Press Release

Redback to Open Broadband Services Development Center Facility to Enable Service Providers to Create and Deploy Value-Added Subscriber Services for New Level of Consumer Experience

SAN JOSE, Calif., February 2, 2004 - Redback Networks Inc. (NASDAQ: RBAK), a leader in intelligent broadband infrastructure, today announced that it is creating the Broadband Services Development Center at its corporate headquarters in San Jose, Calif. The facility will enable service providers and content providers to create, evaluate and deploy value-added subscriber services designed to bring consumers a new level of simplicity, personalization, portability and control.

Redback's Broadband Services Development Center will help create pre-tested, pre-packaged services and provide a test bed for customers and partners to evaluate and customize new as well as the pre-packaged services designed to utilize its purpose-built SmartEdge® Service Gateway and NetOp™ Policy Manager platforms.

"Redback Networks is empowering a new generation of Consumer IP services designed to give individuals simple, personalized control over network-delivered communications, entertainment, commerce and services," said Kevin DeNuccio, chief executive officer and president of Redback Networks. "The formation of the Broadband Services Development Center enables service providers to take full advantage of the power of the Redback platform to create and deploy value-added services that can transform a consumer's Internet experience."

Some of the pre-packaged services Redback has developed or is developing include Application Specific Bandwidth (ASB), turbo button, service guarantees for online gaming, dependable voice services, seamless subscriber portability across home and wireless networks and more. New Consumer IP services can give consumers the choice in what, when, where and how content is delivered to them, including the quality level and delivery time associated with it. Consumers could choose, for example, to receive full-screen DVD-quality streaming video rather than low quality video in a two-inch window on a monitor. Similarly, consumers could choose to download a movie in time of several minutes rather than several hours or choose to have higher quality streaming content.

Already Redback has worked jointly with IBM to create the Rapid IP Services (RISES) web portal facility to build and test new broadband services with self-subscription capabilities for the end-user. Some of the capabilities from RISES will be incorporated into the new Broadband Services Development Center.

By helping to develop applications that take advantage of its carrier-class, consumer-scale SmartEdge Router and Service Gateway platforms for integrated subscriber management/edge routing/service deployment, Redback can deliver new and unique capabilities to enable innovative, valuable broadband services.

About Redback Networks

Redback Networks Inc. is a leader in intelligent broadband infrastructure that enables carriers and service providers to build third-generation broadband networks that can profitably deliver simplified, personalized, portable subscriber services to consumers (Consumer IP) and businesses (Business IP). The company's carrier-class, consumer-scale SmartEdge® Router and Service Gateway platforms for subscriber management systems and edge routing and the in conjunction with the NetOp™ element and policy Management 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.

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REDBACK and SmartEdge are trademarks registered at the U.S. Patent and Trademark Office and in other countries. SMS and NetOp are trademarks or service marks 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 Networks expectations, beliefs, intentions or strategies regarding the future and including, without limitation, statements regarding the nature or benefit s of (i) developing the Broadband Services Development Center, (ii) applications that will deliver innovative, valuable broadband services, and (iii) Redback Network?s products generally. 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 Networks business are set forth in the documents filed by Redback Networks with the Securities and Exchange Commission, specifically the most recent report on Form 10-K, Form 10-Q, Forms S-4 and the other reports filed from time to time with the Securities and Exchange Commission.