SERVICE STREAM LIMITED — Capital/Financing Update 2007

Jul 2, 2007

Service Stream Limited Level 12, 555 Lonsdale StreetMelbourne, Victoria, 3000 PO Box 14570 Melbourne, Víctoria 8001 www.servicestream.com au

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

3 July 2007

ASX & Media Release

Second Major Utilities Construction & Maintenance Contract

Leading industrial and technical services group Service Stream Limited (ASX Code: SSM) announces that it has been awarded a second construction and maintenance contract for major works with Queensland's major power utility Energex.

This 2 year contract with a 2 year option is in addition to Service Stream's minor works contract announced in May 2007. As a result of this contract Service Stream's Queensland operations will now extend beyond minor construction and maintenance of the underground network for the South Coast Hub including the Gold Coast. Beaudesert and surrounding areas. Service Stream will now also provide major construction works within the entire Energex Distribution area in South East Queensland. Activities include installation of conduit and cable and all intermediate works.

Commenting on the announcement, Service Stream's Managing Director and CEO Patrick Flannigan said:

"We are proud that Energex has recognised our capability in the infrastructure asset management services in the Utilities sector. Our ability in leveraging our existing capability in an organic sense signifies another important step in the strategic direction of the Company.

Coupled with our recent acquisition of Serviceworks Metering Division we are now able to deliver major Utility providers a full turnkey solution involving proven outsourced field force management, technical support, customer contact, customer assistance and asset management capabilities."

For further details contact:

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

Jo Mav. Investors & Media Alitum Partnership Tel: (61 3) 9200 7069

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$300 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.