Riverstone to Deliver Active Ethernet Network to 14 Utah Cities; Nation's Largest Fiber-to-the Premise Project Gets Underway.

SANTA CLARA, Calif. -- Riverstone Networks (Pink Sheets: RSTN) today announced that it will immediately begin shipping Ethernet equipment to the Utah Telecommunications Open Infrastructure Agency (UTOPIA) to build the largest fiber-to-the-premise (FTTP) network in the United States. Based upon the technology recommendation by DynamicCity Inc., the network management company responsible for the design, implementation and operation of the UTOPIA network, UTOPIA awarded Riverstone a contract to provide the network's Ethernet infrastructure, which will consist of Riverstone's RS 38000 core routers and RS 8600 metro aggregation routers.

The project is expected to take three years to build at an estimated cost of $300 million. Upon completion, the UTOPIA network will provide a wholesale active Ethernet network to approximately 140,000 residential and business subscribers in 14 Utah cities. The network will utilize DynamicCity's patent-pending Open Service Provider Network(TM) (OSPN) model, keeping network ownership separate from the service providers and enabling service providers to simultaneously operate on the network's bandwidth to deliver retail communications services. End-users will only pay for the services provided over the network, not access.

As residential demand for higher bandwidth grows, more and more municipalities, frustrated with a lack of high-speed broadband infrastructure, are opting to build their own metropolitan networks. For many, the simplicity and cost effectiveness of Ethernet make it the broadband infrastructure of choice. In fact, in IDC's recent report "Worldwide Fiber Access Equipment 2004-2008", the analyst firm predicts that Ethernet will be the dominant technology for FTTP networks.

"Clearly, people need the appropriate bandwidth to do such things as conduct business, take advantage of new educational opportunities, share family pictures and videos, and enjoy the truly competitive market for telecom services that UTOPIA will provide," said Paul Morris, UTOPIA's Executive Director. "We're delighted to implement the Riverstone carrier Ethernet solution, which has the proven capability and flexibility to support a network of the scale we envision. We have especially appreciated the outstanding level of commitment Riverstone has shown to the project."

Using Riverstone's MPLS-based Ethernet solutions, UTOPIA will be able to harness Virtual Private LAN Service (VPLS) technology to carry a combination of voice, video and data traffic to end-users with the reliability of an ATM network, but with less cost and complexity than traditional network architectures. Moreover, the scalability and openness of Riverstone's solutions will allow the network to easily accommodate traffic from multiple providers transparently.

"The OSPN model, coupled with the superior performance, price and manageability of Riverstone's Ethernet routers, creates a simple-to-operate network that provides a truly open and level playing field upon which service providers can equitably compete," said Keith Wilson, DynamicCity's Chief Executive Officer. "The result: fair service rates for end-users."

Riverstone Networks, Inc. (RSTN.PK) is a leading provider of carrier-class solutions for next generation metro Ethernet networks. Riverstone's metro routers and provisioning solutions deliver the ease of use, cost effectiveness, and flexibility that carriers require in meeting their customers' networking requirements in support of voice, video, and data services. Riverstone uniquely permits carriers to offer homogeneous services across existing revenue-generating networks and new Ethernet deployments.

Except for the historical information contained herein, the matters set forth in this press release, including without limitation statements concerning UTOPIA's future deployment of Riverstone products and what UTOPIA will be able to accomplish by using Riverstone products, 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 but are not limited to the rate at which subscribers join UTOPIA's network, as well as any unforeseen technical or operational issues that UTOPIA may encounter in implementing the Riverstone products. Additional risks to the Company's business are detailed from time to time in Riverstone Networks' SEC reports, including its quarterly report on Form 10-Q for the period ended November 30, 2002 and subsequent reports on Forms 8-K and 8-K/A. The company assumes no obligation to update or revise these forward-looking statements.

"Riverstone Networks" alongside the sphere with a swirl is a registered trademark of Riverstone Networks, Inc.