|  | Exhibit      99.1 For      Immediate ReleaseContact:  Harvey      Grossblatt, PresidentUniversal      Security Instruments, Inc.410-363-3000,      Ext. 224orDon      Hunt, Jeff LambertLambert,      Edwards & Associates, Inc.616-233-0500 |
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|                                                       |   | Three Months Ended December 31, |      |
|------------------------------------------------------------|--------|-----------------------------------------------------|-----------|
|                                                       |   | 2008                                                |      |   | 2007 |   |
| Sales                                                      |   | $                                                   | 5,595,049 |   |   | $ | 7,776,986 |   |
|                                                       |   |                                                |      |   |   |   |   |   |
| Net      income from continuing operations                 |   |                                                | 292,513   |   |   |   | 1,165,817 |   |
| Income      per share from continuing operations:          |   |                                                |      |   |   |   |   |   |
| Basic                                                      |   |                                                | 0.12      |   |   |   | 0.47 |   |
| Diluted                                                    |   |                                                | 0.12      |   |   |   | 0.47 |   |
|                                                       |   |                                                |      |   |   |   |   |   |
| Loss      from discontinued operations                     |   |                                                | 0.00      |   |   |   | (2,801,606 | ) |
| Loss      per share from discontinued operations:          |   |                                                |      |   |   |   |   |   |
| Basic                                                      |   |                                                | 0.00      |   |   |   | (1.13 | ) |
| Diluted                                                    |   |                                                | 0.00      |   |   |   | (1.13 | ) |
|                                                       |   |                                                |      |   |   |   |   |   |
| Net      income (loss):                                    |   |                                                | 292,513   |   |   |   | (1,635,789 | ) |
| Net      income (loss) per share – basic             |   |                                                | 0.12      |   |   |   | (0.66 | ) |
| Net      income (loss)per share – diluted            |   |                                                | 0.12      |   |   |   | (0.66 | ) |
| Weighted      average number of common shares outstanding: |   |                                                |      |   |   |   |   |   |
| Basic                                                      |   |                                                | 2,467,028 |   |   |   | 2,489,132 |   |
| Diluted                                                    |   |                                                | 2,467,028 |   |   |   | 2,489,132 |   |

|                                                       |   | Nine Months Ended December 31, |       |
|------------------------------------------------------------|--------|----------------------------------------------------|------------|
|                                                       |   | 2008                                               |       |   | 2007 |   |
| Sales                                                      |   | $                                                  | 20,169,229 |   |   | $ | 27,152,181 |   |
|                                                       |   |                                               |       |   |   |   |   |   |
| Net      income from continuing operations                 |   |                                               | 1,405,953  |   |   |   | 3,175,726 |   |
| Income      per share from continuing operations:          |   |                                               |       |   |   |   |   |   |
| Basic                                                      |   |                                               | 0.57       |   |   |   | 1.28 |   |
| Diluted                                                    |   |                                               | 0.57       |   |   |   | 1.26 |   |
|                                                       |   |                                               |       |   |   |   |   |   |
| Gain      (loss) from discontinued operations              |   |                                               | 3,381,254  |   |   |   | (3,702,373 | ) |
| Gain      (loss) per share from discontinued operations:   |   |                                               |       |   |   |   |   |   |
| Basic                                                      |   |                                               | 1.36       |   |   |   | (1.49 | ) |
| Diluted                                                    |   |                                               | 1.36       |   |   |   | (1.47 | ) |
|                                                       |   |                                               |       |   |   |   |   |   |
| Net      income (loss):                                    |   |                                               | 4,787,207  |   |   |   | (526,647 | ) |
| Net      income (loss) per share – basic        |   |                                               | 1.93       |   |   |   | (0.21 | ) |
| Net      income (loss) per share – diluted           |   |                                               | 1.93       |   |   |   | (0.21 | ) |
| Weighted      average number of common shares outstanding: |   |                                               |       |   |   |   |   |   |
| Basic                                                      |   |                                               | 2,480,330  |   |   |   | 2,481,802 |   |
| Diluted                                                    |   |                                               | 2,480,330  |   |   |   | 2,523,316 |   |

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|                                                                                                                                                                        |   | December 31, 2008 |       |   | March 31, 2008 |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|------------|--------|--------------------------|--------|
|                                                                                                                                                                        |   |                        |       |   |                     |   |
| ASSETS                                                                                                                                                                      |   |                        |       |   |                     |   |
|                                                                                                                                                                        |   |                        |       |   |                     |   |
| Cash                                                                                                                                                                        |   | $                           | 180,755    |   |                     | $      | 3,863,784 |   |
| Accounts      receivable and amount due from factor                                                                                                                         |   |                        | 5,105,608  |   |                     |   | 6,144,169 |   |
| Inventory                                                                                                                                                                   |   |                        | 9,378,114  |   |                     |   | 5,357,488 |   |
| Prepaid      expenses                                                                                                                                                       |   |                        | 156,947    |   |                     |   | 206,197 |   |
| Assets      held in receivership                                                                                                                                            |   |                        | 219,402    |   |                     |   | 2,850,731 |   |
|                                                                                                                                                                        |   |                        |       |   |                     |   |   |   |
| TOTAL      CURRENT ASSETS                                                                                                                                                   |   |                        | 15,040,826 |   |                     |   | 18,422,369 |   |
|                                                                                                                                                                        |   |                        |       |   |                     |   |   |   |
| INVESTMENT      IN HONG KONG JOINT VENTURE                                                                                                                                  |   |                        | 10,688,904 |   |                     |   | 9,986,579 |   |
| PROPERTY,      PLANT AND EQUIPMENT – NET                                                                                                                              |   |                        | 130,530    |   |                     |   | 130,347 |   |
| OTHER      ASSETS AND DEFERRED TAX ASSET                                                                                                                                    |   |                        | 2,216,942  |   |                     |   | 1,929,622 |   |
|                                                                                                                                                                        |   |                        |       |   |                     |   |   |   |
| TOTAL      ASSETS                                                                                                                                                           |   | $                           | 28,077,202 |   |                     | $      | 30,468,917 |   |
|                                                                                                                                                                        |   |                        |       |   |                     |   |   |   |
| LIABILITIES      AND SHAREHOLDERS’ EQUITY                                                                                                                             |   |                        |       |   |                     |   |   |   |
|                                                                                                                                                                        |   |                        |       |   |                     |   |   |   |
| Amount      due to factor                                                                                                                                                   |   | $                           | 101,911    |   |                     | $      | - |   |
| Accounts      payable and accrued expenses                                                                                                                                  |   |                        | 2,748,636  |   |                     |   | 2,465,292 |   |
| Liabilities      held in receivership                                                                                                                                       |   |                        | 219,402    |   |                     |   | 7,823,450 |   |
| Accrued      liabilities                                                                                                                                                    |   |                        | 893,420    |   |                     |   | 665,080 |   |
|                                                                                                                                                                        |   |                        |       |   |                     |   |   |   |
| TOTAL      CURRENT LIABILITIES                                                                                                                                              |   |                        | 3,963,369  |   |                     |   | 10,953,822 |   |
|                                                                                                                                                                        |   |                        |       |   |                     |   |   |   |
| LONG      TERM OBLIGATION                                                                                                                                                   |   |                        | 95,324     |   |                     |   | 91,160 |   |
|                                                                                                                                                                        |   |                        |       |   |                     |   |   |   |
| SHAREHOLDERS’      EQUITY:                                                                                                                                            |   |                        |       |   |                     |   |   |   |
| Common      stock, $.01 par value per share; authorized 20,000,000 shares; issued and      outstanding 2,443,292 and 2,487,867 at December 31, 2008 and March 31,      2008 |   |                        | 24,448     |   |                     |   | 24,879 |   |
| Additional      paid-in capital                                                                                                                                             |   |                        | 13,316,830 |   |                     |   | 13,453,378 |   |
| Retained      earnings                                                                                                                                                      |   |                        | 10,677,231 |   |                     |   | 5,890,023 |   |
| Other      comprehensive income                                                                                                                                             |   |                        | -          |   |                     |   | 55,655 |   |
|                                                                                                                                                                        |   |                        |       |   |                     |   |   |   |
| TOTAL      SHAREHOLDERS’ EQUITY                                                                                                                                       |   |                        | 24,018,509 |   |                     |   | 19,423,935 |   |
|                                                                                                                                                                        |   |                        |       |   |                     |   |   |   |
| TOTAL      LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                                                       |   | $                           | 28,077,202 |   |                     | $      | 30,468,917 |   |

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