SOURCE: Homeland Security Group International

September 15, 2006 11:06 ET

Homeland Security Group International Signs Joint Venture Agreement With American Security Ventures LLC

Joint Venture to Bid on Contracts as Disabled Veteran Business Enterprise

SAN DIEGO, CA -- (MARKET WIRE) -- September 15, 2006 -- Homeland Security Group International (PINKSHEETS: HMSG) announced today that the company has entered into a Joint Venture relationship with California-based American Security Ventures LLC. ASV, a privately held company based in San Diego, California focuses on services and technologies related to the security and intelligence fields.

American Security Ventures LLC was specifically designed to bid on government contracts set aside for service disabled veteran owned businesses. The company is registered with the federal government as a Service Disabled Veteran Owned Small Business (SDVOB) and has applied for registration status with the State of California as a Disabled Veteran Business Enterprise (DVBE). Both of these classifications are very beneficial in the bidding process due to federal government programs which target SDVOBs and DVBEs. A portion of all ASV profits will be donated to the non-profit Freedom Is Not Free foundation assisting wounded servicemen and women and supporting the widowed spouses of fallen heroes.

"We are ecstatic over this contractual relationship and the potential it proposes," stated HMSG CEO Colonel Jeffrey Powers. "The companies can bid in concert and be placed near or at the top of the list for set-aside contracts," concluded Powers.

Although service disabled from injuries sustained during his service in the United States Marine Corps, Colonel Powers and HMSG have been unable to register as SDVOSB and DVBE due to the public status of Homeland Security Group International.

The companies have already made major steps toward bidding contracts as a joint venture. HMSG COO Mark Wilson and ASV President Carl Frank attended the recent San Diego convention of Service Disabled Small Business Owners. Frank has also joined and is attending numerous meetings of local organizations which mentor service disabled small business owners with the object of helping them do business with the US Government.

The Freedom Is Not Free foundation has recently added Colonel Powers to its board of directors and the two companies have co-located their offices in Sorrento Valley, California.

ABOUT CARL FRANK PRESIDENT AMERICAN SECURITY VENTURES LLC

Carl Frank grew up in South Bend, Indiana. He served with the 101st Airborne (Screaming Eagles) 1st Brigade, 2nd Battalion, and 327th infantry in the Republic of South Viet Nam during 1967-68. This elite paratrooper battalion distinguished itself as having the longest continuous service of any combat unit in Viet Nam. Carl's battalion was on a "search and destroy" mission in Quang Tri Province when the paratroopers encountered heavy fire from an entrenched North Vietnamese Army Division. On March 21, 1968 Carl led his comrades on a pre-dawn assault. As he was attempting to rescue a fallen comrade, he was hit by an AK-47 round shattering one of his bones in his right forearm just below the elbow. Although the paratroopers defeated the enemy, the battle dragged on several days and 101st sustained many casualties. During his stay in the hospital, Carl was assigned to assist other soldiers in the hospital's rehabilitation facility. After his military service Carl earned B.S. degree in Business Administration from Indiana University and then went on to complete his M.B.A. from the University of Arizona. Carl is President of Freedom Is Not Free foundation and resides with his wife, Nancy, two children and a grandchild in San Diego, California.

ABOUT HOMELAND SECURITY GROUP INTERNATIONAL

Homeland Security Group International, Inc. (HMSG), (PINKSHEETS: HMSG) is a technology based company with corporate headquarters in north county San Diego. HMSG's mission is to develop and commercialize technology focused on providing increased security for both civilian and military personnel throughout the world. Under the leadership of Colonel Jeffrey A. Powers, USMC (Retired), HMSG has assembled a portfolio of technology and services through alliances with established defense-related companies and through internal development that can be brought to market in a cost-efficient and timely manner. The Company has also entered into alliances with the following firms to design and market safety and security products for homeland defense and security applications. Recon Mountaineer, LLC, (an Oceanside, CA.-based designer and manufacturer of military combat gear for the United States Armed Forces). GPS World Supply for the sale and distribution of GPS units with exclusive Iraq and Afghanistan databases. FED-COMM for the sales and marketing of Anti-IED technology and communication products. Protective Enterprises, LLC for the development, marketing and sales of lightweight ballistic armor products.

This press release contains forward-looking statements pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements include risks and uncertainties that may cause the company's plans to change and are in no way intended to guarantee that the company will be successful in executing its plans. HMSG's common stock currently trades on the over-the-counter "Pink Sheets" under the symbol "HMSG." This press release in no way constitutes any recommendation regarding the securities of HMSG or its affiliates. Any person reading this press release is advised that this release should be considered in light of all facts and circumstances regarding the business and financial condition and prospects of HMSG, and no inference is made in this release contains all such information.

Contact Information

  • CONTACT INFORMATION:
    Homeland Security Group International
    Colonel Jeffrey A. Powers
    800-544-7795
    Email Contact