Redback Networks Inc. (NASDAQ: RBAK), a leading provider of nextgeneration broadband networking systems, today announced that Light Reading has awarded Redback the 2005 Leading Lights Award for Best Investment Potential. This prestigious award recognizes a company that represents the best long-term potential return on investment by virtue of solid management, product development and market growth potential. A staff of more than 20 editors and analysts selected this years winners from a fiercely competitive field of submissions, said Scott Raynovich, Editor-in-Chief of Light Reading. Our selection of Redback for the Best Investment Potential Award recognizes Redback's continued commitment to excellence and providing long-term return for investors. Leading Lights Award recipients were honored during a special gala held on December 14 in New York City. Redback President and Chief Executive Officer Kevin DeNuccio accepted the Leading Lights Award on the company's behalf. This award continues to validate Redback's growth in the broadband edge router marketplace and further illustrates our success in a highly competitive telecommunications landscape, said Marco Wanders, chief marketing officer at Redback Networks. We are truly honored that Light Reading has selected Redback for the Best Investment Potential Award. Light Reading established the Leading Lights Awards in 2004 as an important annual industry awards program designed to recognize top public and private companies and their executives for outstanding achievements in the telecommunications industry. For more information and full list of award categories, please visit Light Reading online at http://www.lightreading.com. 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 enables advanced IP based subscriber services to consumers, businesses and wholesale customers. The company's carrier-class, consumer-scale SmartEdge product family combines advanced subscriber management, carrierclass IP edge routing and highly scalable Ethernet aggregation functions. In conjunction with the NetOp 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 exchangecarriers (LECs), inter-exchange carriers (IXCs), PTTs, service providers and ISPs. For more information, visit Redback Networks at http://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 Redback as the winner of the 2005 Leading Lights Award for Best Investment Potential and whether this award represents the best long-term potential return on investment by virtue of solid management, product development and market growth potential and whether this award influences long-term return for investors. 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. These risks and other risks relating to Redback Networks' 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, Form 10-Q, Form 8-K, Redback's Registration Statement on Form S-3 (File No. 333-114352), and amendments thereto, and the other reports filed from time to time with the SEC.