Press Release

Homeland Security Capital Corporation’s Environmental Remediation Division Awarded Substantive Portion of $33.5 Million NASA-Plum Brook Reactor Contra

By SpaceRef Editor
September 11, 2008
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Homeland Security Capital Corporation (HSCC) (OTCBB: HOMS), an international provider of specialized technology-based radiological, nuclear, environmental, disaster relief, and security solutions to government and commercial customers, announced that its subsidiary, Safety and Ecology Corporation (SEC), was awarded a substantive portion of a $33.5 million NASA-Plum Brook reactor facility contract. SEC is the significant prime team member of the decontamination and decommissioning project that was awarded to Clauss Construction of Lakeside, CA.

The contract includes performing final decontamination, and radiation protection activities to support the complete decontamination and release of the facility. Also included is the safe packaging, shipment and disposal of on-site low-level radioactive waste and contaminated soil existing at the time of contract award and generated during the contract performance period.

As a prime team member, Safety and Ecology Corporation will perform the final decontamination and preparation of the reactor building, underground radioactive waste storage tanks and numerous other support buildings and structures. Additionally, SEC will manage the survey and segregation of contaminated soil, overseeing the characterization, packaging, transportation, and disposal of this material.

This cost-plus-fixed-fee contract is valued at more than $33.5 million with a thirty-month performance period. NASA’s Glenn Research Center of Cleveland, OH, manages the reactor facility.

“This is a high profile contract for our industry and provides a unique opportunity and visibility with this important client,” said Safety and Ecology Corporation CEO and HSCC President Christopher P. Leichtweis. “The Clauss team worked very hard to win this contract and received high marks for our technical approach and innovative decommissioning methods and we look forward to successfully meeting, if not exceeding, NASA’s expectations for the project.”

Former Maryland Congressman and HSCC Chairman and CEO C. Thomas McMillen said, “We are very proud of our team’s effort in gaining this contract. This project can help us make an indelible footprint in the nuclear decontamination and nuclear reactor decommissioning space for the company.”

About Clauss Construction

Clauss Construction is a service-disabled Veteran-owned small business headquartered in Lakeside, California specializing in demolition, hazardous waste, and earthwork serving the continental US and Hawaii. For more information, visit: http://www.claussconstruction.com/.

About National Aeronautics and Space Administration (NASA) Plum Brook

For more information on NASA and the Plum Brook reactor facility, please visit: http://www.nasa.gov/home/hqnews/2008/may/HQ_C08030_Plum_Brook.html.

About Safety and Ecology Corporation

Safety and Ecology Corporation 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 420 personnel worldwide and with annual revenues of more than $55 million. For more information on SEC, please visit us: www.sec-tn.com.

About Homeland Security Capital Corporation

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. Former Maryland Congressman C. Thomas McMillen, who served three consecutive terms in the U.S. House of Representatives from the 4th Congressional District of Maryland, heads the company.

Homeland Security Capital Corporation 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. Homeland Security Capital Corporation’s portfolio of companies, in addition to Safety and Ecology Corporation, includes:

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.

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.

For more information about Homeland Security Capital Corporation, or to be added to our e-mail distribution list, please 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 Homeland Security Capital Corporation 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.

SpaceRef staff editor.