QuStream Corporation

QuStream Corporation

January 23, 2007 16:01 ET

QuStream Announces Organizational Changes and the Resignation of Its Chief Financial Officer

TORONTO, ONTARIO--(CCNMatthews - Jan. 23, 2007) - QuStream Corporation ("QuStream") (TSX VENTURE:QVC) announced today that it is making changes to its organizational structure in order to enhance and continue to build on its previous success in the introduction of new and innovative products and expand its market reach. Recent additions to strengthen the sales support and manufacturing operations have allowed us the opportunity to focus our best talent in areas where the contribution can be maximized.

Steve Miller, currently Vice President of US Operations of QuStream, will take on the responsibility of Vice President of Product Development for the group. In this newly created position, Steve will consolidate both the product marketing and engineering functions and provide a smooth flow from concept through to product release. As a consequence of this change, Virgil Lowe, currently Vice President and Chief Technology Officer, will no longer be an officer of QuStream, but will continue in his current role reporting directly to Steve Miller.

Robert McAlpine, currently Vice President of Business Development of QuStream, will focus on his primary operating role as Vice President of Sales and Marketing Communications.

"Product innovation and expanding our market reach are two key parts of our strategy for growth, and these changes will ensure continuation of our previous success." said Frederick L. Godard, Chairman, President and CEO. "Both Steve and Bob have distinguished themselves in their previous respective roles and as our Company matures, we are seizing the opportunity to bring sharper focus on key strategic drivers which will enable them to make an even bigger contribution in the future."

As a separate matter, Paul Haber, QuStream's CFO has decided to leave the Company to start his own consulting business, and will be departing QuStream in late March 2007. Paul is committed to completing the current year-end audit and ensuring a smooth transition before his departure.

"I would like to personally thank Paul for his ongoing commitment and contribution to QuStream and wish him all the best as he pursues his new initiative," said Frederick L. Godard, Chairman, President and CEO.

QuStream has initiated a search to identify a suitable replacement.

About QuStream

QuStream, through its wholly owned subsidiaries PESA and Fortel DTV™, is a global provider of integrated solutions to the creators and distributors of professional video content including the high-definition television and professional audio/video market segments. QuStream is headquartered in Toronto, Canada with offices in New York, Georgia, and Alabama. For more information, visit QuStream at www.qustream.com, www.pesa.com, and www.forteldtv.com.

All products mentioned herein are trademarked property of their respective owners.

Forward-Looking Statements

The statements made in this press release that are not historical facts contain forward-looking information that involves risk and uncertainties. All statements, other than statements of historical facts, which address QuStream's expectations, should be considered forward-looking statements. Such statements are based on management's exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "may", "will", "anticipate", "believe", "estimate", "expect", "intend" and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect our current view of future events and are subject to certain risks and uncertainties as contained in the Company's filings with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, our actual results could differ materially from those anticipated in these forward-looking statements. We undertake no obligation, and do not intend, to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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