Director Shareholding

RNS Number:0441R
Stream Group PLC
17 October 2003


                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1. Name of company

Stream Group plc

2. Name of director

Michael Spencer

3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18 or in respect of a non-beneficial
interest

As 2

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them (if notified)

As 2

5. Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)


6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary

Exercise of options

7. Number of shares / amount of stock acquired

1,232,764

8. Percentage of issued class

2.11%

9. Number of shares/amount of stock disposed


10. Percentage of issued class


11. Class of security

Ordinary shares

12. Price per share

5.6p

13. Date of transaction

17 October 2003

14. Date company informed

17 October 2003

15. Total holding following this notification

3,895,328

16. Total percentage holding of issued class following this notification

6.67%

If a director has been granted options by the company please complete the
following boxes.

17. Date of grant

17 October 2003

18. Period during which or date on which exercisable

17 October 2006

19. Total amount paid (if any) for grant of the option

Nil

20. Description of shares or debentures involved: class, number

500,000 ordinary shares

21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at time of exercise

16.5p per share

22. Total number of shares or debentures over which options held following this
notification

500,000

23. Any additional information


24. Name of contact and telephone number for queries

Paul Tuson 020 7725 0308

25. Name and signature of authorised company official responsible for making
this notification

Paul Tuson

Date of Notification

17 October 2003

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