which the remediation is being performed in May 2005. The ROD calls for demolition or decontamination of the impacted materials with replacement as appropriate.

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