Stream Files Notice of Late Filing with the U.S. Securities and Exchange Commission

Stream Files Notice of Late Filing with the U.S. Securities and Exchange Commission

WARSAW, Poland, June 30 /PRNewswire-FirstCall/ -- Stream Communications Network & Media Inc. (Pink Sheets: SCNWF & FSE: TPJ), the broadband cable company offering Cable TV, high-speed Internet and VoIP services in Poland, today announced that it has filed a Late Notification Notice with the U.S. Securities and Exchange Commission (SEC) regarding its audited 2007 financial results.

The anticipated late filing of Form 20-F is due to the inability of management to complete their review of the Company's financial statements for the year ended December 31, 2007 and their evaluation of the Company's internal control over financial reporting by June 30, 2008. The Company is cooperating fully to ensure that the review and accompanying evaluation are completed as quickly as possible.

About Stream Communications

Stream Communications is a broadband cable company that offers cable TV, high-speed Internet and VoIP services in Poland. Stream Communications, together with Penta Investments, controls the 7th largest cable operator in Poland, Stream Communications Sp z o.o., focusing on the densely populated markets of Southern Poland. Via its wholly owned subsidiary Stream Investments Sp z o.o., Stream Communications is developing greenfield projects in the cable sector in Poland.

Safe Harbor for Forward-Looking Statements

Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Stream Communications Network and Media Inc. has little or no control.

First Call Analyst:
FCMN Contact:

Source: Stream Communications Network & Media Inc.

CONTACT: Iwona Kozak, Director, Stream Communications,
+48-22-842-7666, Iwona.Kozak@streamcn.com; or Maura Gedid of Breakstone Group,
+1-646-452-2335, mgedid@breakstone-group.com, for Stream Communications
Network & Media Inc.

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Profile: International Entertainment