SERVICE STREAM LIMITED — Director's Dealing 2007

May 24, 2007

Service Stream Limited Level 12, 555 Lonsdale Street Melbourne, 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

25 May 2007

ASX & Media Release

Director Related Share Transaction

Service Stream Limited (ASX Code: SSM) advises that entities associated with two of the Company's Non-Executive Directors Mr Adrian Field and Mr Russell Small, have released 5,000,000 SSM shares, the maiority of which was acquired by a leading Sydney based institution.

Messrs Field and Small commented on the transaction saying, "As major shareholders in Service Stream, we feel it was in the best interests of all shareholders to facilitate the entry of another major institution on to the Company's register."

This represents the first sale by any entity associated with the two directors since their involvement with the Service Stream Group dating back to February 2004. The two directors collectively will hold 11,928,802 shares and options in Service Stream post transaction.

Messrs Field and Small added that, "No further shares will be sold by our entities at this time."

For further details contact:

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

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

Jo May, Investors & Media Alitum Partnership Tel: (61 3) 9200 7069

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.

Appendix 3Y

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity Service Stream Limited
ABN: 46 072 369 870

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Adrian Field
Date of last notice	28 February 2007

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest. Date of change	Field Enterprises (Aust) Pty Ltd - sole director and shareholder AJF Investments Pty Ltd - sole director and shareholder 22 May, 2007.
No. of securities held prior to change	6,171,026 Ordinary fully paid shares 2,266,667 Options
Class	Ordinary fully paid shares and options
Number acquired	Nil
Number disposed	2,500,000 Ordinary fully paid shares
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Average price of \$1.89 per share, totalling \$4,725,000
No. of securities held after change	3,671,026 Ordinary fully paid shares 2,266,667 Options
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On-market trade.

⁺ See chapter 19 for defined terms.

Part 2 – Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

$+$ See chapter 19 for defined terms.

Appendix 3Y

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity Service Stream Limited
ABN: 46 072 369 870

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Russell Small
Date of last notice	19 April 2007

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Small Enterprises (Aust) Pty Ltd - sole director and shareholder Prilo Pty Ltd - sole director and shareholder
Date of change	22 May, 2007.
No. of securities held prior to change	6,224,442 Ordinary fully paid shares 2,266,667 Options
Class	Ordinary fully paid shares and options
Number acquired	Nil
Number disposed	2,500,000 Ordinary fully paid shares
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Average price of \$1.89 per share, totalling \$4,725,000
No. of securities held after change	3,724,442 Ordinary fully paid shares 2,266,667 Options
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On-market trade.

⁺ See chapter 19 for defined terms.

Part 2 – Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

$+$ See chapter 19 for defined terms.