Press Release

Redback Networks to Present at the CIBC Best Ideas Small and Mid Cap Conference

SAN JOSE, Calif., November 23, 2005– Redback Networks Inc. (NASDAQ: RBAK), a leading provider of next-generation broadband networking systems, today announced Thomas L. Cronan III, senior vice president of finance and administration and chief financial officer, will be presenting at the CIBC Best Ideas Small & Mid Cap Conference being held at the Millennium Broadway Hotel in New York City on Tuesday November 29, 2005 at 3:00 P.M. E.S.T.

The presentation will be webcast simultaneously during the conference and archived on the CIBC World Markets website for 90 days. To access the webcast of this presentation, go to:

http://conferences.cibcwm.com/bestideas05/

Webcast source code: fall05

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.