SANTA CLARA, Calif. -- Riverstone Networks, Inc. (Nasdaq:RSTNE) announced today that it received a Nasdaq Staff Determination on July 23, 2003 indicating the Company has failed to comply with Nasdaq Marketplace Rule 4310(c)(14) by failing to timely file its Form 10-Q for the quarterly period ended May 31, 2003. As previously announced, a hearing was held on July 17 before the Nasdaq Listing Qualifications Panel to review the company's market listing status and reporting requirements. The outcome of the hearing is pending the decision of the Panel, and the Company is continuing to work to regain compliance with the Nasdaq listing requirements. There can be no assurance the Panel will grant the Company's request for continued listing.

Riverstone Networks Inc.