Stream Reports 2007 Nine Month Results

    Financial and Operational Highlights    for the nine months ended September 30,    Financial Highlights    (In Canadian dollars)                            2007               2006                                                        $                  $    Revenues                                    5,640,847          4,765,816    Loss from operations                         (510,140)        (1,448,795)    Operational Highlights    (In revenue generating units -- RGUs)    Cable Television RGUs                          59,668              58213    Internet HFC RGUs                               4,250              2,075    Internet A-LAN RGUs                             2,748              3,248     [HFC: Hybrid fibre coaxial cable network; A-Lan: Apartment Local area      network or Ethernet]

Stream CEO Jan Rynkiewicz stated, "During the first nine months of 2007 wecontinued grow subscriber revenues and revenue generating units by increasingpremium cable and Internet subscribers. We invested in system upgrades toincrease the bi-directionality of our networks, thereby increasing the rangeof cable, internet and voice services that we can offer to customers. As aresult, we have begun to roll out telephony service in selected regions.

Mr. Rynkiewicz continued, "Gaining full ownership of the ASK network alsoallows us to gain further operating efficiencies and reduce costs. Subsequentto the quarter we continued to find efficiencies to reduce overhead costs suchas merging Stream Poland with its subsidiary Gimsat, while we finalize thebond financing and seek additional equity investment to grow the company as webelieve it has the potential to do."

     (1) Unless otherwise stated, all dollar figures announced in this press         release are expressed in Canadian dollars.

Nine Month Results

Revenue increased in the nine month period to $5,640,847 from $4,765,816,an 18% increase over the prior year period. The Company increased the numberof revenue generating units [RGUs] by 4.9% by aggressively marketing internetHFC services more than doubling the number of HFC RGU's. The company did alsofocused on upselling cable services to existing subscribers to more expensivepremium packages.

Additionally, during the period, the company increased the rates for allservices. This took place in February (Internet services) and March (Cable TVservices).

Operating expenses increased by 6.6% in the first nine months of 2007 asthe result of three factors: 1) increased subscribers 2) inflation 3)reclassification of expense items between 2006 and 2007 results.

    Adjusted EBITDA, calculated in the table below, increased to $280,355 from$66,640.  As a percentage of nine month revenues, adjusted EBITDA improved to5% from 1.5%.    Adjusted EBITDA                                              For the nine months ended                                       September 30, 2007   September 30, 2006                                                $                   $    Revenues                                5,640,847           4,765,816    Operating Expenses                      6,150,987           6,214,611    Loss from Operations                     (510,140)         (1,448,795)    Add back : Amortization                 1,162,989           1,420,992    Add back : Restructuring expenses               -             209,523    Add back : Disposal of assets loss     (gain)                                    22,741                   -    Add back : Foreign exchange loss     (gain)                                  (395,235)           (115,080)    Adjusted EBITDA                           280,355              66,640    Net Loss for the period decreased to $963,345 from $2,268,193.

Balance Sheet

At September 30, 2007, the company's working capital deficiency was$1,665,509, compared to working capital at December 31, 2006 of negative$1,787,498.

To finance operations and investments in property, plant and equipment,the company in the course of the first nine months of 2007 made a number ofprivate placements, raising a total of $1,191,028 through the issuance of10,200,000 shares and an equivalent amount of warrants, each worth one halfshare, for a total of 5,100,000 additional shares.

Developments During the Period

Network Integration

In 2007 Stream was focused mainly on the integration of its varioussystems into larger clusters in preparation of the roll-out of telephony anddigital television.

During the first nine months of 2007 two large Internet networks werecreated: about 35,000 homes passed [HP's] in Silesia and approximately 18,000HPs in Czestochowa. By the end of November both networks will be connected bya 300 megabyte/second pipe, and the whole system will be managed from oneoperational center in Katowice.

In various points of this system the Company has access to networks ownedby major Polish Internet operators such as Exatel, GTS Energis and ATM whichallows us to buy Internet access and telephony traffic access at verycompetitive prices, while improving the reliability of service. In February2007 with this technology access, the Company improved its Internet serviceoffering to most customers by doubling their nominal speeds while maintainingthe monthly rates. As a result, the number of Internet subscribers in ourhybrid fiber coaxial networks grew by 69% from 2,516 to 4,250. As of September30, 2007, the total number of Internet subscribers including local areanetwork subscribers exceeds 7,000.

Network Upgrades

In the process of modernization of the Czestochowa system, we have managedto eliminate several smaller headends and now have one headend supplyingtelevision signal to approximately 18,000 HP's. In 2008 the Company isplanning to invest in capital improvements for the whole 35,000 HP Silesiasystem from this one location.

The number of basic cable TV subscribers grew during the nine month periodending September 30, 2007 from 33, 111 to 34,252, and the total number ofcable customers grew from 58,673 to 59,668.

During the first 9 months of 2007 the Company constructed approximately1,300 HPs and modernized approximately 1,800 sites for 2-way transmission,enabling Internet and telephony service delivery. At the end of Septemberapproximately 48% of Stream's networks have been modernized to bebidirectional.

Telephony Services Rollout

In the first half of 2007 the company selected the IQCST platform for ourtelephony services. Platform tests were conducted during the summer, and salesbegan in September, initially in the Katowice area only. Today the service isavailable to customers in the Silesia region, by the end of November theCompany will begin to offer service in the Czestochowa region as well. TheCompany is also in the final stages of negotiating an agreement with TPSA, themain Polish telecom provider regarding the portability of numbers.

Acquisitions

In October the Company acquired the remaining 40% of shares in the localarea network [LAN] operator ASK in which it was previously a majorityshareholder with a 60% position. With 100% Stream ownership, the Company hasimproved its ability to manage the business, which is being assimilated intoStream to reduce costs.

SUBSEQUENT EVENTS:

In order to simplify Stream Poland's corporate structure while reducingmanagement overhead and unnecessary filing requirements, on November 14,Stream Communications Sp. z o.o. [Stream Poland] merged with its subsidiary,Gimsat. As of that date, Gimsat ceased to exist, eliminating the costs toStream of maintaining its corporate structure. No cost was incurred with themerger.

About Stream Communications

Stream is a broadband cable company and offers Cable TV, high-speedInternet and VoIP services in Poland. Stream is the 7th largest Cable TVoperator in Poland, focusing on the densely populated markets of SouthernPoland.

Safe Harbor for Forward-Looking Statement

Except for statements of historical fact, the information presented hereinconstitutes forward-looking statements within the meaning of the PrivateSecurities Litigation Reform Act of 1995. Such forward-looking statementsinvolve known and unknown risks, uncertainties and other factors which maycause the actual results, performance or achievements of the company to bematerially different from any future results, performance or achievementsexpressed or implied by such forward-looking statements. Such factors includegeneral economic and business conditions, the ability to acquire and developspecific projects, the ability to fund operations and changes in consumer andbusiness consumption habits and other factors over which Stream CommunicationsNetwork and Media Inc. has little or no control.

                        - Financial Tables to Follow -    Stream Communications Network & Media Inc.    Consolidated statement of operations and deficit    (Expressed in Canadian Dollars)                                               For the nine     For the nine                                               months ended     months ended                                              September 30,    September 30,                                                       2007             2006    Revenues                                      5,640,847        4,765,816    Operating expenses     Programming and system lease                 2,213,382        1,160,605     Amortization                                 1,162,989        1,420,992     Payroll and related                          1,595,400        1,988,964     Management and professional fees               511,459          177,434     Office expenses                                291,004          824,586     Travel and entertainment                       314,436          200,612     Occupancy costs                                223,056          211,412     Stock-based compensation                             -                -     Investor relations                              70,544           42,219     Advertising and marketing                      141,211           93,344                                                  6,523,481        6,120,168    Restructuring expenses                                -          209,523    Disposal of assets loss (gain)                   22,741                -    Foreign exchange loss (gain)                   (395,235)        (115,080)                                                   (372,494)          94,443    Loss from operations                           (510,140)      (1,448,795)    Financial and other items     Standby guarantee                                    -          798,289     Recovery of IPO expenses                             -                -     Financing (income) expense                     169,352         (106,627)     Interest (income) expense                      238,327          216,672     Other (income) expense                         (59,184)               -    Loss before income taxes                       (858,635)      (2,357,129)    Income taxes                                     87,200         (167,576)    Loss before non-controlling interest           (945,835)      (2,189,553)    Non controlling interest                         17,510           78,640    Net profit (loss) for the period               (963,345)      (2,268,193)    Deficit, beginning of year                  (46,886,979)     (42,401,086)    Deficit, end of year                        (47,850,324)     (44,669,279)    Basic and diluted loss per share                  (0.01)           (0.03)    Basic and diluted weighted average     number of common shares                     79,382,887       65,591,986    Stream Communications Network & Media Inc.    Consolidated balance sheet                                                September 30,    December 31,    (Expressed in Canadian Dollars)                      2007           2006    Assets    Current assets     Cash and cash equivalents                      754954.00      764544.00     Short-term investments                          27104.00       27921.00     Accounts receivable, net                       921078.00      271282.00     GST and VAT receivables                         40425.00      125946.00     Prepaid expenses and other assets              350211.00      125702.00     Future income tax assets                        23210.00       24837.00                                                   2116981.00     1340232.00    Property, plant and equipment, net            11307249.00    11741717.00    Cable TV subscriber base, Net                   982514.00     1281108.00    Other intangible assets, Net                     81562.00       78992.00    Non-current advances                            168262.00      180058.00                                                  14656568.00    14622107.00    Liabilities    Current liabilities     Accounts payable and accrued liabilities      2439259.00     2607720.00     Deferred revenue                               611946.00        2792.00     Future income tax liabilities                          -              -     Bank, leasing and other financing              475652.00      517218.00                                                   3526857.00     3127730.00    Bank, leasing and other financing              4872430.00     5239352.00                                                   8399287.00     8367082.00    Non-controlling interest                        839377.00      985922.00    Shareholders' equity    Common shares                                 44950937.00    43941186.00    Contributed surplus                            3110060.00     3110060.00    Private placement subscriptions                         -              -    Warrants                                       4006925.00     3825648.00    Cumulative translation account                 1200307.00     1279188.00    Accumulated deficit                          (47850324.00)  (46886979.00)                                                    5,417,904      5,269,103                                                   14,656,568     14,622,107    Stream Communications Network & Media Inc.    Consolidated statement of cash flows    (Expressed in Canadian Dollars)                                                 For the nine   For the nine                                                 months ended   months ended                                                September 30,  September 30,                                                         2007           2006    Operating Activities     Net loss for the period                      (963,345.00) (2,268,193.00)     Amortization                                1,162,989.00   1,420,992.00     Unrealized foreign exchange                  (481,832.00)             -     Unpaid Interest                               143,963.00              -     Non-controlling interest                       17,510.00      78,640.00                                                   (97,973.00)    639,376.00    Change in non-cash working capital     Accounts receivable                          (667,568.00)    (42,578.00)     Prepaid expenses and other assets            (155,139.00)    (17,171.00)     Accounts payable and accrued liabilities      (61,646.00)   (617,120.00)     Future Income Taxes                                 0.00       5,367.00     Deferred Revenue                              609,337.00       9,041.00                                                  (275,016.00)   (662,461.00)    Financing activities     Issuance of shares and warrants for cash    1,191,028.00   1,795,741.00     Proceeds from loans and leasing contracts    (121,108.00)    139,103.00     Repayment of loans and leasing contracts      575,882.00              -                                                 1,645,802.00   1,934,844.00    Investing activities     Purchase of Tangible and Intangible assets (1,288,413.00)   (881,095.00)     Sale of property, plant and equipment          30,856.00              -                                                (1,257,557.00)   (881,095.00)    Foreign Exchange                               (24,846.00)   (849,863.00)    Increase (decrease) in Cash and Cash     Equivalents                                    (9,590.00)    180,801.00    Cash and Cash equivalent, beginning of period     764,544        439,937    Cash and Cash equivalent, end of period           754,954        620,738