iCapital Finance Plays Important Role in Storage Computer and Beijing Challenger Group’s Distribution Agreement

Irvine June 5, 2004--Storage Computer Corp., a Nashua, NH Corporation (AMEX: SOS) (“Storage Computer”), announced that it has signed a distribution agreement with Beijing Challenger Group (“Beijing Challenger”) of China. Storage Computer is a provider of high performance storage and date management software. Beijing Challenger will carry Storage Computer’s CyberNAS software product offering in their portfolio for distribution throughout China.

Randall Letcavage, Managing Director of iCapital, states, “We believe that years of product development have given Storage Computer a recognizable name, which appoints them as the ideal company poised for distribution. Both Storage Computer and Beijing Challenger will benefit from this new forged agreement. Storage Computer can take advantage of Beijing Challenger’s leading IT distribution chains in Northern China, while Beijing Challenger will profit from Computer Storage’s high performance storage management solutions. iCapital is excited to have helped facilitate the relationship between the two companies. This is the second major distribution agreement in less than 60 days. SOS is now poised for significant near term and future revenue.”

The addition of Storage Computer’s Network Attached Storage (NAS) software products provides Beijing Challenger with a range of NAS offerings for their markets. The CyberNAS software solutions enable Beijing Challenger’s VARs and Integrators to provide comprehensive NAS systems for all their client needs.

ABOUT iCAPITAL FINANCE, INC.:
iCapital is a leading investment banking consulting firm specializing in the Micro and Small Cap Public Companies and Middle Market Private Companies. Clients range from NASDAQ, OTC.BB clients to AMEX and NASDAQ (Nation Markets) to a number of Middle Market Companies with revenues in excess of $250,000,000 and Municipal clients such as the State of New Jersey. iCapital offers a wide range of financial advisory services, including M&A, equity and debt financing, strategic advisory and financial consulting. iCapital’s industry experience and financial resources enables it to assist high growth companies meet their corporate objectives.

ABOUT STORAGE COMPUTER CORP.:
Storage Computer Corporation (AMEX:SOS - News), delivers high performance storage management solutions, develops and manufactures software-driven, multi-host storage solutions for powering advanced business applications. Based on open system commodity hardware components and architectures, Storage Computer's high-bandwidth storage technologies supports a great variety of applications, including advanced database activities, interactive multi-media, multi-cast video content, medical imaging and more. Company information may be found at http://www.storage.com.

ABOUT BEIJING CHALLENGER GROUP:
Beijing Challenger - Beijing Challenger Group, founded in 1995, is strategically headquartered in Beijing, the economic, political and cultural center of China. Through its partnership with IBM, Challenger aggressively expanded in the late 1990's and has become one of the leading companies in the IT distribution industry in Northern China. Its main products and services including IBM Unix Server, NT Server, Notebook, desktop PC, storage devices, and corporate IT consulting services. The company currently consists of five subsidiary companies including Beijing Wanzhong Info Tech, Beijing Sihai Lanxiang Tech, Beijing Ruihua Electronic Tech, Beijing XingRun Jiayuan Science & Tech, and Shanghai Helian Electronic Tech. With the five subsidiaries, the company plans to expand its market in both Northern and Eastern China. Beijing Challenger also sells its product through its online store at www.itserver.com.cn.

Recognition
•    Top dealer for IBM products among the five-star resellers in China
•    Ranked No. 2 of IBM Server Sales in Eastern China in 2003
•    Championship of Sales for IBM PCD in 2002

The information in this Press Release includes certain “forward-looking” statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will provide to be correct. Factors that could cause results to differ include, but are not limited to successful performances of internal plans, the impact of competitors, and general economic risks and uncertainties.

Contact Information:
iCapital Finance, Cliff Keddie (ckeddie@icapitalfinance.com), 2603 Main Street, Suite 1150, Irvine, CA 92614, Office: (949) 260-8070; Fax: (949) 260-0116




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