QVC Qustream Corporation

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES.


QuStream Corporation ("QuStream" or the "Company") (TSX VENTURE:QVC) announces
that the Company has closed a non-brokered private placement of subordinated
secured debentures in a number of tranches for a total of CAD $2,427,083, of
which $2,000,000 was used to discharge the CAD $2,000,000 convertible debentures
that matured on March 6, 2010. The balance of the debentures were purchased by
other purchasers including certain insiders of the Company. The debentures bear
an interest rate of 10% and are repayable two years from the respective date of
issue. QuStream intends to use the proceeds of the debt financing for general
working capital purposes. The Company has issued a total of 2,427,083 common
share purchase warrants to the holders of the debentures. Each warrant entitles
the holder to purchase one common share of the Company at a price of CAD $0.10
per share for a period of one year from the respective date of issue and at a
price of CAD $0.25 per share for a period of one year thereafter. The securities
issued or issuable under the private placement are subject to a four month hold
period from the respective date of issue.


This news release does not constitute an offer to sell or a solicitation of an
offer to buy common shares. The common shares have not been and will not be
registered under the United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be offered or sold
within the United States or to U.S. persons (as defined in Rule 902 of
Regulation S) unless registered under the U.S. Securities Act and applicable
state securities laws or an exemption from such registration is available.


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, which in
relation to this press release include, but are not limited to, receipt of
regulatory approvals, and any other timing, development, operational, financial,
economic, legal, regulatory and/or political factors that may influence future
events or conditions. 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. Although we believe that our expectations are based on reasonable
assumptions, we can give no assurance that our expectations will materialize. We
undertake no obligation, and do not intend, other than as required by law, 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.

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