Homeland Security Capital acquires Safety and Ecology Corp. for $20.4 million

ARLINGTON, Va., 20 March 2008.Homeland Security Capital Corp., a company engaged in the acquisition, development, and consolidation of homeland security-related businesses, has acquired Knoxville-based Safety & Ecology Holdings Corporation (SEC) as part of its strategy to capitalize on opportunities within the homeland security industry. The acquisition is expected to generate revenues in excess of $55 million for 2008, and will enhance HSCC's position in the global marketplace for nuclear remediation and detection products and services.

SEC is an international provider of global environmental, hazardous, and radiological infrastructure remediation, emergency response, and advanced construction services. Its customers include the United States federal government and the United Kingdom government.

HSCC management believes SEC will be well positioned for growth due to the renewed spending trends in the Department of Defense (DoD), the Department of Energy (DOE), and the Federal Emergency Management Agency (FEMA).