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Frost & Sullivan Asia Pacific Security Market Report: NetScreen Leads in Market Share Gain for 2002

NetScreen Asia Receives Market Penetration Award

Sunnyvale, CA - July 22, 2003 - NetScreen Technologies, Inc. (Nasdaq: NSCN) today announced that a recent Frost & Sullivan network security market research study for Asia Pacific states that NetScreen revenues in the region increased by more than 100 percent for the calendar year 2002. The report, titled “Asia Pacific Network Security Market” , also states that NetScreen has clearly captured significant market share from other competitors and no other competitor matches the market share gain achieved by NetScreen in 2002.

As the fastest growing among the big vendors in Asia Pacific market revenue share, NetScreen recently received the Frost & Sullivan Market Engineering Award for Market Penetration. In addition to market revenue share growth, evaluation for the award also takes into consideration the vendor’s performance in product innovation, marketing and sales strategies that has enabled the company to demonstrate excellence within the industry.

According to the report, the firewall-VPN market growth forecast in the Asia Pacific region demonstrates a shift from software-based solutions to hardware appliances, indicating that the latter will dominate with 95 percent contribution in 2008. The report also indicates that the customer’s evolving security requirements will drive the popularity for integrated multi-solution platforms that will provide improvements in performance, manageability and return on investment (ROI).

Frost & Sullivan, Report no. 4075, Published in May 2003.

“As business networks grow more complex and network attacks more sophisticated, there is constant pressure on security solutions to be more intelligent and proactive,” said Nitin Acharekar, Industry Analyst, Technology Practice at Frost & Sullivan Asia Pacific. “Business customers are no longer content with disparate security solutions and perimeter defense. They are looking for security solutions, such as NetScreen’s, that offer best-of-breed technologies integrated onto an appliance-based platform and provide high throughput, ease of use and reduced maintenance costs.”

“It is an honor to be recognized as a key network security player in Asia by a leading research and consulting company such as Frost & Sullivan,” said Hansen Chang, vice president of Asia Pacific sales for NetScreen. “This recognition along with the awards we have received, and our customers’ positive response to our products demonstrate that NetScreen’s high-performance, purpose-built integrated firewall and VPN security appliances and systems are a compelling solution for the market.”

About Frost and Sullivan

Frost & Sullivan is an international growth consulting company that monitors the technology industry for market trends, market measurements and strategies. Headquartered in Silicon Valley, Frost & Sullivan has offices worldwide in the United States, Europe and Asia. Using our Market Engineering methodology, our global team of analysts and consultants track over 200 key industries. To find out more about Frost & Sullivan, please visit www.frost.com.

About NetScreen Technologies

NetScreen Technologies, Inc., is a leading developer of integrated network security solutions that offer the security, performance and total cost of ownership required by enterprises and carriers. NetScreen’s innovative solutions provide key security technologies, such as virtual private network, denial of service protection, firewall and intrusion prevention, in a line of easy-to-manage security appliances and systems. NetScreen is located at 805 11th Ave., Sunnyvale, CA, 94089. More information on NetScreen’s products can be found at http://www.netscreen.com or by calling toll free at 1-800-638-8296.

NetScreen and the NetScreen logo are trademarks of NetScreen Technologies, Inc. in the United States and other countries. Other trademarks are the property of their respective owners.

This press release contains forward-looking statements about events and circumstances that have not yet occurred. For example, words such as “will”, “can”, “provide”, “enabling” and “continue”, or other statements in the future tense, are forward-looking statements. Actual outcomes and results may differ materially from expectations in this press release due to a number of risks and uncertainties. Such risks and uncertainties include whether the market for security products will grow as projected, if at all, whether demand for NetScreen products will continue, whether new products, if and when introduced, will be successful and whether products will perform as expected.