Press Release

Redback Networks Schedules Webcast and Conference Call for Q4 Results on January 21

SAN JOSE, Calif., January 13, 2004 - Redback Networks Inc. (NASDAQ: RBAKD), will announce financial results of its fourth quarter of 2003 on January 21, 2004. In a conference call and live webcast, executive management will discuss the fourth quarter results as well as business conditions.

The details of the call and webcast are as follows:

Date: Wednesday, January 21, 2004
Time: 1:45 p.m. PT/2:45 MT/3:45 CT/4:45 ET
Dial-in phone number: 1-847-619-6534 (domestic and international)
Webcast: You can also participate in the conference call via your computer by registering your name on Redback's Investor Center at: http://www.redback.com

Telephone Replay available one hour after conclusion of call through January 28, 2004.
Dial-in: 1-630-652-3041
Passcode: 8246778

To ensure that the conference begins in a timely manner, please dial in 10-15 minutes prior to the scheduled start time.

About Redback Networks Inc.
Redback Networks Inc. enables carriers and service providers to build profitable next-generation broadband networks. The company's User Intelligent Networks™ product portfolio includes the industry-leading SMS™ family of subscriber management systems, and the SmartEdge® Router and Service Gateway platforms, as well as a comprehensive User-to-Network operating system software, and a set of network provisioning and management software.

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 User Intelligent Networks 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.