RBAK Redback Networks

Redback Networks Inc. (Nasdaq:RBAK), a leading provider of multi-service edge routers for next generation IP networks, today announced a joint development agreement with the Electronics and Telecommunications Research Institute (ETRI), a research agency funded by government and private companies in Korea to advance information and communication technologies. ETRI�s technology will be integrated into certain Redback routing products. ETRI�s technology will be used to extend Redback�s core broadband technologies to meet the needs of communications carriers and government-run networks in Korea and Greater Asia. Future collaboration also is planned around mobility services. Mobility services are attractive to Redback because the addressable edge router market for mobility services is expected to exceed $1.2 billion worldwide by 2008, according to two market authorities, the Yankee Group and Infonetics Research. �Redback has a solid history of collaboration and service innovation with Korean carriers, such as Korea Telecom (KT), and our equipment has been a critical component of the deployment of nationwide multi-service broadband networks,� said Simon Williams, vice president of sales and operations for the Asia Pacific region at Redback Networks. �We believe that working with ETRI will help tailor our SmartEdge family of products to the Korean market and expand our broadband mobility opportunities in Korea.� ETRI has a long and distinguished track record of world-class engineering research and partnering with world-class technology companies. For example, ETRI co-developed CDMA cell-phone technology with Qualcomm, the U.S. chip maker, for advanced cell-phone chips and handsets used in Korea and greater Asia. The initial focus of the Redback-ETRI technology sharing agreement will be on the BSP-10. The BSP-10 is a version of the SmartEdge 100, introduced by Redback in 2006. The BSP-10 is manufactured and sold by Kisan Telecom of Korea, a deal Redback announced in October 2006. The BSP-10 will be optimized for the specific requirements of the Korean market. Redback believes ETRI�s software and hardware technologies will help drive additional opportunities in the carrier and government sectors in Korea. Redback plans to incorporate technology from ETRI to help accelerate deployment of integrated wired and wireless broadband infrastructures as well as advanced voice and video services. In Korea, Redback already helps deliver data, voice and video services to more than five million users of Korea Telecom and other carriers. Twelve of the top 20 telephone carriers worldwide deploy Redback's SmartEdge family of multi-service edge routers to deliver multiple broadband services to tens of millions of business and residential customers worldwide. These customers include British Telecom, Belgacom, BellSouth, China Telecom, China Netcom, Chunghwa Telecom (Taiwan), eAccess (Japan), France Telecom, Korea Telecom and Turk Telecom, among others. About Redback Networks Redback Networks Inc. manages 50 million broadband connections for 15 of the top 20 telephone carriers worldwide. Redback�s multi-service routing platform delivers next generation broadband services such as VoIP, IPTV, On-Demand Video and on-line gaming. Redback Networks has more than 500 carrier customers worldwide and is based in San Jose, CA. In 2006, Redback marks its 10 year anniversary, celebrating ten years of broadband innovation. 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. Note Regarding Forward Looking Statements 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. These statements include but are not limited to statements regarding our expectations, beliefs, intentions or strategies regarding the future and including, without limitation, statements regarding the ability of Redback and ETRI to jointly develop the referenced products; the ability of the jointly developed products to meet the requirements of customers in Korea; projections that the addressable edge router market for mobility services is expected to exceed $1.2 billion worldwide by 2008; expected deployment of broadband services in Korea and the expected growth rate of broadband upgrades in that region, expectations regarding Redback�s growing customer base in Korea; and the ability of Redback�s products to help carriers deliver mobile broadband and voice, video and data services. All forward-looking statements included in this document are based upon information available to us as of the date hereof, and we assume 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 limitations potential difficulties in joint development efforts of products for the Korean market; industry tends that may impact the expected addressable market for mobility services; factors impacting our customers� buying patterns such as budget cycles or the timing of deployment of triple play networks; and other risks and uncertainties relating to our business as 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 for the fiscal year ended December 31, 2005, Form 10-Q for the quarter ended September 30, 2006, Forms 8-K, and amendments thereto, and the other reports filed from time to time with the SEC. Redback Networks Inc. (Nasdaq:RBAK), a leading provider of multi-service edge routers for next generation IP networks, today announced a joint development agreement with the Electronics and Telecommunications Research Institute (ETRI), a research agency funded by government and private companies in Korea to advance information and communication technologies. ETRI's technology will be integrated into certain Redback routing products. ETRI's technology will be used to extend Redback's core broadband technologies to meet the needs of communications carriers and government-run networks in Korea and Greater Asia. Future collaboration also is planned around mobility services. Mobility services are attractive to Redback because the addressable edge router market for mobility services is expected to exceed $1.2 billion worldwide by 2008, according to two market authorities, the Yankee Group and Infonetics Research. "Redback has a solid history of collaboration and service innovation with Korean carriers, such as Korea Telecom (KT), and our equipment has been a critical component of the deployment of nationwide multi-service broadband networks," said Simon Williams, vice president of sales and operations for the Asia Pacific region at Redback Networks. "We believe that working with ETRI will help tailor our SmartEdge family of products to the Korean market and expand our broadband mobility opportunities in Korea." ETRI has a long and distinguished track record of world-class engineering research and partnering with world-class technology companies. For example, ETRI co-developed CDMA cell-phone technology with Qualcomm, the U.S. chip maker, for advanced cell-phone chips and handsets used in Korea and greater Asia. The initial focus of the Redback-ETRI technology sharing agreement will be on the BSP-10. The BSP-10 is a version of the SmartEdge 100, introduced by Redback in 2006. The BSP-10 is manufactured and sold by Kisan Telecom of Korea, a deal Redback announced in October 2006. The BSP-10 will be optimized for the specific requirements of the Korean market. Redback believes ETRI's software and hardware technologies will help drive additional opportunities in the carrier and government sectors in Korea. Redback plans to incorporate technology from ETRI to help accelerate deployment of integrated wired and wireless broadband infrastructures as well as advanced voice and video services. In Korea, Redback already helps deliver data, voice and video services to more than five million users of Korea Telecom and other carriers. Twelve of the top 20 telephone carriers worldwide deploy Redback's SmartEdge family of multi-service edge routers to deliver multiple broadband services to tens of millions of business and residential customers worldwide. These customers include British Telecom, Belgacom, BellSouth, China Telecom, China Netcom, Chunghwa Telecom (Taiwan), eAccess (Japan), France Telecom, Korea Telecom and Turk Telecom, among others. About Redback Networks Redback Networks Inc. manages 50 million broadband connections for 15 of the top 20 telephone carriers worldwide. Redback's multi-service routing platform delivers next generation broadband services such as VoIP, IPTV, On-Demand Video and on-line gaming. Redback Networks has more than 500 carrier customers worldwide and is based in San Jose, CA. In 2006, Redback marks its 10 year anniversary, celebrating ten years of broadband innovation. 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. Note Regarding Forward Looking Statements 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. These statements include but are not limited to statements regarding our expectations, beliefs, intentions or strategies regarding the future and including, without limitation, statements regarding the ability of Redback and ETRI to jointly develop the referenced products; the ability of the jointly developed products to meet the requirements of customers in Korea; projections that the addressable edge router market for mobility services is expected to exceed $1.2 billion worldwide by 2008; expected deployment of broadband services in Korea and the expected growth rate of broadband upgrades in that region, expectations regarding Redback's growing customer base in Korea; and the ability of Redback's products to help carriers deliver mobile broadband and voice, video and data services. All forward-looking statements included in this document are based upon information available to us as of the date hereof, and we assume 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 limitations potential difficulties in joint development efforts of products for the Korean market; industry tends that may impact the expected addressable market for mobility services; factors impacting our customers' buying patterns such as budget cycles or the timing of deployment of triple play networks; and other risks and uncertainties relating to our business as 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 for the fiscal year ended December 31, 2005, Form 10-Q for the quarter ended September 30, 2006, Forms 8-K, and amendments thereto, and the other reports filed from time to time with the SEC.