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, announced today that its environmental remediation subsidiary, Safety and Ecology Corporation (SEC) was recently awarded two projects valued at $2.5M; each are financed with funds from the American Recovery and Reinvestment Act (ARRA). SEC will clean up a contaminated nuclear laboratory located in Argonne, IL ($1.2M); and SEC will perform demolition of a complex located in Oak Ridge, TN ($1.3M).

“We are pleased that SEC has been awarded further stimulus contracts which are creating jobs and helping the environment. Including these new contracts valued at $2.5 million, we have been awarded a total of $56.5 million in ARRA funded projects,” said C. Thomas McMillen, Chairman and CEO of HOMS.

SEC’s $1.2M task order is awarded from the Department of Energy (DOE) Chicago, for hazardous environmental services at the New Brunswick Laboratory. SEC will perform dismantling, removal and decommissioning of contaminated nuclear material. The project is schedule to be completed by August 2010.

“SEC is proud to support DOE directly at Argonne, bringing to the project years of significant experience with nuclear facilities,” said Christopher Leichtweis, President of HOMS and CEO of SEC.

For more information about the New Brunswick Laboratory, visit: www.nbl.doe.gov.

The second project award was mentioned in the Knoxville News-Sentinel on May 24, 2010, as SEC was awarded a $1.3M contract for demolition of the 2000 West Complex buildings at the Oak Ridge National Laboratory (ORNL) in Oak Ridge, TN. The ARRA contract is a subcontract to UT-Battelle, DOE’s managing contractor at ORNL. Work is scheduled to be completed by the end of November 2010.

About Safety and Ecology Corporation

Safety and Ecology Corporation (SEC) 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 450 personnel worldwide and with annual revenues of more than U.S. $70 million. For more information on SEC, visit www.sec-tn.com.

About Homeland Security Capital Corporation (HOMS)

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. The company is headed by former Congressman C. Thomas McMillen, who served three consecutive terms in the U.S. House of Representatives from the 4 th Congressional District of Maryland. HOMS 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.

HOMS’s portfolio of companies, in addition to SEC, includes:

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.

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.

For more information about Homeland Security Capital Corporation, 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 HOMS 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.

Copyright Business Wire 2010