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Karl Triebes Joins F5 Networks as Chief Technical Officer and Senior Vice-President of Product Development

Triebes brings a successful track record of driving the development of enterprise networking and next generation telecommunications products
F5 Networks, Inc. (NASDAQ: FFIV), 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.

About F5 Networks

F5 enables organizations to successfully deliver business-critical applications and gives them the greatest level of agility to stay ahead of growing business demands. As the pioneer and global leader in Application Traffic Management, F5 continues to lead the industry by driving more intelligence into the network to deliver advanced application agility. F5 products ensure the secure and optimized delivery of applications to any user - anywhere. Through its flexible and cohesive architecture, F5 delivers unmatched value by dramatically improving the way organizations serve their employees, customers and constituents, while lowering operational costs. Over 6,000 organizations and service providers worldwide trust F5 to keep their businesses running. The company is headquartered in Seattle, Washington with offices worldwide. For more information go to www.f5.com

About F5

F5 (NASDAQ: FFIV) makes apps go faster, smarter, and safer for the world’s largest businesses, service providers, governments, and consumer brands. F5 delivers cloud and security solutions that enable organizations to embrace the application infrastructure they choose without sacrificing speed and control. For more information, go to f5.com. You can also follow @f5networks on Twitter or visit us on LinkedIn and Facebook for more information about F5, its partners, and technologies.

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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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