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Philadelphia Stock Exchange Trades Up to a High Performance Juniper Networks Infrastructure

Philadelphia Stock Exchange Debuts State-of-The-Art Trading Network Based on Lightning-fast Juniper Routing Infrastructure

SUNNYVALE, Calif. and PHILADELPHIA, Pa. March 26, 2007 - Juniper Networks, Inc. (NASDAQ: JNPR) and The Philadelphia Stock Exchange (PHLX) today announced that the PHLX has launched a new, state-of-the art Institutional Regional Optical Network - (PHLX IRON Network) that relies on the Juniper Networks M-series routers. The Juniper Networks routers facilitate secure high-speed data transfer to support PHLX XLE, the Exchange's new, fully electronic Regulation National Market System (NMS) compliant equity trading system. To augment the new system, the PHLX has also set up four co-location sites and virtual data centers in northern New Jersey and the greater New York and Philadelphia areas that also rely on the Juniper Networks M-series routers.

The PHLX IRON Network provides multiple access options with fast and reliable data flow for maximum performance, geographic diversity and access to all of the PHLX's services from a single connection. The PHLX IRON Network provides universal access to the PHLX XLE equity trading system, the PHLX XL options trading system and the PBOT XL futures trading system on a single connection from any PHLX IRON Network location.

According to William H. Morgan, PHLX's executive vice president and CIO, "The new network infrastructure expansion and co-located presence uniquely positions the PHLX to be one of the fastest and most reliable Reg NMS compliant electronic trading venues by providing extremely high availability and ultra low latency. We took into account speed, resiliency and quality of execution across the board and established a common infrastructure that provides participation to all electronic marketplaces enabling the PHLX to be one the most cost-effective market centers to do business."

"Financial institutions operate in an environment where large volumes of highly sensitive data are exchanged in a constant routine, said Steven Wastie, vice president of enterprise marketing at Juniper Networks. "The Juniper Networks M-series routers use a hardware-based approach combined with the highly scalable, secure, and reliable JUNOS TM software. This no compromise hardware approach offers security features that are able to identify network issues before they affect application performance and, ultimately, customer satisfaction."

"Our systems are designed to produce competitive pricing and deep liquid markets while our networks focus on speed of execution reports. Because this was a considerable endeavor, and because the new network would be the foundation for the Exchange's future, we wanted to work with the leader in MPLS solutions. That's why we turned to Juniper Networks.", says Frank Ziegler, PHLX vice president of communications. "Through the use of the latest DWDM, MPLS and L3VPN technology, all PHLX financial services and real-time market data feeds are available and disseminated via any PHLX IRON Network connection. This allows for significant capacity and expansion capabilities as well as for ease of access that will enable member firms, liquidity providers and quoting vendors to quickly and easily connect to the trading system front-ends."

About Juniper Networks, Inc.

Juniper Networks develops purpose-built, high-performance IP platforms that enable customers to support a wide variety of services and applications at scale. Service providers, enterprises, governments and research and education institutions rely on Juniper to deliver a portfolio of proven networking, security and application acceleration solutions that solve highly complex, fast-changing problems in the world's most demanding networks. Additional information can be found at www.juniper.net.

About The PHLX

The Philadelphia Stock Exchange was founded in 1790. The PHLX trades more than 7,000 stocks, 2,308 equity options, 15 sectors index options and currency options. For more information about the PHLX and its products, visit www.phlx.com.

Juniper Networks and Junos are registered trademarks of Juniper Networks, Inc. in the United States and other countries. The Juniper Networks and Junos logos are trademarks of Juniper Networks, Inc. All other trademarks, service marks, registered trademarks, or registered service marks are the property of their respective owners.