Press Release

Thai Telephone and Telecommunication Selects Redback Platforms for New Nationwide IP Network in Thailand Deployments of Redback’s SmartEdge Platform

SAN JOSE, Calif., May 24, 2004 – Redback Networks Inc. (NASDAQ: RBAK), a leading provider of next-generation broadband networking systems, today announced that Thai Telephone & Telecommunication (TT&T Public Company Limited) has selected Redback's SmartEdge® platform to build a nationwide Smart IP Network that provides a foundation for current service requirements and positions TT&T for delivering future next-generation broadband services. Initially, the new nationwide network will provide MPLS VPN and ADSL broadband services to businesses.

“As TT&T expands and builds a powerful, new service provider network to serve the present and future broadband needs of Thailand, it is imperative to have an infrastructure that will grow with us. The Redback SmartEdge systems will enable rapid expansion, introduction of new value-added services, and high reliability across multiple access methods,” said Sukhum Chaolilitkul, senior vice president and head of network management group, TT&T. “We believe that with a "Smart Broadband Network” infrastructure based on the SmartEdge system from Redback will enable us to best meet the demands and opportunities of a growing and changing marketplace.”

“We are pleased to help TT&T achieve its vision for a complete next-generation network that will serve current and future needs of businesses and consumers,” said Shailesh Shukla, vice president of marketing and business development for Redback Networks. “The infrastructure to build a “Smart Broadband Network” from Redback gives TT&T the ability to keep operational costs low while providing strategic opportunities for incremental revenue growth through value-added services and meeting customer needs through high quality, reliability and flexibility.”

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 platforms 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. 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 Thai Telephone and Telegraph Public Company Limited’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, specifically the most recent report on Form 10-K, Form 10-Q, Forms S-3 and the other reports filed from time to time with the Securities and Exchange Commission.