RBAK Redback Networks

Redback Networks Inc. (NASDAQ:RBAK), a leading provider of next-generation broadband networking systems, today announced that its SmartEdge(R) Service Gateway received NetEvents 2006 European "Technology Leader" Award for "Carrier Product of the Year" among a field of major competitors at a prestigious award banquet, held in the Winter Olympic town of Garmisch, Germany as part of the NetEvents European Press & Analyst Summit 2006. More than 35 top European press and analysts were involved in judging the "Technology Leader Awards." In this particular category for "Carrier Product of the Year," the judges included industry analysts IDC and journalists from Telecom IDAG, Sweden and DataNews, Belgium. On presenting the award, Guy Kindermans of DataNews summed up the judges' decision: "The Redback SmartEdge Service Gateway makes life easier for carriers by combining multiple access and aggregation technologies in a single system, thus reducing complexity in the carrier network. At the same time, the SmartEdge products increase carrier flexibility by allowing carriers to launch new revenue-generating services quickly and help to lower carriers' operating expenses by consolidating functionality and increasing ease of use." "The SmartEdge Service Gateway integrates the key functions of Ethernet aggregation, edge routing and subscriber management, enabling carriers to deliver the full range of next-generation personalized IP-based services," says Marco Wanders, chief marketing officer at Redback Networks. "We are proud to be recognized for combining advanced IP services and broadband subscriber management with the highest degree of availability, scalability, and flexibility -- exactly the qualities we focused on when developing our SmartEdge Service Gateway." The 2006 award is the first in what will become an annual event open to all suppliers of networking or telecommunications products or services launched and delivered in the 12 months prior to 31st January each year. The award ceremonies will be incorporated into a NetEvents Press Summit -- regular 2-day events held across Europe and Asia designed to bring together industry leaders and international press. The award is a non-profit enterprise, with all proceeds going to charity. Proceeds this year will be shared between the American Cancer Society and the Prostate Project Foundation for Cancer Research. "Congratulations to Redback Networks on being our first Carrier Product award winner against strong competition," commented Mark Fox, NetEvents Founder. "With so much industry, analyst and press talent regularly gathering under one roof, it made sense to launch these awards and open the field to non-delegates so that some of the benefits of NetEvents Press Summits can now be enjoyed by a wider circle. We were especially delighted that the NetEvents awards and the charity auction helped raise over $32,000 for these Cancer Research charities." About NetEvents Since 1996, our team has organised one of the key communication channels between press, analysts and vendors in the Enterprise networking and telecommunications marketplace -- NetEvents. NetEvents brings together leading network / telecoms / computer industry vendors (senior executives of President / CEO / VP level); trade press; press and industry analysts from the 4 continents of the world. NetEvents provides vendors with an opportunity to meet the networking and communications press in an informal yet focused environment. It is based on a highly successful programme that has already been used by the world's leading technology companies to establish quality relationships with press and analysts throughout the world. About Redback Networks Redback Networks Inc., a leading provider of next-generation broadband networking equipment, enables carriers and service providers to build Smart Broadband Networks that are personalized, adaptive and efficient. The Smart Broadband Network provides advanced IP based subscriber services to consumers, businesses and wholesale customers. The company's carrier-class, scalable SmartEdge product family combines carrier class edge routing, advanced subscriber management and high density Ethernet aggregation functions. In conjunction with the NetOp(TM) Element and Policy Manager platforms the SmartEdge family provides a powerful and flexible infrastructure solution that enables delivery of next-generation Broadband IP 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, service providers and ISPs. For more information, visit Redback Networks at www.redback.com. 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 Networks' expectations, beliefs, intentions or strategies regarding the future and including, without limitation, statements regarding the expected benefits to carriers of our SmartEdge Service Gateway products. 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, including without limitation risks related to potential problems or defects in our SmartEdge Service Gateway products, interoperability problems or other factors that may interfere with our customers' realization of the expected benefits from those products. 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 Quarterly Report on Form 10-Q for the period ended September 30, 2005 and other recent reports on Form 10-K, Form 10-Q, Form 8-K, and amendments thereto, and the other reports filed from time to time with the SEC.