In this paper we examine the semantics, pragmatics and focus sensitivity of the particle stam in Hebrew. We make some novel observations concerning the distribution and interpretation of stam, and propose that they can be accounted for by assuming that stam is similar to only in being a focus sensitive exclusive in the intuitive sense of Beaver & Clark 2008, but that it has additional constraints, namely its compatibility with nonentailment scales of alternatives only and the 'low' position of the prejacent in the nonentailment scale. We also point out two independent problems in B&C's formal definition, which lead us to further modify the truth conditions of stam, thus capturing the asserted status of the prejacent, and the fact that the presupposed expectations are stronger than the prejacent. We suggest that whereas stam and its English correlate merely are indeed compatible with nonentailment scales only, only / rak strongly prefer entailment scales whenever they are available. Finally, we show that regards to Beaver & Clark's theory of association with focus, stam behaves similarly to only, i.e. as conventionalized, in most of the constructions testing degree of association with focus. Thus, the association with focus of stam seems to further support the claim that stam is indeed an exclusive. We examine a number of directions for further research, such as the necessary and sufficient parameters in the semantics of exclusives and the semantics and pragmatics of the stressed stam.