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Juniper Networks, Inc. Completes Sale of $1.0 Billion of Convertible Subordinated Notes

Mountain View, CA - March 3, 2000 - Juniper Networks, Inc. (Nasdaq:JNPR), a leading provider of next-generation IP infrastructure systems, announced today that it has completed the sale of $1.0 billion of its 4.75 percent Convertible Subordinated Notes due March 15, 2007 in an underwritten offering. The transaction is expected to close on March 8, 2000.

The Company has granted the initial purchasers a 30-day option to purchase an additional $150 million of notes to cover over-allotments, if any. The notes will be convertible into common stock of the Company at a conversion price of approximately $327.92 per share.

The net proceeds of the offering will be for working capital and general corporate purposes. The company may also use a portion of the net proceeds to fund acquisitions of and strategic investments in complementary businesses, products, or technologies.

The offering was lead managed by Goldman, Sachs & Co., with Credit Suisse First Boston, FleetBoston Robertson Stephens, Dain Rauscher Wessels, a division of Dain Rauscher Incorporated, SG Cowen Securities Corporation and Warburg Dillon Read LLC as co-managers.

A copy of the Prospectus relating to the offering may be obtained from the Prospectus Department of Goldman, Sachs & Co., at 85 Broad Street, New York, NY 10004, 212-902-1000. You can also view the registration statement on the Internet at http://www.freeedgar.com.

About Juniper Networks, Inc.

Juniper Networks, Inc. is a leading provider of purpose-built systems that meet the scalability, performance, density, and compatibility requirements of rapidly evolving, optically enabled IP networks. The company's purpose-built systems provide new IP infrastructure solutions for the world's leading service providers. Juniper Networks service, manufacturing teams, and IP engineers work closely with customers to build and support customer networks. The company is headquartered in Mountain View, California. For more information, please visit our Web site at https://www.juniper.net.

Juniper Networks is a registered trademark of Juniper Networks, Inc. All other trademarks, service marks, registered trademarks, or registered service marks may be the property of their respective owners.

Actual results could differ materially from those anticipated in forward-looking statements in this release as a result of certain factors, including those set forth in the risk factors described in the Company's SEC filings, including its recent S-1 Registration Statement.