Triebes Joins F5 Networks

SEATTLE -- F5 Networks, Inc. (Nasdaq: FFIV - News), the global leader of Application Traffic Management products, today announced the appointment of Karl Triebes as Chief Technical Officer and Senior Vice-President of Product Development at F5 Networks. Karl will assume this role on Monday, August 16, 2004. Most recently, Karl was the Chief Technical Officer and Vice President of Engineering at Foundry Networks in San Jose, where he was responsible for the strategic direction of corporate product architectures and technology roadmap.

"Karl has a proven track record for bringing leading-edge technology and products to the enterprise and service provider markets," said John McAdam, President and CEO of F5 Networks. "I'm confident that Karl's vision and expertise will be invaluable as we continue to strengthen and build upon F5's leading position in the Application Traffic Management market and deepen our penetration in the application security market."

Prior to Foundry, Karl served as the Vice-President of Engineering at Alcatel where he led and provided technical direction to a diverse team of over 200 engineers in the development of a next generation multimedia gateway platform.

"I'm excited to join a company that has established an outstanding reputation as a technology leader and consistent innovator," said Karl Triebes. "F5 is very well positioned in the market today with many compelling opportunities ahead. I look forward to helping F5 shape and refine its product roadmap and further enable the company to capitalize on its uniquely powerful intellectual property and products."

NASDAQ requires option disclosure as follows. Karl has received options to purchase 300,000 shares of Company stock with a grant date of August 16, 2004. These options will be granted without shareholder approval pursuant to Nasdaq Marketplace Rule 4350 (i)(1)(A)(iv) with the following general terms; each option will have an exercise price equal to fair market value on the grant date, have a ten-year term, and vest over a four year period subject to accelerated vesting on a change in control of the Company.

F5 Networks Inc.