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QSGI Announces Two New Accounts for Data Security and Compliance Services

HIGHTSTOWN, N.J. and PALM BEACH, Fla., Oct. 23 /PRNewswire-FirstCall/ -- QSGI Inc. (OTC Bulletin Board: QSGI stock), the only provider of a full suite of information technology services to help corporations better manage IT assets, data center maintenance expenses, and ensure best practices for data security and regulatory compliance, today announced two new clients for the company's auditing and data erasure services. The company signed a multi-year contract with a leading global beverage company for erasure of hard drives contained within its copy machines--a new use for QSGI's 'server suitcase' solution. QSGI also signed a multi-year agreement with a business consulting and accounting firm, with offices in seven metropolitan areas across the U.S., for data erasure and hard drive destruction services.

Marc Sherman, chairman and chief executive officer of QSGI, commented, 'QSGI continues its momentum with the addition of two new clients for our Data Security and Compliance division. We are pleased with these latest developments and with the fact that our 'server suitcase' solution for onsite data audit and erasure services is being utilized for a new purpose--erasure of hard drives contained within copy machines. As technology has evolved, so have today's copy machines, which are now equipped with scanning and memory capabilities, which can contain highly sensitive corporate records and personal data. This has created yet another opportunity for QSGI to perform its automated asset auditing, Department of Defense (DOD) level data destruction and documentation for regulatory compliance.'

Mr. Sherman concluded, 'The need for protecting confidential information stored on computers is in no way diminishing and, in fact, has been accelerating with increasing incidents of identity theft and cyber crimes. In fact, our new accounting client has called upon QSGI to not only erase the data contained on its corporate hard drives, but also destroy the hard drives themselves for an added level of protection. While safeguards for in-service computer equipment have been escalating over the years, it is only recently that awareness of end-of-life computer issues has been moving to the forefront, as further illustrated by these latest contract awards.'

About QSGI

QSGI provides a full suite of information technology services to help corporations and governmental agencies better manage hardware assets, reduce maintenance expenses, build best practices for data security and assure regulatory compliance. With a focus on the entire range of IT platforms - from mainframes, midrange servers and PC, to network infrastructure and enterprise storage hardware, the services offered by QSGI are specifically designed to reduce total cost of ownership for IT assets and maximize the clients' return on their IT investment.

For enterprise class hardware in the data center, QSGI offers hardware maintenance services, hardware environment planning and consultation, refurbished whole systems, parts, features, upgrades and add-ons. Additionally, for desktop IT assets, servers and SAN products, QSGI offers a range of end-of-life services that include: automated asset auditing, Department of Defense (DOD) level data destruction, documentation for regulatory compliance, hardware refurbishment with worldwide remarketing or proper IT asset recycling.

Additionally, through its acquisition of Contemporary Computer Services, Inc. (CCSI), an enterprise class IT services provider with an extensive list of corporate, educational, and government customers, QSGI also performs network design, implementation, and monthly maintenance services on corporations' networking infrastructure as well as 24/7 IT monitoring and diagnostics through its North American Network Operating Center (NOC).

Given the sensitive nature of the company's client relationships, it does not provide the names of its clients. Additional information about the company is available at www.qsgi.com.

Statements about QSGI's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. QSGI intends that such forward-looking statements involve risks and uncertainties and are subject to change at any time, and QSGI's actual results could differ materially from expected results. QSGI undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.