EXHIBIT 11.1
 
             UNIVERSAL SECURITY INSTRUMENTS, INC. AND SUBSIDIARIES 
                       COMPUTATION OF EARNINGS PER SHARE 
                                  (UNAUDITED) 
 
<TABLE>
                                        For the Nine Months Ended          
                                  Dec 31, 1995            Dec 31, 1994     
                               Amount    Per Share     Amount    Per Share <S>
                            <C>        <C>          <C>          <C>
PRIMARY: 
Average shares outstanding   3,245,568               3,241,711 
 
Dilutive stock options-
  based on the treasury
  stock method using the
  average market price                                     353 
 
Adjusted shares outstanding  3,245,568               3,242,064 
 
Net (loss)                  $ (407,587) $   (.13)   $ (410,234)  $  (.13) 

</TABLE>

<TABLE>
                                        For the Three Months Ended         
                                  Dec 31, 1995            Dec 31, 1994     
                               Amount    Per Share     Amount    Per Share <S>
                            <C>         <C>         <C>         <C>
PRIMARY: 
Average shares outstanding   3,245,175               3,245,139 
 
Dilutive stock options-based
  on the treasury stock
  method using the average
  market price                                              36 
 
Adjusted shares outstanding  3,245,175               3,245,175 
 
Net income (loss)           $   50,593  $    .02    $ (463,901)  $  (.14)

</TABLE>
<PAGE>

                                                                 EXHIBIT 11.1 
 
             UNIVERSAL SECURITY INSTRUMENTS, INC. AND SUBSIDIARIES 
                       COMPUTATION OF EARNINGS PER SHARE 
                                  (UNAUDITED) 
 
<TABLE>
                                        For the Nine Months Ended          
                                  Dec 31, 1995            Dec 31, 1994     
                               Amount    Per Share     Amount    Per Share <S>
                            <C>         <C>         <C>         <C>
FULLY DILUTED:
Average shares outstanding   3,245,568               3,241,711 
 
Dilutive stock options-based
  on the treasury stock
  method using the quarter-
  end market price if higher
  than the average market
  price                                                    353 
 
Adjusted shares outstanding  3,245,568               3,242,064 
 
Net (loss)                  $ (407,587) $   (.13)   $ (410,234)  $  (.13) 

</TABLE>
<TABLE>
                                        For the Three Months Ended         
                                  Dec 31, 1995            Dec 31, 1994     
                               Amount    Per Share     Amount    Per Share <S>
                            <C>         <C>         <C>          <C>
FULLY DILUTED:
Average shares outstanding   3,245,175               3,245,139 
 
Dilutive stock options-based
  on the treasury stock
  method using the quarter-
  end market price if higher
  than the average market
  price                                                     36 
 
Adjusted shares outstanding  3,245,175               3,245,175 
 

Net income (loss)           $   50,593  $    .02    $ (463,901)  $  (.14)

</TABLE>