Press Release

Redback Networks Strengthens Technology Organization to Extend Vision of Next-Generation Broadband for Video, Voice and Data Seasoned Industry Veterans Scott Marshall and Arpit Joshipura Join Redback

SAN JOSE, Calif., October 5, 2004 – Redback Networks Inc. (NASDAQ: RBAK), a leading provider of next-generation broadband networking systems, today announced that two industry veterans have joined the company to help expand its technology organization and extend its leadership in furthering its next-generation broadband product family for intelligent delivery of video, voice and data services. Reporting to the chief executive officer, Scott Marshall joins in a newly expanded executive role as senior vice president of engineering and product management, responsible for overall research and development, engineering and product advancement. Arpit Joshipura will report to Marshall and will assume responsibility for product management and product marketing.

“Redback Networks has a long history of technical innovation and industry vision which has resulted in a powerful next-generation broadband portfolio,” said Kevin DeNuccio, president and chief executive officer, Redback Networks. “Now we have the opportunity to further define the future with technology that can extend our strategic infrastructure and user and content intelligence capabilities for personalized, high quality delivery of video, voice and data. To further advance our vision and expand our reach, I am pleased to welcome Scott Marshall and Arpit Joshipura to our technical organization.”

Scott Marshall brings nearly 30 years of networking and telecommunications experience in product and architecture strategy, engineering management, product development and executive leadership. He served as a group vice president of Cisco Systems with responsibility for seven key business units, including the individual units for DSL, wireless, Voice over IP, integrated access devices, multi-service switching, cable and dial remote access server and concentrators. Most recently he served as president and chief executive officer of optical start-up Ceyba Corporation. Marshall also was executive vice president of research and development (R&D) and product management of Newbridge Networks for six years, after working in several R&D and product management roles from the company’s inception. Previous to Newbridge, Marshall held a number of senior technical roles at Mitel and Nortel. He has also been on a number of Boards for innovative telecommunications and networking technology companies.

Arpit Joshipura served most recently as vice president of portfolio solutions marketing for Ciena Corporation. Before Ciena, he served as senior director of engineering for Caspian Networks and held several engineering and director positions at Nortel Networks.

In accordance with NASDAQ Marketplace Rule 4350, Redback granted inducement stock options for both Marshall and Joshipura. The options are classified as non-qualified stock options with an exercise price equal to fair market value on the date of grant and have a ten-year term. Marshall’s grant is for 325,000 shares and provides for 25 percent of his shares vesting upon signing of his offer letter, with the balance vesting in monthly installments over the next 36 months, and a 12 month acceleration of vesting if the company experiences a change of control. Joshipura’s grant is for 75,000 shares and provides for 25 percent vesting of his shares upon completion of one year of service, with the balance vesting in monthly installments over 36 months.

“Scott and Arpit join as leaders in what is already a robust and extraordinarily talented technical organization,” said DeNuccio. “Their insight and energy will help drive and focus new efforts to extend our technology for new opportunities.”

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. 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 Networks’ ability to effectively expand its leadership in furthering its next-generation broadband product family for intelligent delivery of video, voice and data services or the company’s ability to further define the future with technology that can extend its strategic infrastructure 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.