Shield Defense's New Non-lethal Cobra Stunlight to be Manufactured
in Swiss Precision Instrument Manufacturing Facility
Tuesday March 23, 8:02 am ET

COSTA MESA, Calif.--(BUSINESS WIRE)--March 23, 2004--Universal Guardian
Holdings, Inc. (OTCBB:UGHO - News), a provider of integrated homeland
security and personal defense solutions, today announced that it is entering
into a manufacturing agreement with Swissebauches Ltd., a Swiss
manufacturer of precision instruments and timepieces, to manufacture its
revolutionary Cobra Stunlight(TM).

The new Cobra StunLight(TM) is
one of the world's most versatile
non-lethal devices. This patent
pending product provides police
officers, military personnel,
security officers as well as
consumers with a non-lethal
weapon that instantly
illuminates, targets, and
launches a laser-aimed stream
of chemical agent to
temporarily blind and
temporarily incapacitate an
assailant at distances up to 21
feet.

"Our global resources and
efficiencies in manufacturing
precision products to exacting
specifications will deliver an exceptional product performance, quality and
cost value for the production of Cobra StunLight(TM)," stated George von
Burg, Managing Director of Swissebauches Ltd. "We have considerable
experience in the packaging and logistics of such high-quality products. On a
daily basis we ship products to manufacturers, distributors and major
retailers throughout North America, Europe and Asia," added Mr. von Burg.

"Performance and dependability are of the utmost importance when dealing
with a threat to your safety, whether you're a policeman, soldier, security
guard or a homeowner," stated Dennis Cole, President of Shield Defense, a
former Police Chief, Sheriff's Captain and SWAT Commander. "Swissebauches'
precision manufacturing operations, testing and certification will ensure that
every product shipped meets the performance criterion we have established,"
added Dennis Cole.

"In addition to exceptional performance, durability, shock and water
resistance are critical imperatives in the delivery of the Cobra
StunLight(TM)," stated Michael Skellern, Universal's Chairman and CEO. "We
are confident in Swissebauches' ability to deliver exceptional products that
meet the anticipated global demand for the Cobra StunLight(TM)."

About Swissebauches Ltd.

Swissebauches is a global company employing more than 4,000 people in four
(4) state of the art manufacturing facilities spanning from Switzerland to
China, its manufacturing operations are ISO 9001, EN 9001 and Swiss
Certified. Swissbauches is a fully integrated company with its own internal
research and development operations, tooling departments, automated
precision manufacturing and assembly facilities, product testing laboratories,
product certification, and global logistics department.
www.swissebauches.com.

About Shield Defense Corporation

Shield Defense Corporation, a wholly-owned subsidiary of Universal Guardian
Holdings, Inc., designs and produces non-lethal weapons and projectiles that
are designed for use in environments where mobility, accuracy, and
dependability are paramount, and meet existing consumer, homeland security,
military and law enforcement use-of-force requirements. Shield Defense
non-lethal weapons will provide military commanders with a variety of
offensive and defensive options to address appropriate threat conditions in
today's growing security and terrorist environment. www.ShieldDefense.com.

About Universal Guardian Holdings, Inc.

Universal Guardian and its subsidiary corporations provide products, systems,
and services to mitigate security and terrorist threats worldwide. From
integrated and intelligence, surveillance, reconnaissance systems and
interoperable command and control platforms to non-lethal weapons, UGHO
companies cover a wide range of security applications and markets, merging
cost-effective technology and ease of use, to secure entire threat
environments. www.universalguardian.com.

Safe Harbor Statement:

This news release contains certain forward-looking statements pertaining to
future anticipated projected plans, performance and developments, as well as
other statements relating to future operations and results. Any statements in
this news release that are not statements of historical fact may be
considered to be forward-looking statements. Written words such as "may,"
"will," "expect," "believe," "anticipate," "estimate," "intends," "goal,"
"objective," "seek," "attempt," or variations of these or similar words,
identify forward-looking statements. These statements by their nature are
estimates of future results only and involve substantial risks and
uncertainties, including those detailed from time to time in Universal
Guardian Holdings, Inc.'s reports filed with the Securities and Exchange
Commission. There can be no assurance that actual results will not differ
materially from expectations.