EXHIBIT 99.1
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            NETWORK-1 RECEIVES $1.5 MILLION FROM EXERCISE OF WARRANTS

NEW YORK, March 24, 2006 -- Network-1 Security Solutions, Inc. (OTC Bulletin
Board: NSSI), today announced that it had received $1.5 million from the
exercise of 1,352,152 common stock purchase warrants that expired on March 22,
2006. The warrants were originally issued in 1999 as part of a private financing
and were each exercisable for one share of Network-1 Common Stock at prices
ranging from $1.00 to $1.11 per share.

            Network-1 is currently involved in maximizing the value of its
intellectual property portfolio and is focusing its efforts on licensing its
Remote Power Patent (U.S. Patent No. 6,218,930). The Remote Power Patent relates
to, among other things, several key technologies underlying the IEEE 802.3af
Power over Ethernet (PoE) standard that was approved on June 13, 2003 by the
Institute of Electrical and Electronic Engineers (IEEE) (the Standard). The
Standard governs the delivery of Power over Ethernet cables in order to power
network connected devices including, among others, VoIP phones, wireless LAN
access points and IP network cameras.

ABOUT NETWORK-1 SECURITY SOLUTIONS, INC.

Network-1 Security Solutions, Inc. is engaged in the acquisition, development,
licensing and protection of its intellectual property and proprietary
technologies. As part of its business strategy it is offering licenses to third
parties who Network-1 believes could benefit from the technologies covered by
its patents. In February 2004, the Company initiated its licensing efforts
relating to its patent (U.S. Patent No. 6,218,930) covering the remote delivery
of Power over Ethernet cables.

THIS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE "SAFE
HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.
THESE STATEMENTS ADDRESS FUTURE EVENTS AND CONDITIONS CONCERNING THE COMPANY'S
BUSINESS PLANS. SUCH STATEMENTS ARE SUBJECT TO A NUMBER OF RISK FACTORS AND
UNCERTAINTIES AS DISCLOSED IN THE COMPANY'S QUARTERLY REPORT ON FORM 10-QSB FOR
THE THREE MONTHS ENDED SEPTEMBER 30, 2005 INCLUDING, AMONG OTHERS, THE ABILITY
OF NETWORK-1 TO OBTAIN LICENSE AGREEMENTS FROM THIRD PARTIES FOR ITS PATENT
PORTFOLIO, UNCERTAINTY OF PATENT LITIGATION, THE COMPANY'S ABILITY TO ACHIEVE
REVENUES AND PROFITS FROM ITS PATENT PORTFOLIO, THE COMPANY'S ABILITY TO RAISE
CAPITAL WHEN NEEDED, FUTURE ECONOMIC CONDITIONS AND TECHNOLOGY CHANGES AND
LEGISLATIVE, REGULATORY AND COMPETITIVE DEVELOPMENTS. EXCEPT AS OTHERWISE
REQUIRED TO BE DISCLOSED IN PERIODIC REPORTS, THE COMPANY EXPRESSLY DISCLAIMS
ANY FUTURE OBLIGATION OR UNDERTAKING TO UPDATE OR REVISE ANY FORWARD-LOOKING
STATEMENT CONTAINED HEREIN.


CONTACTS:
Company
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Network-1 Security Solutions, Inc.
Corey M. Horowitz, 212-829-5770
Corey@Network-1.com
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Or
Investors
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Alliance Advisors, LLC
Alan Sheinwald, 914-244-0062
asheinwald@allianceadvisors.net
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