Korea's KT Selects Riverstone for New Buildout of Nation's Largest Broadband Services Network.

Business Editors/High-Tech Writers

SANTA CLARA, Calif.--(BUSINESS WIRE)--Nov. 11, 2002

Riverstone Networks, Inc. (Nasdaq:RSTN) today announced that KT (formerly Korea Telecom), the world's largest broadband services provider, has selected Riverstone's RS family of metro routers for the third phase of its Ntopia project, which connects more than 5 million subscribers over Korea's largest broadband metropolitan network.

KT selected Riverstone's RS 8600 routers to deliver advanced Ethernet-based services, such as e-learning, online gaming, and other bandwidth-intensive multimedia applications, in one, five and 10 Mbps increments to residents throughout South Korea. One of the most highly deployed metro router platforms in the world, the RS 8600 combines powerful service creation capabilities with a full range of advanced metropolitan networking technologies to enable the delivery of such services as multi-protocol label switching (MPLS) virtual private networks (VPNs), bandwidth provisioning, and tiered bandwidth services.

"Riverstone continues to dominate the Korean telecommunications market with deployments in nearly every major carrier network, many of which are among the most technologically advanced networks in the world," said Marian Stasney, managing partner at Telecom Inquiry Solutions. "As these carriers move from initial network build outs to advanced service deployments, it is a testament of Riverstone's technological prowess that carriers such as KT, PowerComm and Hanaro are again choosing Riverstone solutions."

KT's selection of Riverstone follows the successful deployment of the RS family of routers in both the first phase of the Ntopia project and in the nationwide build out of its metropolitan core. With the Ntopia and core deployments, Riverstone is providing KT with a metro core-to-access edge routing solution that leverages the RS family's aggregation and routing capabilities.

"KT is more than a pioneer in bringing next-generation networking services to Korea; they have become one of the most advanced carriers in the world," said Andrew Feldman, Riverstone's vice president of corporate marketing and development. "Riverstone has been involved with KT from the beginning of its ambitious network roll out, and as they expand their network to better serve a growing subscriber base, Riverstone will continue to provide KT with the advanced networking solutions it needs to guarantee service delivery."

KT's Ntopia is a multiphase project designed to create a cyber village that links residential users in Korea's large-scale apartment complexes to a variety of services, including video on demand (VoD), video conferencing, individual homepages and community-based information by providing high-speed Ethernet-based Internet access over dark or unused fiber-optic cable.

About Korea Telecom

KT is the largest and the most sophisticated communication network company in Korea. It operates the largest ADSL network worldwide with over 3 million subscriber lines in Korea. Korea Telecom also offers a full line of wire/wireless solutions including LAN/WAN, portal, web hosting, B2B/B2C, wireless, ADSL, ISDN, satellite and many other services.

About Riverstone Networks

Riverstone Networks, Inc. (Nasdaq:RSTN) provides solutions for metropolitan area networks, enabling carriers to convert raw bandwidth into profitable services. In more than 50 countries, carriers operating many of the world's largest metropolitan area networks depend on Riverstone to create and reliably deliver profitable services over legacy and next-generation infrastructures. Worldwide, Riverstone routers are the trusted choice of many telecommunications carriers. For more information, please visit Riverstone's web site at www.riverstonenet.com.

Except for the historical information contained herein, the matters set forth in this press release, including statements as to market growth, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements speak only as of the date hereof and are subject to risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include the risks detailed from time to time in Riverstone Networks' SEC reports, including its quarterly report on Form 10-Q for the period ended Aug. 31, 2002. Riverstone Networks disclaims any intent or obligation to update or revise these forward-looking statements.

Riverstone Networks is a trademark of Riverstone Networks, Inc. All other trademarks, service marks, and trade names belong to their respective owners.