RBAK Redback Networks

Redback Networks Inc. (NASDAQ:RBAK), a leading provider of multi-service edge routers for next generation broadband networks, today announced it has won the second phase of a broadband network upgrade with largest provincial carrier in China. Guangdong Telecom will use Redback�s SmartEdge� family of multi-service edge routers to deliver broadband internet, IPTV and virtual private network (VPN) services for up to four million homes and businesses. Today�s announcement is one of the largest network upgrades that Redback will help manage in China. Guangdong Telecom is the largest independently run provincial carrier of China Telecom, which has an estimated 50+ million customers. Guangdong Telecom contributes one-quarter of China Telecom�s revenues and one-third of China Telecom�s profit. Guangdong Telecom is planning to grow the broadband business more aggressively and double the number of broadband subscribers in the next one or two years. With more than 50 million broadband customers, China is Redback�s second largest market outside of the United States. In the last 18 months, Redback�s SmartEdge� multi-service edge routers have been deployed in 22 of the 32 provinces in China. For China Telecom, this includes provincial carriers in Guangdong, Zhejiang, Fujian, Anhui, Hubei, Jiangxi, Yunnan, Shaanxi, Ningxia, Heilongjiang and Tibet. For China Netcom, this includes similar deployments in Shandong, Liaoning, Hebei, Heilongjiang, Jilin, Henan, Shanxi, Inner Mongolia, Zhejiang, Chongqing and Yunnan. �We thank Guangdong Telecom for selecting Redback,� said Simon Williams, vice president of sales and operations in Asia at Redback Networks. �Building out broadband networks strengthens worldwide competitiveness, and we are pleased that Guangdong Telecom leaders share Redback�s vision of single IP network for broadband data, voice and video services. Over time, we see a future where all communications services will be managed in harmony under a single IP-based broadband infrastructure.� Twelve of the top 20 DSL carriers worldwide deploy Redback's SmartEdge� multi-service edge routers to deliver 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, 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 and On-Demand Video. 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 China's expected deployment of broadband services and IPTV services; the expectation that Guangdong Telecom will serve up to three million broadband subscribers using Redback products; that carriers will support fewer networks and migrate wireless and wire-line users to a single broadband infrastructure; and the ability of Redback's products to help Guangdong Telecom and other carriers deliver such 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. These 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 broadband networks, today announced it has won the second phase of a broadband network upgrade with largest provincial carrier in China. Guangdong Telecom will use Redback's SmartEdge(R) family of multi-service edge routers to deliver broadband internet, IPTV and virtual private network (VPN) services for up to four million homes and businesses. Today's announcement is one of the largest network upgrades that Redback will help manage in China. Guangdong Telecom is the largest independently run provincial carrier of China Telecom, which has an estimated 50+ million customers. Guangdong Telecom contributes one-quarter of China Telecom's revenues and one-third of China Telecom's profit. Guangdong Telecom is planning to grow the broadband business more aggressively and double the number of broadband subscribers in the next one or two years. With more than 50 million broadband customers, China is Redback's second largest market outside of the United States. In the last 18 months, Redback's SmartEdge(R) multi-service edge routers have been deployed in 22 of the 32 provinces in China. For China Telecom, this includes provincial carriers in Guangdong, Zhejiang, Fujian, Anhui, Hubei, Jiangxi, Yunnan, Shaanxi, Ningxia, Heilongjiang and Tibet. For China Netcom, this includes similar deployments in Shandong, Liaoning, Hebei, Heilongjiang, Jilin, Henan, Shanxi, Inner Mongolia, Zhejiang, Chongqing and Yunnan. "We thank Guangdong Telecom for selecting Redback," said Simon Williams, vice president of sales and operations in Asia at Redback Networks. "Building out broadband networks strengthens worldwide competitiveness, and we are pleased that Guangdong Telecom leaders share Redback's vision of single IP network for broadband data, voice and video services. Over time, we see a future where all communications services will be managed in harmony under a single IP-based broadband infrastructure." Twelve of the top 20 DSL carriers worldwide deploy Redback's SmartEdge(R) multi-service edge routers to deliver 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, 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 and On-Demand Video. 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 China's expected deployment of broadband services and IPTV services; the expectation that Guangdong Telecom will serve up to three million broadband subscribers using Redback products; that carriers will support fewer networks and migrate wireless and wire-line users to a single broadband infrastructure; and the ability of Redback's products to help Guangdong Telecom and other carriers deliver such 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. These 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.