Homeland Security Capital Corporation Subsidiary Receives Recognition for Successful Project Completion

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) has been awarded the Environmental Business Journal (EBJ)’s 2009 Business Achievement Award for Project Merit in Remediation and Waste Management for their beryllium remediation and decontamination project in Albany, Oregon. In addition, DOE’s Best Practices Quarterly Fall 2009 newsletter featured SEC’s project as the ‘Excellence in Environmental Security, Safety and Health Achievement award winner.

"We are honored to receive these awards,” said Christopher P. Leichtweis, SEC CEO and Homeland Security Capital Corporation’s President. "We believe they reflect our track record of excellence and our unwavering commitment to plan and implement large-scale remediation of contaminated facilities in a safe and compliant manner.”

The National Energy Technology Laboratory (NETL), part of DOE’s national laboratory system, is owned and operated by the U.S. Department of Energy (DOE). NETL supports DOE’s mission to advance the national, economic, and energy security of the United States. SEC’s awards recognize the successful completion of a $2.4 million project for the DOE involving the clean-up of a beryllium contamination at the NETL site in Oregon, in June 2009. DOE-NETL project manager stated in a letter to SEC, "In all my years with the federal government, I can honestly say that this has been the best project I have worked on.”

SEC decontaminated 48,500 square feet of surface area, including office material, and laboratory equipment of significant value, historical artifacts and various items considered irreplaceable. Approximately 250 tons of beryllium-contaminated equipment was removed, making 27 laboratories and three high bay areas in 12 buildings become reusable. After the safe and cost efficient disposal of beryllium, SEC also developed and implemented an effective environmental, health, and safety plan to manage the potential exposure hazards.

C. Thomas McMillen, Chairman and CEO of HOMS, said, "This award underscores our commitment to successfully cleaning up contaminated facilities which pose tremendous threats to our safety and health. I believe this should be a top national priority and SEC serves as a good role model for getting the job done correctly.”

The DOE Award specifically recognizes SEC’s Stace Johnson, for the team’s innovative use of Decon Gel as a beryllium decontamination technique for the mitigation and abatement of hazardous particulate. The testing and use of Decon Gel in beryllium decontamination reduced labor costs and potential exposure to workers. Studies have shown using this gel reduces the volume of waste typically generated from traditional decontamination methods.

The 2009 EBJ awards will be presented in a special ceremony at Environmental Industry Summit VIII in Coronado, California on the evening of March 3, 2010. The complete list of award recipients can be found online: www.ebiresearch.com/2009_EBJ_Awards.

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.

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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.