November17, 2006

QSGI Announces Move to the OTC

HIGHTSTOWN, NJ—November 17, 2006—QSGI, Inc. (NYSE Arca: QGI) today announced that it plans to withdraw the listing of its common stock from NYSE Arca, Inc., formerly the Pacific Exchange, after which the company’s common stock will be traded on the OTC. QSGI has decided to undertake this move to increase the liquidity of its shares and broaden the company’s market visibility. The withdrawal is expected to be effective within the next month. Until such time as QSGI is registered on the OTC with a new ticker symbol, the company will continue to trade on the NYSE Arca under the ticker QGI. Future notice will be given as to the definitive timing that the transition will occur.

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