June 19, 2006

QSGI Reaffirms Guidance for EPS Profitability in the Second Quarter

HIGHTSTOWN, NJ—June 19, 2006—QSGI, Inc. (NYSE Arca: QGI) today announced that based on a preliminary review of its second quarter results, the company expects to be profitable on an earnings per share basis for the second quarter of 2006. These preliminary results are consistent with the guidance management provided on the first quarter conference call.

Marc Sherman, chairman and chief executive officer, stated, “In 2005, we made the deliberate decision to invest heavily in the business in order to expand our capabilities, enhance our infrastructure and add key personnel to quickly attack the sizeable market opportunities we had identified. As a result of these initiatives, we are generating very strong growth across all three of our divisions and are surpassing our fixed cost threshold. We have all the right pieces in place to continue our strong double-digit revenue growth and margin expansion throughout 2006 and beyond.”

About QSGI
QSGI is the only data security and regulatory compliance provider offering a full suite of end-of-life and other life-cycle services for a Fortune 1000 corporation’s and government client’s entire information technology (IT) platform. QSGI offsets its clients’ expenses through its value-added remarketing program. Prior to resale, the company utilizes its proprietary Department of Defense (DOD) level certified data sweep to eliminate otherwise recoverable data. QSGI reduces its clients' potential liability by ensuring regulatory and environmental compliance for IT products. QSGI also maintains and provides services on enterprise-class hardware, including mainframes, midrange servers, tape storage products and disk storage products. Given the sensitive nature of the company’s client relationships, it does not provide the names of its clients.

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.