Stream Global Services Announces Warrant Purchase of 425,000 Warrants for $.15 Each From Ares

November 4, 2009

BOSTON, Nov. 4 /PRNewswire-FirstCall/ -- Stream Global Services, Inc., (NYSE/AMEX: SGS), a premium business process outsource (BPO) service provider specializing in customer relationship management services for Fortune 1000 companies, today announced that pursuant to an August 14, 2009 agreement with Ares Management LLC, Stream today bought 425,000 of its public warrants held by Ares at a price of $.15 per warrant for a total of $63,750.

In addition, Stream today also announced an additional 11,023 of its publicly traded warrants have been exercised for a total exercise price of $66,138. Stream currently has 20,091,517 publicly traded warrants outstanding (NYSE/AMEX:SGS) to acquire common shares at a cash exercise price of $6.00 per common share that expire on October 17, 2011. In addition, Ares Management, Providence Equity Partners and Ayala Corporation continue to have participation rights to acquire 49,944,880 common shares for $6.00 per common share in cash, at a rate of 2.4364 common shares for each public warrant that is exercised for cash at $6.00 per share, if and when any of the publicly traded warrants are exercised. These participation rights expire when the public warrants expire on October 17, 2011. Ayala Corporation, which has the right to purchase the first 1.0 million of these shares, has exercised its participation right to purchase an additional 26,856 shares of common stock at $6.00 per share, for a total exercise to date of 55,120 shares.

About Stream Global Services:

Stream Global Services is a premium business process outsource (BPO) service provider specializing in customer relationship management services including sales, customer care and technical support for Fortune 1000 companies. Stream is a trusted partner to some of the world's leading technology, computing, telecommunications, retail, entertainment/media, and financial services companies. Our service programs are delivered through a set of standardized best practices and sophisticated technologies by a highly skilled workforce of approximately 30,000 employees based out of 50 solution centers in 22 countries supporting more than 30 languages. Stream continues to expand its global presence and service offerings to increase revenue, improve operational efficiencies and drive brand loyalty for its clients. To learn more about the company and its complete service offering, please visit www.stream.com.

    Contact Information:
    Sally Comollo
    Director of Marketing Communications
    sally.comollo@stream.com
    781-304-1847

SOURCE Stream Global Services, Inc.