QRS Music Technologies, Inc. Reports Three Month Results and Nine Month Results

QRS Music Technologies, Inc. (OTCBB: QRSM) today
reported sales and net income for the three months and the nine months
ended March 31, 2006.
   Sales for the three months ended March 31, 2006, were $4,465,173
with a net loss of $63,275 (available to common shareholders), or $.01
per share fully diluted. Comparable amounts for the year-ago period,
ended March 31, 2005, were total sales of $4,315,004 with net income
of $597,240 (available to common shareholders), or $.06 per share
fully diluted.
   Sales for the nine months ended March 31, 2006, were $14,154,689
with net income of $289,203 (available to common shareholders), or
$.03 per share fully diluted. Comparable amounts for the year-ago
period, ended March 31, 2005, were total sales of $15,995,760 with net
income of $1,427,287 (available to common shareholders), or $.15 per
share fully diluted.

   About QRS Music Technologies, Inc. 

   QRS Music Technologies, Inc. manufactures and distributes pianos
and piano accessories, Pianomation(R) musical instrument digital
interface (MIDI) systems for acoustic and digital pianos, and compact
discs and music rolls for player pianos. The QRS Pianomation(R) MIDI
system is the first product of its kind to "marry" analog and digital
technology and can turn any piano into a reproducing player piano. QRS
Music was founded in 1900 and is based in Naples, Florida. QRS is
traded over the counter on the OTCBB: QRSM. Additional information
about QRS is available at http://www.qrsmusic.com/.

   Forward-Looking Statements 

   Statements made in this news release that relate to future plans,
events or performances are forward-looking statements. Any statements
containing words such as "believes," "should," "anticipates," "plans,"
or "expects" as well as other statements are forward-looking, and
those statements involve risks and uncertainties outside of the
control of QRS and are based on current expectations. Consequently,
actual results could differ materially from the expectations expressed
in these forward-looking statements. Attention is directed to
cautionary statements in our filings on Form 10K-SB for the fiscal
year ended June 30, 2005, and our other filings with the Securities
and Exchange Commission. All those filings are available on the Web
site of the Securities and Exchange Commission at www.sec.gov.
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Selected Unaudited Financial Data


                          For 3       For 3       For 9       For 9
                          Months      Months      Months      Months
                          Ended       Ended       Ended       Ended
                         3/31/2006   3/31/2005   3/31/2006   3/31/2005
                       -----------------------------------------------


Operating Data:
Sales                    4,465,173   4,315,004  14,154,689  15,955,760
Cost of sales            2,730,047   2,590,716   9,276,930  10,584,630
Gross Profit             1,735,126   1,724,288   4,877,759   5,371,130

Selling, general and
 administrative expense  1,594,314     457,295   3,582,617   2,426,714
Research and 
 development               171,487     234,023     661,045     431,447
Income from operations     (30,675)  1,032,970     634,097   2,512,969

Interest Expense            19,504      10,634      29,606      25,394
Income before Taxes        (50,179)  1,022,336     604,491   2,487,575
Provision for Income
 Taxes                     (19,000)    393,000     219,000     964,000
----------------------------------------------------------------------
Less current yr
 preferred stock
 dividends in arrears       32,096      32,096      96,288      96,288
----------------------------------------------------------------------
Net Earnings (Losses)      (63,275)    597,240     289,203   1,427,287
----------------------------------------------------------------------
Net income per share         (0.01)       0.06        0.03        0.15
----------------------------------------------------------------------

Balance Sheet Data:
Total Assets            12,936,814  11,683,703  12,936,814  11,683,703
----------------------------------------------------------------------
Total Liabilities        2,925,424   1,832,042   2,925,424   1,832,042
----------------------------------------------------------------------
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