Security Intelligence Technologies, Inc. Signs New Licensee for 3 Year Agreement Valued at $1.5 Million.

Business Editors/High-Tech Writers

NEW YORK--(BUSINESS WIRE)--May 24, 2004

Security Intelligence Technologies, Inc. (OTCBB:SITG), and its subsidiary, Homeland Security Strategies, Inc. (HSS), today announced it has signed a three year distribution agreement with a prominent Greek security company, appointing them as licensee with the right to sell its counterterrorism, surveillance, counter-surveillance and security products in Greece.

The distributor paid an initial non-refundable fee of $150,000 and is obligated to make minimum annual purchases of $500,000 per year of SITG's proprietary security and intelligence equipment, totaling $1,500,000 under the terms of the agreement. In return for the initial fee, the distributor receives a 10% discount on its first $1,500,000 worth of purchases. In addition, the distributor has an option to renew the contract for an additional three years with minimum annual purchase requirements $500,000 per year.

Ben Jamil, Chief Executive Officer of SITG states, "This agreement provides us with a great opportunity to penetrate the European security market and to promote our products through a highly respected Greek security firm. Our new distributor is well established in the business community and caters to an extensive list of high profile clients and high-risk individuals."

SITG recently returned from visiting the distributor where they demonstrated to the distributor's high profile clients such proprietary products as the VIP-16 Bomb Jammer, a portable radio frequency detection and jamming system used in counter terrorism and bomb prevention, the ECMSA -1300 Electronic Countermeasure Signal Analyzer that detects virtually all clandestine transmitters and the VL-6500 Non-Linear Junction Detector which electromagnetically detects the presence of semi-conductors, electronic components and most radio frequency transmissions and surreptitious listening devices.

There can be no assurance the new distributor will fulfill its minimum annual purchase requirements contained in the agreement or that the resulting revenues will be realized.

About Security Intelligence Technologies, Inc.

Security Intelligence Technologies, Inc. and its wholly owned subsidiaries, develop, manufacture and market leading edge solutions and advanced proprietary systems for counterterrorism, surveillance, counter-surveillance, countermeasure, personal and home security markets worldwide through its corporate website, international seminar program and through its offices located in New York, Miami, Beverly Hills, Washington DC, Hong Kong, Israel and London. SITG's product line and security technologies are currently distributed throughout the US, Europe, Asia, the Middle East and Latin America and are marketed under the names SITG, Homeland Security Strategies (HSS) and The Counter Spy Shop of Mayfair, London(R).

Safe Harbor Statement

Statements in this press release and oral statements that may be made by the Company or by officers, directors or employees of the Company acting on the Company's behalf may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "expects," "intends," "may," "should," or "anticipates" to be uncertain forward-looking statements. The forward looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission. The material under "Risk Factors" and management's discussion and analysis of fiscal condition and results of operations are included in the company's Form 10-K for the fiscal year ended June 30, 2003. Information on SITG's corporate website is not a part of this press release.

Analyst/Investor kits and showroom tours available upon request. For more information see SITG's websites at: www.spyzone.com, www.gcomtech.com and www.bombjammer.com.