**Exhibit        99.1**

|                                                            | **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 Reports First-Quarter Results**

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***— more        —***

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**Universal/Page        2**

**UNIVERSAL        SECURITY INSTRUMENTS, INC.**

**CONSOLIDATED        STATEMENTS OF INCOME**

|                                                                   |   | Three Months Ended June 30, |      |
|------------------------------------------------------------------------|--------|-------------------------------------------------|-----------|
|                                                                   |   | 2008                                            |      | 2007 |   |
| Sales                                                                  |   | $                                               | 6,192,801 |   | $ | 10,449,343 |   |
|                                                                   |   |                                            |      |   |   |   |   |
| Net                  income from continuing operations                 |   |                                            | 457,139   |   |   | 1,204,844 |   |
| Income                  per share from continuing operations:          |   |                                            |      |   |   |   |   |
| Basic                                                                  |   |                                            | 0.18      |   |   | 0.49 |   |
| Diluted                                                                |   |                                            | 0.18      |   |   | 0.48 |   |
|                                                                   |   |                                            |      |   |   |   |   |
| Loss                  from discontinued operations                     |   |                                            | (53,659   | ) |   | (413,842 | ) |
| Loss                  per share from discontinued operations:          |   |                                            |      |   |   |   |   |
| Basic                                                                  |   |                                            | (0.02     | ) |   | (0.17 | ) |
| Diluted                                                                |   |                                            | (0.02     | ) |   | (0.17 | ) |
|                                                                   |   |                                            |      |   |   |   |   |
| Net                  income:                                           |   |                                            | 403,480   |   |   | 791,002 |   |
| Net                  income per share – basic                    |   |                                            | 0.16      |   |   | 0.32 |   |
| Net                  income per share – diluted                  |   |                                            | 0.16      |   |   | 0.31 |   |
| Weighted                  average number of common shares outstanding: |   |                                            |      |   |   |   |   |
| Basic                                                                  |   |                                            | 2,487,867 |   |   | 2,479,979 |   |
| Diluted                                                                |   |                                            | 2,487,867 |   |   | 2,533,733 |   |

**CONSOLIDATED        BALANCE SHEETS**

|                                                                                                                                                                                              |   | June 30, 2008 |       | March 31, 2008 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------|------------|--------------------------|--------|
| ASSETS                                                                                                                                                                                            |   |                    |       |                     |   |   |   |
| Cash                                                                                                                                                                                              |   | $                       | 3,288,509  |                     | $      | 3,863,784 |   |
| Accounts                  receivable and amount due from factor                                                                                                                                   |   |                    | 6,496,340  |                     |   | 6,144,169 |   |
| Inventory                                                                                                                                                                                         |   |                    | 6,814,018  |                     |   | 5,357,488 |   |
| Prepaid                  expenses                                                                                                                                                                 |   |                    | 345,561    |                     |   | 206,197 |   |
| Current                  assets of discontinued operations                                                                                                                                        |   |                    | 2,729,142  |                     |   | 2,850,731 |   |
| TOTAL                  CURRENT ASSETS                                                                                                                                                             |   | $                       | 19,673,570 |                     | $      | 18,422,369 |   |
| INVESTMENT                  IN HONG KONG JOINT VENTURE                                                                                                                                            |   |                    | 10,279,352 |                     |   | 9,986,579 |   |
| PROPERTY,                  PLANT AND EQUIPMENT – NET                                                                                                                                        |   |                    | 119,035    |                     |   | 130,347 |   |
| OTHER                  ASSETS AND DEFERRED TAX ASSET                                                                                                                                              |   |                    | 1,829,620  |                     |   | 1,929,622 |   |
| TOTAL                  ASSETS                                                                                                                                                                     |   | $                       | 31,901,577 |                     | $      | 30,468,917 |   |
|                                                                                                                                                                                              |
| LIABILITIES                  AND SHAREHOLDERS’ EQUITY                                                                                                                                       |   |                    |       |                     |   |   |   |
|                                                                                                                                                                                              |   |                    |       |                     |   |   |   |
| Accounts                  payable and accrued expenses                                                                                                                                            |   | $                       | 3,602,218  |                     | $      | 2,465,292 |   |
| Current                  liabilities of discontinued operations                                                                                                                                   |   |                    | 7,816,252  |                     |   | 7,823,450 |   |
| Accrued                  liabilities                                                                                                                                                              |   |                    | 673,774    |                     |   | 665,080 |   |
| TOTAL                  CURRENT LIABILITIES                                                                                                                                                        |   | $                       | 12,092,244 |                     | $      | 10,953,822 |   |
| LONG                  TERM OBLIGATION                                                                                                                                                             |   |                    | 92,527     |                     |   | 91,160 |   |
| SHAREHOLDERS’                  EQUITY:                                                                                                                                                      |   |                    |       |                     |   |   |   |
| Common                  stock, $.01 par value per share; authorized 20,000,000                  shares; issued and outstanding 2,487,867 and                  at June 30, 2008 and March 31, 2008 |   |                    | 24,879     |                     |   | 24,879 |   |
| Additional                  paid-in capital                                                                                                                                                       |   |                    | 13,456,871 |                     |   | 13,453,378 |   |
| Retained                  earnings                                                                                                                                                                |   |                    | 6,293,503  |                     |   | 5,890,023 |   |
| Other                  comprehensive income                                                                                                                                                       |   |                    | (58,447    | )                        |   | 55,655 |   |
| TOTAL                  SHAREHOLDERS’ EQUITY                                                                                                                                                 |   | $                       | 19,716,806 |                     | $      | 19,423,935 |   |
| TOTAL                  LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                                                                 |   | $                       | 31,901,577 |                     | $      | 30,468,917 |   |

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