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F5 Networks Expands Corporate Campus and Grows Facilities Throughout Washington State

F5's continued success and leadership in local and global markets fuel expansion and employment growth; Company to construct new building in Seattle, occupy R&D facility along Bellevue's I-90 corridor, and triple its footprint in Spokane
F5 Networks, Inc. (NASDAQ: FFIV), the global leader in Application Delivery Networking, today announced plans for significantly expanding its existing facilities in Washington state, including enlarging the campus headquarters in Seattle with the addition of a new building, adding research and development (R&D) space in Bellevue, and tripling its office space in Spokane. The facilities expansion reflects the company's continuing growth across local and global markets. Over the last year, F5 employee headcount has increased by approximately 31 percent to 641 employees in Washington and by 34 percent to 1,355 worldwide.

"I'm pleased with our company's sustained growth, profitability, and market leadership, which are driving our expansion plans across the state and around the globe," said John McAdam, President and CEO of F5 Networks. "Along with this growth, F5 offers many exciting career opportunities and we're committed to hiring quality employees to maintain our strong track record for execution."

"Washington is a source of innovation and technology that is fueling global and local commerce," said Governor Chris Gregoire. "Combined with our state's high quality of life, this makes Washington attractive to many talented and skilled people from all over the world. I'm pleased to see companies like F5 thriving and tapping into talent and resources across the state and creating interesting job opportunities."

Corporate headquarters expands presence along Elliott Avenue waterfront

Construction is underway on the F5 building at 333 Elliott Avenue West, adding five floors and approximately 137,000 square feet with occupancy expected in June 2008. Upon completion, F5's corporate campus will encompass four buildings along the waterfront, adding to F5's current occupancy in buildings located at 351, 401, and 501 Elliott Avenue West for a total of approximately 300,000 square feet. The campus also hosts F5's Technology Center, a state-of-the-art facility that provides visiting customers and partners with a real-world environment to evaluate and test F5 solutions and partner applications.

Promoting wellness for employees and the environment

F5 has also made a commitment to adding wellness initiatives for its employees. To that end, the new building will house a large gym, cardiovascular and strength training rooms, full shower and locker facilities, and onsite towel service for employee convenience. There will be secured racks for the company's increasing number of bicycle commuters. F5 encourages employees to take alternative transportation to get to work to help reduce traffic congestion and pollution. Employees who walk, bike, or take public transportation receive a $300 per month transportation stipend. And, for employees who carpool, each employee in the carpool receives a $200 monthly stipend.

Bellevue facility to house R&D, technical personnel

F5 is leasing 15,000 square feet of office in the Factoria area of Bellevue, giving the company a presence on both sides of Lake Washington. The new R&D facility, which has convenient access to Interstates 90 and 405, is scheduled for occupancy by F5 in fall 2008.

"As we recruit new technical talent to F5, having an Eastside location presents an exciting opportunity for the company," said Karl Triebes, F5's Senior Vice President of Product Development and Chief Technical Officer. "We recognize that a healthy work/life balance is important to employees, and commuter issues are often a big consideration. The Bellevue office brings F5 into the Eastside technology corridor and offers close proximity to our Eastside partners."

Square footage triples at Spokane facility

The company's Spokane offices, at 1322 North Whitman Lane in Liberty Lake, are devoted to F5's hardware platform development, technical support management, and network support engineers (NSEs). F5 employees currently occupy 15,000 square feet of office space, and a new two-story addition will nearly triple the square footage to 43,000 when the space is ready for occupancy in January 2008.

About F5 Networks

F5 Networks is the global leader in Application Delivery Networking. F5 provides solutions that make applications secure, fast and available for everyone, helping organizations get the most out of their investment. By adding intelligence and manageability into the network to offload applications, F5 optimizes applications and allows them to work faster and consume fewer resources. F5's extensible architecture intelligently integrates application optimization, protects the application and the network, and delivers application reliability-all on one universal platform. Over 10,000 organizations and service providers worldwide trust F5 to keep their applications running. The company is headquartered in Seattle, Washington with offices worldwide. For more information, go to www.f5.com.

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This press release may contain forward looking statements relating to future events or future financial performance that involve risks and uncertainties. Such statements can be identified by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of such terms or comparable terms. These statements are only predictions and actual results could differ materially from those anticipated in these statements based upon a number of factors including those identified in the company's filings with the SEC.

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