Thursday, June 29, 2006

Redback Receives Subpoena on Option Grants

Redback Networks received a subpoena from the United States Attorney for the Northern District of California requesting documents related to the Company's historical stock option practices. Redback intends to cooperate fully with the U.S. Attorney's Office in connection with this subpoena.

The company also confirmed that it received an informal request from the Securities and Exchange Commission for information on historical stock option grant practices.