Pacific Safety Products Announces Stock Option Grant

KANATA, ONTARIO--(Marketwire - March 11, 2011) - Pacific Safety Products Inc. (TSX VENTURE:PSP) ("PSP" or the "Company") has granted an aggregate of 2,425,000 stock options to certain officers and employees of the Company, including to Mr. Douglas Lucky, the Company's Chief Executive Officer. The stock options are exercisable at a price of $0.10 and expire five years from the date of grant. The stock options granted to Mr. Lucky are subject to a vesting schedule where one-third of the options vested upon the grant of the options, with the balance vesting at various times over the ensuing period ending June 30, 2012. The stock options granted to PSP's other employees are subject to a vesting schedule as well, where one-third of options granted vest upon grant, and the balance vest at various times over the ensuing 12 month period.

About PSP:

The mission statement of Pacific Safety Products Inc. is ...we bring everyday heroes home safely™. PSP is an established industry leader in the production, distribution and sale of high-performance and high-quality safety products for the defence and security market. These products include body armour to protect against ballistic, stab and fragmentation threats, ballistic blankets to reduce blast effects, and protective products against chemical and biological hazards. PSP is the largest body armour manufacturer in Canada, directly supplying the Canadian Department of Defence, Federal Government Agencies and major Canadian law enforcement organizations. The Company also provides specialized law enforcement and safety products through APS Distributors, a division of PSP that services law enforcement and public safety agencies across the country. The Company, through its U.S. subsidiary Sentry Armor Systems Inc., provides body armour products to U.S. based law enforcement and private security firms. The Company also produces tactical clothing. Pacific Safety Products is a reporting issuer in British Columbia, Alberta and Ontario, Canada and publicly trades under the symbol PSP on the TSX Venture Exchange.