Press Release

Redback Unveils Instant Bandwidth Acceleration At Supercomm Conference New “Dynamic Bandwidth Selection” Boosts Bandwidth without Interrupting Sessions or Applications for Streaming Media and Downloads

CHICAGO, Illinois, Supercomm Conference, June 22, 2004 – Redback Networks Inc. (NASDAQ: RBAK), a leading provider of next-generation broadband networking systems, today announced that it is demonstrating Dynamic Bandwidth Selection, a new instant broadband acceleration capability, at the Supercomm conference in Chicago June 22-24, 2004. The capability enables broadband carriers and service providers to offer consumers services that dynamically increase bandwidth for a designated period of time without requiring them to leave the application or end the session. The extra bandwidth can be requested "on the fly" and implemented in real-time during a download, online game, videoconference or streaming session that has already begun.

“Our new Dynamic Bandwidth Selection capability provides a simple, yet powerful feature for consumers to enhance their online video viewing or drastically reduce their downloading time,” said Shailesh Shukla, vice president of marketing and business development, Redback Networks. “At the same time, the capability gives service providers a new source of incremental revenue. Using broadband to improve a consumer’s experience and create new revenue for providers leads to a new world of high quality, user-controlled broadband experience we call Consumer IP.”

The Redback Dynamic Bandwidth Selection capability is fully automated in the OSS of the service provider so the implementation of a “transaction” by the end user requires no operational involvement by the carrier. This results in a service infrastructure that is cost effective and can scale as user demand increases. Consumers can subscriber to a monthly service level that meets their normal bandwidth needs and then purchase additional bandwidth for applications requiring more speed and throughput, paying an incremental fee to the carrier for this increased utility.

The Dynamic Bandwidth Selection capability can be offered as a subscriber-initiated real-time feature, as demonstrated at Supercomm, or provided on the basis of application or source. For instance, depending on a subscriber’s service, bandwidth could be boosted automatically based on an activity, such as when a user initiates the viewing of a video or downloads a file. Similarly, bandwidth could be increased automatically when interacting with a certain website, such as the premium membership area of a news portal.

The Dynamic Bandwidth Selection capability can be implemented with the latest release of software for the SmartEdge® Service Gateway platform, Redback’s next-generation product family and building block for Smart Broadband Networks. The real-time feature can be managed through the SmartEdge management system or the company’s NetOp™ Policy Manager, the software system for per-subscriber policy management and service creation.

During the Supercomm conference, Redback will also provide live demonstrations of video over DSL and its recently introduced Session Level Reliability capability, a breakthrough technology designed to provide uninterrupted broadband Internet sessions for voice, video, online multi-player games and other applications. Redback is located in booth 26429.

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 profitably 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 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.

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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 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 Liaoning Communications Corporation’s ability to expand and enhance its broadband and IP services offering and the actual results of scalability, reliability, flexibility, the ability to achieve lower operational costs and meet new and future needs. 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, 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.