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.

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.

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