Exhibit 99.1
[NEWS FROM USI]
[AMERICAN STOCK EXCHANGE(R) LISTED]
                                                           For Immediate Release
                                                 Contact: Harvey Grossblatt, CEO
                                            Universal Security Instruments, Inc.
                                                          410-363-3000, Ext. 224
                                                                              or
                                                          Don Hunt, Jeff Lambert
                                             Lambert, Edwards & Associates, Inc.
                                                                    616-233-0500


                      Universal Security Instruments Posts
                      ------------------------------------
                         Highest Second Quarter Earnings
                         -------------------------------

       Sales Grow 33%; Earnings Rise 41% to Exceed $1 Million for Quarter

OWINGS  MILLS,  MD,  November 15, 2004 - Universal  Security  Instruments,  Inc.
(AMEX:  UUU) today  announced  the highest  quarterly  earnings in the company's
35-year history for its second quarter ended September 30, 2004.

The  Owings  Mills,  MD-based  designer  and  marketer  of safety  and  security
equipment posted net earnings for the quarter of $1,043,836,  or $0.66 per basic
share  ($0.59 per diluted  share),  and net sales which rose 33% to  $6,622,221,
compared  with net  earnings of  $740,446,  or $0.49 per basic share  ($0.43 per
diluted share), and net sales of $4,988,483.

For the six months  ended  September  30,  2004,  sales rose 22% to  $11,497,003
versus  $9,420,433  for the same period  last year.  The  Company  reported  net
earnings  of  $1,777,615,  or $1.13 per basic share  ($1.01 per  diluted  share)
compared to net  earnings  of  $1,592,945,  or $1.06 per basic share  ($0.93 per
diluted share) last year.

According to Universal,  sales of the  Company's  core  products,  such as smoke
alarms,  carbon monoxide alarms and ground fault circuit interrupters  continued
to grow  during the  period.  "We are  pleased  with our  results for the second
quarter as this was the first time Universal  successfully  broke the $1 million
mark in quarterly  earnings.  We were able to make the most of our opportunities
thanks to  outstanding  growth on both the  electrical  distribution  and retail
sales fronts and continued improved  operations by our Hong Kong joint venture,"
said  Harvey   Grossblatt,   chief  executive  officer  of  Universal   Security
Instruments.

"While the second  quarter is typically  our  strongest of the year, it is worth
noting that the multiple  hurricanes  that hit Florida  actually  reduced  sales
activity for us in that state - one of our best markets.  As that area now works
to rebuild during the coming  months,  we expect  increased  sales in support of
those  efforts.  Overall,  we continue to execute our  strategy to build  market
share in a quality-focused  manner and I believe we are well positioned  heading
into the second half of our fiscal year."

UNIVERSAL SECURITY INSTRUMENTS,  INC. is a U.S.-based  manufacturer (through its
Hong Kong Joint Venture) and distributor of residential  smoke,  fire and carbon
monoxide  alarms.  Founded  in 1969,  the  Company  has a  35-year  heritage  of
developing innovative and easy-to-install safety and security devices, including
smoke,  fire and carbon  monoxide  alarms.  For more  information  on  Universal
Security Instruments, visit the website at www.universalsecurity.com.

                                   -- more --


            7-A GWYNNS MILL COURT o OWINGS MILLS, MARYLAND 21117, USA
                   (410) 363-3000 o www.universalsecurity.com

<PAGE>

Universal/Page 2
                      UNIVERSAL SECURITY INSTRUMENTS, INC.
                        CONSOLIDATED STATEMENT OF INCOME
                        --------------------------------
<TABLE>
<CAPTION>

                                                                                                        (UNAUDITED)
                                                                                                   Three Months Ended September 30,
                                                                                                           2004          2003
                                                                                                       ------------   -----------
<S>                                                                                                    <C>            <C>
Sales                                                                                                  $  6,622,221   $ 4,988,483
Net income*                                                                                               1,043,836       740,446
Income per share
      Basic                                                                                                    0.66          0.49
      Diluted                                                                                                  0.59          0.43
Weighted average number of common shares outstanding
      Basic                                                                                               1,580,149     1,503,457
      Diluted                                                                                             1,757,296     1,724,693

<CAPTION>
                                                                                                        (UNAUDITED)
                                                                                                     Six Months Ended September 30,
`                                                                                                          2004          2003
                                                                                                       ------------   -----------
<S>                                                                                                    <C>            <C>
Sales                                                                                                  $ 11,497,003   $ 9,420,433
Net income*                                                                                               1,777,615     1,592,945
Income per share
      Basic                                                                                            $       1.13   $      1.06
      Diluted                                                                                          $       1.01   $      0.93
Weighted average number of common shares outstanding
      Basic                                                                                               1,572,558     1,500,412
      Diluted                                                                                             1,752,723     1,706,021
* Due to the tax benefit carryforward of prior years' operating losses, no tax liability was incurred.

<CAPTION>
                                                              CONSOLIDATED BALANCE SHEET
                                         ASSETS                                                               September 30,
                                                                                                              -------------
`                                                                                                           2004          2003
                                                                                                       ------------   -----------
<S>                                                                                                    <C>            <C>
Cash                                                                                                   $     80,602   $   690,873
Accounts receivable and amount due from factor                                                            4,595,203     1,383,280
Inventory                                                                                                 2,928,642     3,056,028
Prepaid expenses                                                                                            322,856
                                                                                                       ------------   -----------
                                                                                                                          313,528
TOTAL CURRENT ASSETS                                                                                      7,917,975     5,453,037

INVESTMENT IN HONG KONG JOINT VENTURE                                                                     5,544,627     4,492,665

PROPERTY AND EQUIPMENT - NET                                                                                 82,969        94,337
OTHER ASSETS AND DEFERRED TAX ASSET                                                                          72,385        11,472
                                                                                                       ------------   -----------
TOTAL ASSETS                                                                                           $ 13,617,956   $10,051,511
                                                                                                       ============   ===========

                          LIABILITIES AND SHAREHOLDERS' EQUITY

Accounts payable and accrued expenses                                                                  $  1,860,574   $ 1,277,579
Accrued liabilities                                                                                         722,903       644,549
Current obligations under capital lease                                                                      22,888
                                                                                                       ------------   -----------
                                                                                                                            2,750
TOTAL CURRENT LIABILITIES                                                                                 2,586,227     1,945,016
                                                                                                       ------------   -----------
LONG TERM DEBT                                                                                                   --            --
SHAREHOLDERS' EQUITY
Common stock, $.01 par value per share; authorized 20,000,000 shares; issued and outstanding
1,580,729 and 1,505,260 shares at September 30, 2004 and September 30, 2003, respectively                    15,809        15,053
Additional paid-in capital                                                                               11,244,465    11,075,683
Accumulated deficit                                                                                        (228,545)   (2,984,241)
                                                                                                       ------------   -----------
TOTAL SHAREHOLDERS' EQUITY                                                                               11,031,729     8,106,495
                                                                                                       ------------   -----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                                                             $ 13,617,956   $10,051,511
                                                                                                       ============   ===========
</TABLE>

All shares have been  adjusted to reflect  the  4-for-3  stock split  payable on
April 5, 2004.

Statements  contained in this press  release that are not  historical  facts are
forward-looking  statements  as that term is defined in the  Private  Securities
Litigation Reform Act of 1995.  Although  UNIVERSAL SECURITY  INSTRUMENTS,  INC.
believes that the expectations reflected in such forward-looking  statements are
reasonable;   the   forward-looking   statements   are   subject  to  risks  and
uncertainties  that could cause actual results to differ  materially  from those
projections.