SERVICE STREAM LIMITED — Share Issue/Capital Change 2007

Apr 15, 2007

Service Stream Limited Level 12, Lonsdale Street Melbourne, Victoria, 3001 PO Box 14570 Melbourne, Victoria 8001 www.servicestream.com.au

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

ASX Release

16 April 2007

The Company Announcements Office ASX Limited PO Box H224 Australia Square Sydney NSW 1215

Dear Sir/Madam,

Shares issued under Dividend Reinvestment Plan

The attached Appendix 3B relates to shareholders whom have elected to reinvest their dividend announced on 23 February 2007. The details of the dividend reinvestment plan were released to the market on 14 March 2007. Shareholders have elected to receive a total of 627,911 shares at a price of \$1.37 per share in accordance with the current dividend reinvestment plan.

For further details contact:

Stephen Campbell Company Secretary Service Stream Limited Tel: (61 3) 9677 8888

On behalf on the Board

Stephen Campbell Company Secretary

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.

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement,

application for quotation of additional securities

and agreement

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 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

Service Stream Limited

ABN

46 072 369 870

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

$\mathbf{I}$ ⁺Class of ⁺securities issued or to be issued

Ordinary shares.

627.911

• $\overline{2}$ Number of ⁺securities issued or to be issued (if known) or maximum number which may be issued
• 3 Principal terms of the *securities (eg, if options, exercise price and expiry date; if. partly paid *securities, the amount outstanding and due dates for payment; if securities. *convertible the conversion price and dates for conversion)

Fully paid ordinary shares issued under the Dividend Reinvestment Plan as announced

on 14 March 2007. Securities issued at a 5% discount to the 5 day average market price.

⁺ See chapter 19 for defined terms. 1/1/2003

4	Do the + securities rank equally in all respects from the date of allotment with an existing class of quoted securities?	Fully paid ordinary shares - Yes
	If the additional securities do not rank equally, please state: the date from which they do extent to which they the participate for the next dividend, (in the case of a trust. distribution) or interest payment the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
5	Issue price or consideration	\$1.37
6	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)	Issue of shares pursuant to the company's Dividend Reinvestment Plan.
7	Dates of entering "securities into uncertificated holdings or despatch of certificates	12 April 2007.
8	Number and telass afl οf *securities quoted $-$ on ASX (including the securities in clause 2 if applicable)	Number + Class 140,631,382 Ordinary

		Number	+ Class
-9	Number and + class of all *securities not quoted on ASX (including the securities in clause 2 if applicable)	19,950,000	Options over ordinary shares
10	Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)	No change from existing policy.

Part 2 - Bonus issue or pro rata issue

11	security holder Is. approval required?	N/A
$12 \overline{ }$	Is the issue renounceable or non- renounceable?	N/A
13	Ratio in which the "securities will be offered	N/A
14	Class of securities to which the offer relates	N/A
15	*Record determine date to entitlements	N/A
16	Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?	N/A
17	Policy for deciding entitlements in relation to fractions	N/A
18	Names of countries in which the entity has *security holders who will not bе sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with.	N/A
	Cross reference: rule 7.7.
19	Closing date for receipt οf acceptances or renunciations	N/A

20	Names of any underwriters	N/A
21	Amount of any underwriting fee or commission	N/A
22	Names of any brokers to the issue	N/A
23.	Fee or commission payable to the broker to the issue	N/A
24	any handling – of fee Amount payable to brokers who lodge acceptances or renunciations on behalf of "security holders	N/A
25.	If the issue is contingent on *security holders' approval, the date of the meeting	N/A
26	Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled	N/A
27.	If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders	N/A
28	Date rights trading will begin (if $N/A$ applicable)
29.	Date rights trading will end (if applicable)	N/A
30	How do *security holders sell their entitlements in full through a broker?	N/A
31	How do *security holders sell part of their entitlements through a broker and accept for the balance?	N/A

32	How do *security holders dispose $N/A$ of their entitlements (except by sale through a broker)?
-33	*Despatch date	N/A

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

34	Type of securities (tick one)
		(a) $\mathbf{Y}$ Securities described in Part 1
(b)		All other securities Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

				Tick to indicate you are providing the information or
documents

-35	If the "securities are "equity securities, the names of the 20 largest holders of the additional "securities, and the number and percentage of additional "securities held by those holders
-36	If the securities are equity securities, a distribution schedule of the additional *securities setting out the number of holders in the categories $1 - 1,000$ $1.001 - 5.000$ $5.001 - 10.000$ 10,001 - 100,000 $100.001$ and over
-37	A copy of any trust deed for the additional "securities"

Entities that have ticked box 34(b)

• 38 Number of securities for which ^*quotation is sought
• 39 Class of *securities for which quotation is sought
• 40 Do the *securities rank equally in all respects from the date of allotment with an existing *class of quoted *securities?

If the additional securities do not rank equally, please state:

• $\bullet$ the date from which they do
• the extent to which they participate for the next dividend. (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in
  relation to the next dividend, distribution or interest payment
• 41 Reason for request for quotation now

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another security, clearly identify that other security)

42 Number and ⁺class of all ⁺securities quoted on ASX (including the securities in clause 38)

Quotation agreement

• $\mathbf{1}$ *Quotation of our additional *securities is in ASX's absolute discretion. ASX may quote the *securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
• $\bullet$ The issue of the "securities to be quoted complies with the law and is not for an illegal purpose.
• There is no reason why those *securities should not be granted *quotation.
• An offer of the "securities for sale within 12 months after their issue will not require disclosure under section $707(3)$ or section $1012C(6)$ of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any *securities to be quoted and that no-one has any right to return any *securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the 'securities be quoted.
• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the *securities to be quoted, it has been provided at the time that we request that the *securities be quoted.
• If we are a trust, we warrant that no person has the right to return the *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the *securities be quoted.
• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

$\overline{4}$ We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before *quotation of the 'securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

sio f(1A

Date: 16 April 2007

(Company secretary)

Print name: Stephen Campbell

Sign here:

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