Stream Energy Rejects Basis of Class Action Lawsuit

DALLAS, July 1 /PRNewswire/ -- Stream Energy (www.streamenergy.net) has responded forcefully to a class action lawsuit filed June 30 in the U.S. Court of the Southern District. Stream Energy Chairman Rob Snyder stated that Stream Energy merits the clear standing and repute it has earned as a retail energy provider within Texas' deregulated retail electric market.

Official Statement from Stream Energy:

Though it is Stream Energy's policy not to comment on matters of litigation until they have had an opportunity to work themselves out in the court system, we nonetheless feel that the litigation in question is groundless and without merit. We are extremely confident in the legal soundness of Stream Energy and Ignite, and we plan to aggressively defend our operations and our good name.

We point to our involvement with the Direct Selling Association (DSA) as a member in good standing as just one proof of the soundness of our network marketing model. Membership in the DSA requires a year-long review process by which a member company is examined for compliance and for adherence to the DSA's Code of Ethics (see www.dsa.org for more detail). Moreover, the further reality that Stream Energy (Ignite's parent company) serves as a Provider of Last Resort as requested by the Public Utilities Commission of Texas also attests as to Stream Energy's standing and repute within the state's deregulated retail electricity market. Simply put, the direct selling models used by firms such as Stream Energy have been repeatedly found to be unquestionably legal.

Rob Snyder

Chairman

Stream Energy

Stream Energy

Since being licensed as a Retail Electric Provider by the Public Utilities Commission in early 2005, privately held Stream Energy has grown rapidly into one of the largest participants in the Texas deregulated electricity market, with hundreds of thousands of residential customers. In 2008, Stream Energy expanded its operations into Georgia where the company provides natural gas for customers in Atlanta and a wide variety of cities throughout the state. Stream Energy's success is attributable to a full-service approach to customer relationships, supported by a customer-advantageous pricing model and the company's network marketing subsidiary, Ignite. Additional information is available on the Stream Energy website at www.streamenergy.net.

SOURCE Stream Energy