SERVICE STREAM LIMITED — Capital/Financing Update 2007

Nov 21, 2007

Service Stream Limited Level 12, 555 Lonsdale Street Melbourne, Victoria, 3000 PO Box 14570 Melbourne, Victoria 8001

Tel: 61 3 9677 8888 Fax: 61 3 9677 8800 ABN: 46-072-369-870

www.servicestream.com.au

ASX & Media Release 22 November 2007

Telstra extends TCI contract

Services Stream Limited (ASX Code: SSM) is pleased to announce the awarding of an extension of its infrastructure deployment contract with Telstra Corporation Limited (ASX Code: TLS).

Total Communications Infrastructure Limited (TCI), a group company of Service Stream, has agreed terms on a 2 year extension to their national contract with Telstra covering the provision of wireless base station deployment services.

TCI will provide design, construction, equipment procurement, installation, testing and commissioning services to Telstra under the contract extension that will now run though to June 2009. TCI will work with Telstra to provide wireless coverage to new areas through the construction of new sites, augmenting existing site locations, and increasing capacity by enhancing existing infrastructure.

TCI provides asset deployment and management services to customers in the telecommunications sector. Turnkey solutions include site acquisition, environmental management, and the design and installation of wireless and related technologies ranging from small cellular repeater sites to national wireless networks.

A key reason for TCI's success in extending this contract has been its ability to provide innovative solutions in both design and construction in order to achieve lower per unit costs to Telstra.

Commenting on the announcement Service Stream Managing Director and CEO Mr Patrick Flannigan said:

"We are delighted to be working with Telstra on extending the coverage of their wireless network in Australia."

"Following on from TCI's involvement in the Next G™ network build, we are pleased to continue to provide innovative solutions in both network design and construction on a national scale."

Ends -

For further details contact: Patrick Flannigan, Managing Director & Chief Executive Officer Service Stream Limited Tel: (61 3) 9677 8888

Jo May & John Dowell Investors & Media Alitum Partnership Tel: (61 3) 9200 7066

Michael Doery, Executive Director & Chief Financial Officer Service Stream Limited Tel: (61 3) 9677 8888

About Service Stream Limited:

Service Stream is a public company listed on the Australian Stock Exchange (Code: SSM) with annual revenues approaching A$500 million. The company is an Australian owned and operated industrial services enterprise with proven outsourced field force management, technical support, customer contact, customer assistance and asset management capabilities. Service Stream aims to generate superior returns for shareholders by leveraging its equipment installation and maintenance capabilities across a range of infrastructure based industries. For more information please visit the Company's website at www.servicestream.com.au.