Exhibit 99.1

FOR IMMEDIATE RELEASE:

STREAM GLOBAL SERVICES ANNOUNCES

FINANCIAL RESULTS FOR SECOND QUARTER ENDED JUNE 30, 2012

BOSTON, MA – August 8, 2012 – Stream Global Services, Inc., a leading global business process outsource (BPO) service provider specializing in customer relationship management including technical support and sales programs for Fortune 1000 companies, today announced consolidated financial results for the three and six months ended June 30, 2012.

CEO Commentary

Kathryn Marinello, Chairman and Chief Executive Officer of Stream, said, “We are reporting an 8% year-over-year increase in Adjusted EBITDA for the six month period ended June 30, 2012. Our strategy of improving our core operating metrics has resulted in continued Adjusted EBITDA growth over 2011. We remain committed to our strategy to significantly invest in our business – our people and our infrastructure – while delivering returns for our investors.”

Second Quarter 2012 Financial Highlights

Adjusted EBITDA is a non-GAAP financial measure. For more information, please see the disclosure below under the heading “Non-GAAP Financial Information” and the reconciliation tables at the end of this press release.

Americas Region

Revenue generated from our Americas region, which includes the United States, Canada, the Philippines, India, Nicaragua, the Dominican Republic, El Salvador and China, was $147 million and $305 million for the three and six months ended June 30, 2012 compared to $146 million and $300 million for the same periods in 2011.

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Gross profit generated by the Americas region was $63 million and $133 million for the three and six months ended June 30, 2012 compared to $62 million and $132 million for the same periods in 2011. The gross margin percentage was 42.8% and 43.5% for the three and six months ended June 30, 2012 and was 42.5% and 43.9% for the same periods in 2011.

EMEA Region

Revenue generated from our EMEA region, which includes Europe, the Middle East and Africa, for the three and six months ended June 30, 2012 was $51 million and $108 million compared to $60 million and $118 million for the same periods in 2011.

Gross profit generated by the EMEA region was $16 million and $38 million for the three and six months ended June 30, 2012 compared to $20 million and $41 million for the same periods in 2011. The gross margin percentage was 32.0% and 34.9% for the three and six months ended June 30, 2012 and was 34.0% and 34.5% for the same periods in 2011. The decrease in gross profit is primarily due to the strengthening of the U.S. Dollar relative to the Euro and lower call volumes resulting from the unstable economic environment in the region.

Selling, General and Administrative Expense

Selling, general and administrative expenses, which includes non-agent service center costs, were $65 million or 33% of revenue during the three months ended June 30, 2012 compared to $67 million or 33% of revenue during the same period in 2011. As a result of the termination of the 2008 Stock Incentive Plan in April 2012, additional selling, general and administrative expense was incurred. Excluding this expense, selling, general and administrative expense as a percentage of revenue would have been lower for the three months ended June 30, 2012 than the same period in 2011.

Liquidity and Capital Resources

At June 30, 2012, cash and cash equivalents was $11 million, down from $25 million at December 31, 2011. The balance on the revolving line of credit was $18 million and $45 million at June 30, 2012 and December 31, 2011, respectively. At June 30, 2012, the company had in excess of $76 million of availability which could be drawn under its revolving line of credit.

Stream will hold a conference call for investors on August 14, 2012 at 5:30 PM EDT. Investors can participate by calling 1-800-230-1074 or 1-612-234-9960 (for callers outside the US).

Contact Information:

Heidi Ulin

Executive Assistant

Heidi.Ulin@stream.com

1-952-698-1057

About Stream Global Services:

Stream Global Services is a leading global business process outsource (BPO) service provider specializing in customer relationship management services including sales, customer care and technical support for Fortune 1000 companies. Stream is a trusted partner to some of the world’s leading technology, computing, telecommunications, retail, entertainment/media, and financial services companies. Stream’s service programs are delivered through a set of standardized best practices and sophisticated technologies by a highly skilled multilingual workforce of over 31,000 employees capable of supporting over 35 languages across approximately 50 locations in 22 countries. Stream strives to expand its global presence and service offerings to increase revenue, improve operational efficiencies and drive brand loyalty for its clients. To learn more about the company and its complete service offering, please visit www.stream.com.

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Non-GAAP Financial Information

This release contains non-GAAP financial measures. These non-GAAP financial measures, which are used as measures of Stream’s performance or liquidity, should be considered in addition to, not as a substitute for, measures of Stream’s financial performance or liquidity prepared in accordance with GAAP. Non-GAAP financial measures may be defined differently from time to time and may be defined differently than similar terms used by other companies, and accordingly, care should be exercised in understanding how Stream defines non-GAAP financial measures in this release.

Stream’s management uses the non-GAAP financial measures in the accompanying schedules to gain an understanding of Stream’s comparative operating performance (when comparing such results with previous periods) and future prospects and excludes certain items from its internal financial statements for purposes of its internal budgets and financial goals. These non-GAAP financial measures are used by Stream’s management in their financial and operating decision-making because management believes they reflect Stream’s ongoing business in a manner that allows meaningful period-to-period comparisons. Stream’s management believes that these non-GAAP financial measures provide useful information to investors and others in (a) understanding and evaluating Stream’s current operating performance and future prospects in the same manner as management does, if they so choose, and (b) in comparing in a consistent manner Stream’s current financial results with its past financial results.

All of the foregoing non-GAAP financial measures have limitations. Specifically, the non-GAAP financial measures that exclude certain items do not include all items of income and expense that affect Stream’s operations. Further, these non-GAAP financial measures are not prepared in accordance with GAAP, may not be comparable to non-GAAP financial measures used by other companies and do not reflect any benefit that such items may confer on Stream. Management compensates for these limitations by also considering Stream’s financial results in accordance with GAAP.

Safe Harbor

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including forward-looking statements concerning expectations regarding future operating performance and economic and market conditions. The forward looking statements made are neither promises nor guarantees, and are subject to risk and uncertainties that could cause our actual results to differ materially from those anticipated or indicated, including, without limitation, risks and uncertainties relating to our current operation in, as well as entry into, new markets; changes in general economic and business conditions; fluctuations in foreign currency rates; fluctuations in sales volume, timing and sales cycles; our ability to retain our employees in light of competition for agents; our ability to make payments required under our outstanding indebtedness; delays in obtaining new clients or sales from existing clients; delays or interruptions of service as a result of power loss, fire, natural disasters, security breaches, civil unrest or political upheaval, and other similar events; litigation; intense competition in the marketplace from competitors; future acquisitions, joint ventures or other strategic investments; and our ability to obtain necessary financing in the future plus other risks detailed in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), including those discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011.

Stream does not intend, and disclaims any obligation, to update any forward-looking information contained in this release, even if its estimates change.

The required reconciliations and other disclosures for all non-GAAP measures used by the Company are set forth in a schedule attached to this press release and in the Current Report on Form 8-K furnished to the SEC on the date hereof.

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STREAM GLOBAL SERVICES, INC.

Consolidated Condensed Statements of Operations

(Unaudited)

(In thousands)

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STREAM GLOBAL SERVICES, INC.

Consolidated Condensed Balance Sheets

(In thousands)

(Unaudited)

5

STREAM GLOBAL SERVICES, INC.

Consolidated Condensed Statements of Cash Flows

(In thousands)

(Unaudited)

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STREAM GLOBAL SERVICES, INC.

Reconciliation of GAAP to Non-GAAP Income from Operations Excluding Severance, restructuring and other charges, net

(Unaudited)

(In thousands)

Reconciliation of GAAP to Non-GAAP Adjusted EBITDA

(Unaudited)

(In thousands)

Reconciliation of GAAP to Non-GAAP Free Cash Flow

(Unaudited)

(In thousands)

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