(OTCBB:HOMS) Homeland Security Capital Corp

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Homeland Security Capital Corporation Announces Second Quarter Results

(OTCBB:HOMS) Homeland Security Capital Corp.

Homeland Security Capital Corporation Announces Second Quarter Results

Tuesday February 17, 9:00 am ET

Achieves Quarterly EBITDAS of $1.2 Million

Files 10Q for Quarter Ended December 31, 2008

ARLINGTON, Va.-Homeland Security Capital Corporation , an international provider of specialized technology-based radiological, nuclear, environmental, disaster relief, and security solutions to government and commercial customers, recently filed its quarterly report on Form 10Q for the quarter ended December 31, 2008.

For the quarter the Company reported revenue of $22.2 million and income from operations of $0.3 million. Overall, the Company reported a net loss of $0.4 million or $0.01 per share for the quarter*. The Company?s earnings before interest, taxes, depreciation, amortization and non-cash compensation were $1.2 million. EBITDAS is a measurement of how the Company views its operational effectiveness and the overall performance to its annual plan.

For the six months ended December 31, 2008, the Company recorded revenue of $39.9 million and a loss from operations of $1.0 million. The Company?s overall net loss for the six month period was $2.4 million or $0.05 per share*. For the six months the Company achieved positive EBITDAS of $1.4 million.

The Company consolidates the results of Homeland Security Capital Corporation, the holding company, and its subsidiaries Safety & Ecology Holdings Corporation, Nexus Technologies Group, Inc., and Polimatrix, Inc. At December 31, 2008 there were 45.3 million shares of common stock outstanding.

HSCC Chairman and CEO C. Thomas McMillen said, ?We continue to exceed our revenue projections thanks to the performance of our Safety & Ecology subsidiary. Our backlog remains robust and we continue to bid on and win strategic contracts.? McMillen continued, ?We made progress controlling our administrative costs this quarter and we remain focused on growing our margins for the remainder of FY 2009.?

HSCC President and Safety & Ecology Corporation CEO Christopher Leichtweis commented, ?We were successful in starting up several projects we booked in the first quarter and continue to aggressively pursue new business. Our Safety & Ecology team has stepped up to a new level in managing the increasing amounts of ongoing projects and business opportunities we have and continue to pursue.?

* Net loss and per share data calculated before giving effect to beneficial conversion charges associated with preferred stock.

Investor Earnings Conference Call:

The Company will host an investor conference call on Wednesday, February 18, 2009 at 9:00 AM EST. We ask that all participants preregister by sending an e-mail to: IR@hscapcorp.com

Dial-in number: : 407-0778; : 689-8565

Conference ID: 313652

Replay number: (Toll Free) 1-877-660-6853; : 1-201-612-7415

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 include:

Safety and Ecology Corporation , 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.

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.

Contact:

Homeland Security Capital Corporation Knoxville, TN Office Anne Smith, 865-342-7668 asmith@sec-tn.com or Arlington, VA Office Marianne Ricci, 703-528-7073 x100 mricci@hscapcorp.com Source: Homeland Security Capital Corporation

Profile for Homeland Security Capital Corp.

Homeland Security Capital Corporation, together with its subsidiaries, operates as a consolidator in the fragmented homeland security industry in the United States. It designs, develops, and installs integrated security systems for the corporate and governmental security markets in the mid-Atlantic region; and designs, customizes, installs, connects, and maintains closed circuit television and access control systems for customers in the private and public sectors. The company offers security solutions, including access control, alarm/intrusion, CCTV, communication, perimeter protection, and bomb and metal detection security systems; designs and manufactures network capable radiological detec... Detailed HOMS Company Description...

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