Press Release

Hanaro Telecom Selects Redback SmartEdge Router System For Advanced IP Network Next-Generation Router Selected for Critical Edge Routing Applications

SAN JOSE, Calif., December 6, 2004 – Redback Networks Inc. (NASDAQ: RBAK), a leading provider of next-generation broadband networking systems, today announced that Hanaro Telecom, Korea’s second largest DSL provider, has selected Redback’s SmartEdge Router systems for critical edge routing in its Hybrid Fiber Coaxial (HFC) network. The systems will integrate cable television and fiber optic cable traffic to Hanaro Telecom’s backbone and provide IP services.

“The Redback next generation SmartEdge Router platform enables us to further leverage our networks. We are very impressed with the SmartEdge performance, scalability and reliability, and, as a result, have selected Redback over traditional router vendors,” said Mr. Lee YOUNG-IL, senior manager, network planning department of Hanaro Telecom. “As we advance our vision and technology, we can better serve our market and prepare for future opportunities and challenges.”

“We are pleased to support Hanaro Telecom and provide a key, strategic platform for the company’s networking and IP services,” said Kevin DeNuccio, chief executive officer and president of Redback Networks. “Hanaro Telecom, as one of the largest broadband providers in the world, has put a high value on technology that can deliver strategic results.”

Hanaro Telecom currently utilizes Redback SMS systems for managing its broadband network and offering per-subscriber services. With this announcement, Hanaro Telecom has begun using Redback SmartEdge 400 systems for advanced integration and management of next-generation IP network.

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.

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REDBACK and SmartEdge are trademarks registered at the U.S. Patent and Trademark Office and in other countries. NetOp is a trademark 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 the ability of the SmartEdge systems to integrate cable television and fiber optic traffic to Hanaro Telecom’s network and provide IP services and whether Hanaro Telecom can deliver strategic results. 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 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.