Stream Communications Network and Media Inc SCNWF

News Release!

[JD56]

FOR IMMEDIATE RELEASE

STREAM COMMUNICATIONS ANNOUNCES TWO NON-BINDING OFFERS

WARSAW, Poland, July 1, 2009 - The Board of Stream Communications Network & Media Inc. (the Company or Stream Communications) (OTC Pink Sheets: SCNWF)wishes to announce that two non- binding offers have been received for the subscribers of Stream Communications SP. z o.o. owned jointly by the Company and our partner Penta. The offers, both from qualified purchaser groups, are being evaluated presently. If the offers are deemed workable, negotiations with one of the two groups could be expected to begin within the next two weeks. Penta has also confirmed their willingness to sell at this time, in advance of the agreed targeted exit in early 2011, on the proviso that price and terms are acceptable. A further announcement will be made if and when a successful offeror is selected and sale agreement executed, which will identify the successful offeror and also give an outline of the agreed sale price, due diligence period, closing date, as well as an estimate of the sale proceeds for eventual pro-rata distribution to shareholders. Investors are cautioned that these offers are very preliminary in nature and there are no assurances that any sale will be successfully negotiated on terms acceptable to the Company and its partner.