SERVICE STREAM LIMITED — Capital/Financing Update 2009

Oct 15, 2009

Service Stream Limited Level 12, 555 Lonsdale Street Tel: 61 3 9677 8888 Melbourne, Victoria, 3000 Fax: 61 3 9677 8800 PO Box 14570 ABN: 46-072-369-870 Melbourne, Victoria 8001

www.servicestream.com.au

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ASX & Media Release

16 October 2009

Closure of Renounceable Rights Issue and Shortfall

The Directors of Service Stream Limited (Service Stream) (ASX: SSM) advise that the renounceable Rights Issue closed on 13 October 2009 with Shareholders subscribing for a total of 78,252,831 New Shares.

Commenting on the Rights Issue, Mr Lyn Davies, Chairman, said:

“The Board and I are very pleased that over 90% of entitlement offer shares have been subscribed through the Rights Issue.”

Mr Doery, Acting Managing Director, added:

“We are delighted with the response. The commitment shown by Shareholders in subscribing for their entitlement shares demonstrates they are supportive of the recent direction and actions taken by the Board in reducing debt and lowering gearing levels as we position Service Stream for future growth.”

The Rights Issue of 86,600,209 is fully underwritten by Austock Securities Limited pursuant to an underwriting agreement with Service Stream. Service Stream has notified Austock Securities Limited of the shortfall and requested it to subscribe, or procure subscriptions, for the shortfall of less than 10% of the total issue, or 8,347,378 New Shares at an issue price of $0.38.

The shares subscribed for under the rights offer (including the shortfall) are proposed to be issued on Wednesday 21 October 2009.

For further details contact:

Service Stream Limited Michael Doery, Acting Managing Director Tel: (61 3) 9677 8888 Stephen Campbell, Company Secretary Tel: (61 3) 9677 8829 About Service Stream Limited:

Service Stream is a public company listed on the Australian Securities Exchange (ASX Code: SSM) with annualised revenues approaching A$600 million. The company is an industrial services enterprise with proven outsourced infrastructure deployment, management and service capabilities across 60 locations throughout Australia. Service Stream’s technical workforce of approximately 5,000 supports large asset owners on the deployment, management and servicing of essential network infrastructure in the telecommunication, electricity, water and gas sectors. For more information please visit the Company’s website at www.servicestream.com.au.

ASX and Media Release

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