H.264 SVC(Scalable Video Coding) provides the advantages of low disk storage requirement and high scalability. However, a streaming server or a user terminal has to extract a bit stream from SVC file. This paper proposes a bit stream extraction method which can get the maximum PSNR value while date bit rate does not exceed the available network bandwidth. To do this, this paper obtains the information about extraction points which can get the maximum PSNR value offline and decides the spatial/temporal resolution of a bit stream at run-time. This resolution information along with available network bandwidth is used as the parameters to a bit stream extractor. Through experiment with JSVM reference software, we proved that proposed bit stream extraction method can get a higher PSNR value.