RBAK Redback Networks

Redback Networks Inc. (Nasdaq:RBAK), a leading provider of broadband networking systems, today announced that it intends to offer 3,500,000 shares of its common stock in a public offering. Certain of Redback Networks' stockholders also intend to offer an additional 4,698,000 shares of common stock in the offering. A shelf registration statement relating to the shares of common stock being offered became effective upon filing today with the Securities and Exchange Commission. Redback Networks and the selling stockholders expect to grant the underwriters in the offering an option to purchase, at the public offering price, up to 1,229,700 additional shares of common stock, of which 614,850 will come from Redback Networks and 614,850 will come from the selling stockholders. Goldman, Sachs & Co. and UBS Investment Bank will act as the joint bookrunning managers for the offering. Cowen and Company, Thomas Weisel Partners LLC and Merriman Curhan Ford & Co. will act as co-managers for the offering. The public offering of Redback Networks' common stock will be made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained, when available, by contacting Goldman, Sachs & Co. at 85 Broad Street, New York, New York 10004, Attention: Prospectus Department, telephone (212) 902-1000 or UBS Securities LLC at 299 Park Avenue, New York, New York 10171, Attention: Prospectus Department, telephone (212) 821-3000. This communication shall not constitute an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. 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(R) 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.