Redback Networks Claims the Second Spot in Broadband Internet Delivery

Redback Networks Inc. (Nasdaq:RBAK), a leading provider
of next-generation broadband networking systems, has become the number
two market leader in broadband internet service, passing Juniper
Networks for the first time, according to a new report by Infonetics,
a major industry research firm in Campbell, CA.
In its second quarter report for 2006, Infonetics reported that
Redback's market share increased nine percentage points to 20 percent,
rising to the second spot in the overall market. In the same report,
Juniper's market share dropped 18 points to 19 percent overall,
dropping to the third spot. Cisco Systems' market share dropped nine
points to 36 percent, the top spot in the Infonetics report. The
report compared results from second quarter of 2006 to the second
quarter of 2005. For more details on this report, see
www.infonetics.com.
"One of the three pillars for 'triple-play' services is broadband
internet delivery. Redback is rising in the market place because it
sees a future of fewer networks and more services, delivering a
combination of high-speed Internet, VoIP and video-on-demand
services," said Michael Howard, principal analyst and co-founder of
Infonetics Research, a major research firm in Campbell, CA.
"We believe this market study is an important validation for
Redback's gains in the broader market category of multi-service
routing," said Marco Wanders, chief marketing officer at Redback
Networks. "On a worldwide basis, broadband carriers are moving rapidly
toward a single integrated IP network for high-speed data, voice and
video services. Carriers want to reduce the number of networks they
are building and simplify their operations. Network economics no
longer support new overlay networks for IP-based, triple-play
services. Redback's SmartEdge(R) multi-service edge router helps
carriers deliver multiple services over a single, integrated IP
network."
Wanders said multi-service routing will eventually overtake other
categories of single-service routing. "We see a future of fewer
networks and more broadband services," said Wanders. "Over time, we
believe that networks will get smarter, and all communications
services will be managed in harmony under a single IP infrastructure."
Eleven of the top 20 DSL carriers worldwide deploy Redback's
SmartEdge(R) multi-service edge router to deliver various broadband
services to tens of millions of business and residential customers
worldwide. These customers include British Telecom, Belgacom, Bell
South, China Telecom, China Netcom, Chungwha Telecom, France Telecom
and Turk Telecom, among others.

About Redback Networks

Redback Networks Inc. manages 40 million broadband connections for
15 of the top 20 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 Redback
Networks' position as the number two market leader in broadband
internet service delivery, the belief that broadband carriers are
moving toward a single integrated IP network and that all
communications services will be managed under a single IP
infrastructure, the ability of Redback's products to help carriers
deliver such services, and the belief that multi-service routing will
overtake other categories of single-service routing. 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 other risks relating to our business are 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 June 30, 2006, Forms 8-K, and amendments thereto, and
the other reports filed from time to time with the SEC.