Leading industrial and technical services group Service Stream...

Leading industrial and technical services group Service Stream Limited (ASX Code: SSM) announced today that it
has been awarded a significant new services contract with Telstra Limited (ASX Code: TLS) supporting the
service delivery on their national payphone network.

The new contract is for 3 years, with 2 one-year options, with Service Stream estimating revenues of approximately
$35 million per annum (approximately $175m over 5 years). Under the contract, Service Stream will provide
services to Telstra's national payphone network including programmed general cleaning, graffiti removal, technical
and mechanical maintenance (including faults), and new installations.

Commenting on the announcement, Service Stream's Managing Director and CEO Patrick Flannigan said:

"Service Stream is proud to support Telstra in their on-going commitment to managing the payphone network
across urban and select major regional areas. This is another sizeable contract for Service Stream and
demonstrates the confidence shown in our capabilities by such a valued customer."

"The payphones contract also demonstrates the broadening of Service Stream's capabilities. We are moving from
delivering primarily technical services to the provision of holistic services to clients in the telecommunications
sector."

"The ability to provide comprehensive solutions allows Service Stream to achieve synergies and economies of
scale when delivering these critical services to clients."

This Services contract represents new work over and above existing contract arrangements with Telstra. These
include Installations & Maintenance in Sydney, Brisbane, Adelaide and Perth (telephony installation, network
faults, ADSL installations and exchange jumpering activities) and Specialist Services across all capital cities (pit &
pipe replacement, pole replacement, network upgrades, broadband network maintenance, optical fibre activities &
external plant maintenance).

The addition of this contract places Service Stream on track to completing more than 10,000 installations, faults
and general maintenance tasks nationally on a daily basis for their many clients in the telecommunications sector.