BOSTON, MA – May 18, 2009 – Stream Global Services, Inc., (AMEX:OOO), today announced that it has signed agreements with two warrant holders in privately negotiated transactions to purchase 5.3 million of its publicly traded warrants for $.20 per warrant. Stream has approximately 25,950,000 publicly held warrants that remain outstanding after this transaction and are exchangeable into its common shares at a strike price of $6.00 in cash delivered by the holder of each warrant to Stream. These public warrants are not eligible for cashless exercise treatment. The remaining publicly held warrants expire on October 17, 2011, and if not exercised before that time, will be worthless thereafter. Stream’s publicly held warrants trade under the symbol OOO.WS on AMEX.

For more information contact:
Stephen Farrell
Executive Vice President & Chief Financial Officer
Stream Global Services, Inc.
781-304-1800
stephen.farrell@stream.com

About Stream Global Services, Inc.
Stream Global Services, Inc. is a leading provider of integrated business process outsourcing services such as technical support, customer retention, customer sales, customer care and other professional services for Fortune 1000 clients in the technology, software, computing, consumer electronics, media and communications sectors. Stream has more than 17,000 employees across 35 solution centers in 19 countries.