QSGI Announces Contract Expansions for Two Network Maintenance Customers

HIGHTSTOWN, N.J. and PALM BEACH, Fla., July 23 /PRNewswire-FirstCall/ --
QSGI Inc. (OTC Bulletin Board: QSGI), 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 that its wholly owned subsidiary,
Contemporary Computer Services, Inc. ("CCSI") has signed a multi-year IT
support contract with a major U.S. hedge fund and a managed services contract
with a large East coast hospital.
Marc Sherman, chairman and chief executive officer of QSGI, commented,
"Our business momentum continues with the signing of these two latest
contracts. We will provide end-to-end infrastructure support to our corporate
client for its network infrastructure, which infrastructure includes both
Microsoft and Cisco product, to ensure business continuity and timely
resolution in any mission critical situations. This contract expansion stems
from a relationship that began a few years ago with CCSI's design and
implementation of the client's Cisco-based network infrastructure. We are
gratified with this client's desire to expand on our existing relationship and
look forward to providing the resources needed to ensure the highest quality
service."
Mr. Sherman continued, "With QSGI's acquisition of CCSI, we have added a
network operating center (NOC) and highly qualified engineers to provide fault
management and performance management services to our clients, which can be
done remotely from a central location. Under the agreement, we will support
the hospital's entire network infrastructure, including Cisco equipment, as
well as several critical servers. While identifying and taking action to
prevent network incidents are critical to any business, these activities can
become life-saving in the hospital environment and we are pleased to be able
to provide the best in network monitoring services to our clients 24/7/365."
Mr. Sherman concluded, "Over the next year, we expect to generate in
excess of $250,000 from these contracts on a combined basis. With the
acquisition of CCSI, we look forward to providing our full scope of services
to these clients and others, including mainframe and mid-range processor
maintenance, network infrastructure design, maintenance and monitoring, as
well as maintenance and on-site data security and compliance for enterprise
storage."
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.
SOURCE QSGI Inc.

David K. Waldman, or Klea K. Theoharis, both of Crescendo Communications, LLC,
+1-212-671-1020, qsgi@crescendo-ir.com