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Juniper Networks, Inc. Revises Q4'01 Outlook

Sunnyvale, CA - December 20, 2001 - Juniper Networks, Inc. (Nasdaq: JNPR), a leading provider of next-generation IP infrastructure systems, today presented a revised outlook for its fourth quarter results for the period ending December 31, 2001.

Juniper Networks expects revenue for the fourth quarter of 2001 to be approximately $150-155 million, down from the original guidance of $200 million. We expect pro forma earnings to be approximately $0.05 per share.

Our revised expectations are a result of caution on the part of our service provider and carrier customers given current market conditions. Customers continue to prefer Juniper Networks M-Series infrastructure systems with the reliability and scalability of JUNOS software and the uncompromised multi-service packet-processing performance of the Internet Processor II ASIC.

"We will continue to focus on our financial metrics and our ongoing profitability, despite the challenging environment," said Scott Kriens, Chairman and CEO of Juniper Networks. "And we will remain committed to our service provider customers, who in turn remain committed to Juniper Networks and the New Public Network we are building together."

Conference Call information
Juniper Networks will have a conference call and Webcast today, December 20, 2001, beginning at 5:30 A.M. Pacific Time. The call can be accessed by dialing 888-849-9216 (International callers can dial 415-908-6247).

There will be an audio replay available on Juniper.net. In addition, you can call the replay at 800-633-8284 (or 858-812-6440) and enter the reservation number 20149758, through December 31, 2001. The replay will be available 24 hours a day, including weekends.

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 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 Sunnyvale, California. For more information, please visit the Web site at https://www.juniper.net/.

Juniper Networks is registered in the U.S. Patent and Trademark Office and in other countries as a trademark of Juniper Networks, Inc. Internet Processor II and JUNOS are trademarks of Juniper Networks, Inc. All other trademarks, service marks, registered trademarks, or registered service marks are the property of their respective owners.

This announcement contains forward-looking statements regarding our estimates of revenue and earnings per share for the fourth quarter, which will end on December 31, 2001. Actual results could differ materially from the forward-looking statements in this release as a result of certain factors, including the amount of sales completed during the remainder of the quarter; any accounting adjustments made during the close of the Company's quarter and unforeseen expenses that the Company may incur during the remainder of the quarter; business and economic conditions and growth in the networking industry in various geographic regions; global economic conditions; service provider capital spending in the data or IP segments; variations in customer demand for products and services; the timing of orders and manufacturing lead times; changes in customer order patterns; mix of products sold; managing expenses; increased competition in the networking industry; as well as those set forth in the risk factors described in the Company's SEC filings, including our most recent Forms 10K and 10Q. All forward-looking statements included in this document are based upon information available to Juniper Networks as of the date hereof, and Juniper Networks assumes no obligation to update any such forward-looking statements.