Press Release

Turk Telekom Expands Next Generation Broadband Network With Redback Networks in Second Phase Development Redback SmartEdge Service Gateway Enables Smart Broadband Networks and Delivery Platform for New Services

SAN JOSE, Calif., August 23, 2004 –Redback Networks Inc. (NASDAQ: RBAK), a leading provider of next-generation broadband networking systems, today announced that Turk Telekom, Turkey’s incumbent PTT network provider has selected Redback’s SmartEdge® Service Gateway systems to use throughout its infrastructure for the second phase of its development of a next-generation nationwide broadband network. Turk Telekom selected the next-generation Redback platform for the first phase of the development last year.

“We have the opportunity to build one of the world’s most advanced, next-generation broadband networks since we can develop it from the ground up,” said Yucel Bagriacik, director of Informatic Networks, Turk Telekom. “We have selected Redback’s SmartEdge Service Gateway as the foundation to create a nationwide network for broadband connectivity and services in a quickly growing market.”

“We are very pleased to be selected again by Turk Telekom now for the second stage of building their world-class broadband network and see this as a strong endorsement of our next-generation technology,” said Marco Wanders, vice president of operations for Europe, Middle East and Africa, Redback Networks. “With our next-generation SmartEdge Service Gateway systems, Turk Telekom can effectively build Smart Broadband Networks with broadband DSL connectivity and per-subscriber services for today and later incorporate a wide variety of new, more advanced services.”

The Redback SmartEdge Service Gateway platform integrates the B-RAS strength of Redback's industry-leading SMS™ family of subscriber management products with the SmartEdge platform's purpose-built hardware and software to provide subscriber management with dynamic policy enforcement.

About Redback Networks Redback Networks Inc., a leading provider of next-generation broadband networking equipment, enables carriers and service providers to build third-generation Smart Broadband Networks that can deliver simplified, personalized, portable subscriber services to consumers and businesses. The company's carrier-class, consumer-scale SmartEdge Router and Service Gateway platforms for Consumer IP combine subscriber management systems and edge routing and, in conjunction with the NetOp™ Element and Policy Manager platform, provide a powerful, flexible infrastructure for managing both subscribers and value-added services.

Founded in 1996 and headquartered in San Jose, Calif., with sales and technical support centers located worldwide, Redback Networks maintains a growing and global customer base of more than 500 carriers and service providers, including major local exchange carriers (LECs), inter-exchange carriers (IXCs), PTTs and service providers. For more information, visit Redback Networks at www.redback.com.

# # #

REDBACK and SmartEdge are trademarks registered at the U.S. Patent and Trademark Office and in other countries. SMS and NetOp are trademarks of Redback Networks Inc. All other products or services mentioned are the trademark, service marks, registered trademarks or registered service marks of their respective owners. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, including statements regarding Redback Network’s expectations, beliefs, intentions or strategies regarding the future and including, without limitation, statements regarding Turk Telekom’s ability to expand and enhance its business and consumer broadband and IP services offerings and the actual performance, scalability, flexibility and intelligence of the Redback platform. All forward-looking statements included in this document are based upon information available to Redback Networks as of the date hereof, and Redback Networks assumes no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. These risks and other risks relating to Redback Network’s business are set forth in the documents filed by Redback Networks with the Securities and Exchange Commission (SEC), specifically the most recent report on Form 10-K Form, Form 10-Q, Form 8-K, Redback’s Registration Statement on Form S-3 (File No. 333-114352), and amendments thereto, and the other reports filed from time to time with the SEC.