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Riverstone Delays 10-K

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5/28/2003

SANTA CLARA, Calif. -- Riverstone Networks, Inc. (Nasdaq:RSTN - News) today announced that the company is delaying the filing of its Form 10-K for the fiscal year ended March 1, 2003, which is due on May 30, 2003, and expects to file a Form 12b-25 with the SEC explaining that delay. The company plans to file its Form 10-K as soon as practicable but does not currently expect that it will be filed on or before the 15th day following the required filing date as prescribed in Rule 12b-25.

As previously disclosed, the company has received a request from the Securities and Exchange Commission for the voluntary production of certain information in connection with the company's accounting practices. The company is fully cooperating with the SEC's request for information. The company is concurrently performing its own review of its accounting practices and is therefore deferring filing of its Form 10-K while the company's review proceeds.

Riverstone Networks Inc.

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