Press Release

ECI Telecom and Redback Networks Sign Agreement Partners to Drive Enhanced Triple Play Service Delivery over Broadband and IP Networks to Entirely New Level

PETACH TIKVA, Israel and SAN JOSE, Calif., November 9, 2004 – ECI Telecom (NASDAQ: ECIL) and Redback Networks Inc. (NASDAQ: RBAK) today announced an agreement signed by both companies intended to deliver enhanced triple play (voice, video and data) services over broadband and IP networks.

This agreement reflects the companies’ mutual vision to enable a comprehensive end-to-end solution for the rapidly evolving migration towards next generation broadband architectures and network convergence.

Both ECI and Redback bring to the relationship a proven track record of innovation and leadership in the broadband market, with widespread deployments at leading carriers worldwide. Under the agreement, the companies will offer a comprehensive IP solution that includes ECI’s Multi Service Access Gateway (MSAG) solutions together with Redback’s multi service edge and broadband portfolio. ECI and Redback will initially target joint customers and will work together to address customer needs and requirements for the move to triple play and other advanced services.

The combined offering can enable carriers to increase new revenues by transforming broadband and IP networks into intelligent, service delivery mechanisms in an efficient and flexible manner. By doing so, carriers will be able to competitively offer services such as advanced data, efficient video services, reliable voice over IP and superior gaming.

“The partnership with Redback is a meaningful step in our strategic roadmap to become a leader of IP-centric service delivery platforms and our goal to be a major provider of solutions for next generation networks,” said Doron Inbar, ECI’s president and chief executive officer. “Redback’s solution is complementary to ours, and we look forward to strengthening our position in the market with this comprehensive solution”.

Cooperation between the two companies will begin immediately to serve the escalating demands for IP-based next generation services from carriers around the world. The alliance will be implemented in phases, beginning with joint marketing and distribution.

“This strategic relationship with ECI Telecom enables us to drive broadband and IP infrastructure to an entirely new level, resulting in the ability to offer an end-to-end portfolio and framework for Enhanced Triple Play Services,” said Kevin DeNuccio, president and chief executive officer, Redback Networks. “Combining our resources and vision with ECI will fulfill the promise of Smart Broadband Networks.”

About ECI Telecom ECI provides advanced, telecommunications solutions to leading carriers and service providers, worldwide. By translating a deep understanding of its customers' needs into innovative, technologically excellent solutions, ECI enables its customers to increase the value of their networks and reduce operating expenses. ECI's platforms enable carriers and service providers to introduce new revenue-generating services easily. ECI has pioneered key technologies including voice compression, SONET/SDH, DSL, and has enabled the establishment of global networks. ECI specializes in metro optical networks, broadband access, bandwidth management and carrier-class VoIP solutions.

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 its relationship with ECI Telecom and its ability to deliver enhanced Triple Play, realize a joint distribution of solutions for end-to-end service delivery to an entirely new level, increase new revenues for carriers and offer a comprehensive IP solution to customers. 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, 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.