  We explain the millisecond variability detected by Rossi X-ray Timing
Explorer (RXTE) in the X-ray emission from a number of low mass X-ray binary
systems (Sco X-1, 4U1728-34, 4U1608-522, 4U1636-536, 4U0614+091, 4U1735-44,
4U1820-30, GX5-1 and etc) in terms of dynamics of the centrifugal barrier, a
hot boundary region surrounding a neutron star. We demonstrate that this region
may experience the relaxation oscillations, and that the displacements of a gas
element both in radial and vertical directions occur at the same main
frequency, of order of the local Keplerian frequency. We show the importance of
the effect of a splitting of the main frequency produced by the Coriolis force
in a rotating disk for the interpretation of a spacing between the QPO peaks.
We estimate a magnitude of the splitting effect and present a simple formula
for the whole spectrum of the split frequencies. It is interesting that the
first three lowest-order overtones fall in the range of 200-1200 Hz and match
the kHz-QPO frequencies observed by RXTE. Similar phenomena should also occur
in Black Hole (BH) systems, but, since the QPO frequency is inversely
proportional to the mass of a compact object, the frequency of the
centrifugal-barrier oscillations in the BH systems should be a factor of 5-10
lower than that for the NS systems. The X-ray spectrum formed in this region is
a result of upscattering of a soft radiation (from a disk and a NS surface) off
relatively hot electrons in the boundary layer. We also briefly discuss some
alternative QPO models, including a possibility of acoustic oscillations in the
boundary layer, the proper stellar rotation, and g-mode disk oscillations.
