SERVICE STREAM LIMITED — Remuneration Information 2008

Oct 30, 2008

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

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www.servicestream.com.au

ASX & Media Release

31 October 2008

Review of senior executive employment agreements

Service Stream Limited (ASX Code: SSM) advises that it has completed an independent review and revision of the remuneration and employment arrangements for its senior executives. This follows advice to shareholders on 29 January 2008 that the Company would review the agreements for Messrs Patrick Flannigan (Managing Director and CEO) and Michael Doery (Finance Director and COO).

The review was completed with the assistance of specialist remuneration, packaging and governance consultants Oppeus Pty Ltd. The review of both senior executive roles included the design of the remuneration and reward arrangements to reflect their roles and responsibilities in line with standard industry practice (both in terms of the nature and quantum of remuneration). The criteria employed in determining the long term incentives included Service Stream achieving a defined total shareholder return (TSR) and a ranking within S&P/ASX 300 index levels for the current and future financial periods. This at risk, long term incentive may result in significant share based payments to the executives. The recommendations were reviewed and subsequently endorsed by the Company’s Remuneration and Nomination Committee headed by Chairman Mr John Llewellyn (Lyn) Davies.

Having regard to the current economic climate, Messrs Flannigan and Doery approached the Board of Service Stream requesting the removal of these long term share based incentive arrangements from their current employee agreements. Messrs Flannigan and Doery noted that while Service Stream remained in a strong financial position, they did not believe it was in the best interests of shareholders in the current economic climate for the Company to enter into an additional share based incentive arrangement with its executive employees.

Messrs Flannigan and Doery’s request was reviewed and accepted by the Board. The existing Annual Remuneration and at risk incentives, under Messrs Flannigan and Doery’s employee agreements, remain in place and are set out in the Annual Financial Report.

Service Stream’s Chairman Mr Lyn Davies commented on the announcement saying:

“While we were pleased with the independent review and recommendations provided by Oppeus, the decision by our key executives to relinquish their long term share based incentives at this time demonstrates an outstanding commitment to both the Company and Shareholders in what is a challenging environment.”

For further enquiry on the review and revision to the remuneration agreements please direct all contact to the Chairman.

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For further details contact:

John Llewellyn (Lyn) Davies, Chairman Service Stream Limited Tel: (61 3) 9677 8817

About Service Stream Limited:

Service Stream is a public company listed on the Australian Stock Exchange (Code: SSM) with annualised revenues approaching A$650 million. The company is an industrial services enterprise with proven outsourced infrastructure deployment, management and service capabilities across 52 locations throughout Australia. Service Stream’s workforce of over 4,000 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.