SERVICE STREAM LIMITED — Capital/Financing Update 2008

Jul 3, 2008

www.servicestream.com.au

==> picture [149 x 37] intentionally omitted <==

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

ASX & Media Release

4 July 2008

Service Stream confirms positive outlook

Diversified infrastructure services company Service Stream Limited (ASX Code: SSM) confirms that it remains on track to meet previously stated earnings guidance for the FY08 and FY09 periods of $37 million and $48 million EBITDA respectively. This represents year-on-year EBITDA growth of close to 30%.

Service Stream continues to experience robust trading conditions, with margins across the group performing at or above expectations. Earnings guidance is supported by the Company’s existing order book where it delivers asset deployment, management and service capabilities to clients in the telecommunications, electricity, gas and water sectors.

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

“The current trading conditions and outlook validates the Company’s broad growth strategy focusing on defensive infrastructure sectors, and is supported by a proven track record in providing essential services to major utility customers in Australia.”

“Our order book is underpinned for the next five years and beyond by current contracted works, and further strengthened by a significant pipeline of organic growth opportunities within existing business segments.”

“Additionally, our early implementation of a structured skills & people development strategy through the acquisition of Milcom some three years ago is now proving to be the key plank in delivering the necessary skills to execute our growth requirements.”

The Company also noted that its balance sheet supports the projected strong organic growth, and provides adequate scope for further strategic acquisitions.

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 7069 / 9200-7098

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.