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                                                                    EXHIBIT 99.1

Contacts:

Mike Staiger
Chief Financial Officer
Copper Mountain Networks, Inc.
650.687.3300
IR@coppermountain.com

            COPPER MOUNTAIN NETWORKS ANNOUNCES SECOND QUARTER 2001
         FINANCIAL RESULTS AND ACTIONS DESIGNED TO PROVIDE FOR FULLY-
                       FUNDED OPERATING PLAN BEYOND 2002

PALO ALTO, Calif., August 2, 2001--Copper Mountain Networks, Inc., (NASDAQ:
CMTN), a provider of copper-based broadband access solutions, today announced
financial results for the second quarter of 2001. Net revenue for the second
quarter of 2001 was $6.1 million, compared with $8.2 million in the prior
quarter.

Pro forma net loss for the second quarter of 2001 was $9.1 million, or $0.17 per
pro forma diluted share, compared to pro forma net loss of $10.7 million, or
$0.20 per pro forma diluted share in the prior quarter.  The pro forma net loss
excludes pro forma adjustments of $58.1 million, which are comprised of stock
based compensation charges, a write-off of purchased intangibles, a charge
related to the investment in commercial paper of Southern California Edison, a
charge for excess inventory, and applying an income tax rate of 42 percent to
the resulting loss from operations.  Net loss on a generally accepted accounting
principles (GAAP) basis for the second quarter of 2001 was $73.8 million, or
$1.39 per diluted share, compared to a net loss of $66.9 million, or $1.27 per
diluted share in the prior quarter.

Copper Mountain also announced that it has taken significant steps to reduce
expenses and conserve cash, resulting in an operating plan which the Company
believes will sustain the Company's currently planned operations beyond 2002
without the need to raise additional capital.  These actions include a headcount
reduction of approximately 40%, with affected employees being notified at once.
In addition, the Company will close its Fremont office and consolidate the
Fremont products and operations into its Palo Alto facility; shift from a direct
to indirect international sales and support model; and eventually terminate its
low-end CPE and MTU product lines.  The Company plans to take a third quarter
charge in the range of $15-18 million in connection with this restructuring.

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"In light of the difficult economic environment, we are pleased to report second
quarter revenue which is in line with Company guidance," said Rick Gilbert,
president and chief executive of Copper Mountain Networks. "We have taken
important steps to align our spending with current market conditions and fully
fund our current operating plan beyond 2002.  As a result, we believe we are
very well-positioned to serve our existing customers as well as the ILEC and IXC
customers we are pursuing today."

In addition, the Company announced two management team changes.  Charles Nieman
will retire as Vice President of Worldwide Sales and will be replaced by Doug
Hilmes, currently Vice President, National Accounts and a long-time member of
the Copper Mountain sales management team.  Keith Higgins, formerly Assistant
Vice President of Marketing, will return to the Company as Vice President of
Marketing replacing Bryan Long, who will remain with the Company as an executive
advisor through the end of this year.  These changes are effective immediately.

Copper Mountain Networks' second quarter 2001 earnings conference call will be
broadcast live today at 2:00 p.m. PST (5:00 p.m. EST) at www.coppermountain.com
                                                         ----------------------
and also through www.streetfusion.com. The dial-in number for the conference
                 --------------------
call is 1.800.937.4592. For replay telephone-access, dial
1.800.633.8284/858.812.6440 and enter the reservation number: 19286997. The
telephone replay will be available for approximately seven business days. The
taped audio replay will be archived on Copper Mountain's Website for
approximately 14 days following the call.

About Copper Mountain Networks

Copper Mountain Networks, Inc. (Nasdaq: CMTN) manufactures intelligent DSL and
aggregation equipment for central office, digital loop and multi-tenant unit
(MTU) broadband networks worldwide. Its DSL solutions enable carriers and
service providers to deliver cost-effective, high-performance data and voice
services over existing copper telephone wiring. Its CopperEdge(R) 200 DSL
Concentrator is deployed in some of the world's largest public networks, and its
environmentally hardened CopperEdge(R) RT (remote terminal) DSL Concentrator
extends the reach of DSL to the millions of customers served by digital loop
carriers (DLCs). With IP IQ(TM), Copper Mountain's robust Internet Protocol (IP)
service intelligence, service providers can maximize bandwidth utilization,
support value-added broadband services, and scale to meet the

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demands of hundreds of thousands of subscribers. Copper Mountain's
CopperRocket(R) CPE family and CopperCompatible(R) program ensure that Copper
Mountain DSL concentrators are interoperable with the broadest range of customer
premise equipment (CPE). Customers wanting more information about Copper
Mountain products or office locations worldwide can contact Wendy Holder at
1.650.687.3316 or visit the company's World Wide Web site at
http://www.coppermountain.com. For investor relations' information call toll
free 1.877.INFO.CMTN (463.6268) or contact us at IR@coppermountain.com.


Safe Harbor Warning

Portions of this release contain forward-looking statements regarding future
events based on current expectations and are subject to risks and uncertainties,
such as statements regarding Copper Mountain's forecasts of its unproven
operating plan. Copper Mountain wishes to caution you that there are some
factors that could cause actual results to differ materially from the results
indicated by such statements.  These factors include, but are not limited to:
quarterly fluctuations in operating results attributable to the timing and
amount of orders for our products; the ability of our CLEC customer base to
raise sufficient capital to fund their operations and continue to order and pay
for our products (including the risk that the Company will not be able to
collect existing receivables from its customer base); rapid changes in the
service provider landscape and among our CLEC customer base; the concentration
of our revenue in a small number of customers; the rate of growth in our client
base; our ability to penetrate the international, and the incumbent
telecommunications service provider (ILEC/IXC) market; factors affecting the
rate of DSL deployment by our customers; market acceptance of our products; our
ability to keep pace with rapidly changing product requirements; factors
affecting the demand for DSL technologies; the estimated charges, including
restructuring charges, related to the collectability of certain receivables,
charges related to the investment in commercial paper of Southern California
Edison and charges for excess inventory, could be underestimated; the ability to
realize sufficient revenues in the future to sustain or achieve profitability on
an annual or quarterly basis (including the risk that from time to time the
Company may need to write-off excess or obsolete inventory); factors which could
affect our profit margins or lead to increased expenses, such as pressures to
reduce our product prices, increases in our costs of goods sold and unforeseen
increases in research and development expenses; the loss of services of key
personnel which could materially adversely affect our business; factors and
market conditions affecting the telecommunications industry, the market for DSL
services, CLEC service providers and economic conditions

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generally, which are beyond Copper Mountain's ability to control. Prospective
investors are cautioned not to place undue reliance on such forward-looking
statements. Further, Copper Mountain expressly disclaims any obligation to
update or revise any forward-looking statements contained herein to reflect
future events or developments after the date hereof. We refer you to the
documents Copper Mountain files from time to time with the Securities and
Exchange Commission, specifically the section titled Risk Factors in our Annual
Report on Form 10-K for the year ended December 31, 2000 and other reports and
filings made with the Securities and Exchange Commission.

Copper Mountain and all Copper Mountain product names are trademarks of Copper
Mountain Networks, Inc.  All other marks are the property of their respective
owners.

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                         Copper Mountain Networks, Inc.
                  Pro Forma Condensed Statements of Operations
                    (in thousands, except per share amounts)

<TABLE>
<CAPTION>
                                                                Three Months Ended                      Six Months Ended
                                                                     June 30,                                June 30,
                                                       -----------------------------------       ----------------------------------

                                                            2001               2000                    2001               2000
                                                       ----------------   ----------------       ---------------    ---------------
<S>                                                       <C>                  <C>                  <C>                <C>
Net revenue                                            $     6,054        $     80,185           $    14,215        $   141,009
Cost of revenue                                              4,182              36,079                 8,710             64,180
                                                       ----------------   ----------------       ---------------    ---------------
Gross margin                                                 1,872              44,106                 5,505             76,829
Operating expenses:
   Research and development                                 10,781               8,400                22,448             15,172
   Sales and marketing                                       4,876               9,370                11,886             15,033
   General and administrative                                3,232               3,917                 8,410              6,580
                                                       ----------------   ----------------       ---------------    ---------------
          Total operating expenses                          18,889              21,687                42,744             36,785
                                                       ----------------   ----------------       ---------------    ---------------
Income (loss) from operations                              (17,017)             22,419               (37,239)            40,044
Other income, net                                            1,256               2,133                 3,088              3,933
                                                       ----------------   ----------------       ---------------    ---------------
Income (loss) before income taxes                          (15,761)             24,552               (34,151)            43,977
Provision (benefit) for income taxes                        (6,620)             10,312               (14,343)            18,470
                                                       ----------------   ----------------       ---------------    ---------------
Pro forma net income (loss)                            $    (9,141)       $     14,240           $   (19,808)       $    25,507
                                                       ================   ================       ===============    ===============
Pro forma basic net income (loss) per share            $     (0.17)       $       0.28           $     (0.38)       $      0.51
Basic common stock equivalents                              52,959              50,561                52,776             49,568
Pro forma diluted net income (loss) per share          $     (0.17)       $       0.24           $     (0.38)       $      0.44
Diluted common stock equivalents                            52,959              58,503                52,776             57,961
</TABLE>

     The above Pro Forma Condensed Statements of Operations is not a
presentation in accordance with generally accepted accounting principles as it
excludes the effects of the following:

     (1)  The three months ended June 30, 2001 excludes $0.8 million of stock
          based compensation, a $40.8 million write-off of purchased
          intangibles, a $0.4 million charge related to the investment in
          commercial paper of Southern California Edison, $16.0 million of
          charges related to excess inventory on hand and on order, and the
          resulting loss before tax is taxed utilizing a 42.0% tax rate. The six
          months ended June 30, 2001 excludes $1.4 million of stock based
          compensation, a $40.8 million write-off of purchased intangibles, $5.3
          million of amortization of purchased intangibles, a $1.0 million
          charge related to the investment in commercial paper of Southern
          California Edison, $51.0 million of charges related to excess
          inventory on hand and on order, a $2.6 million charge related to the
          collectibility of certain receivables, a $4.4 million restructuring
          charge, and the resulting loss before tax is taxed utilizing a 42.0%
          tax rate.

     (2)  The three months ended June 30, 2000 excludes $1.2 million of stock
          based compensation, $5.2 million in amortization of purchased
          intangibles and the resulting income before tax is taxed utilizing a
          42.0% tax rate. The six months ended June 30, 2000 excludes $2.2
          million of stock based compensation, $7.1 million in amortization of
          purchased intangibles, a $6.3 million write-off of purchased
          intangibles, and the resulting income before tax is taxed utilizing a
          42.0% tax rate.

     The pro forma data is presented for informational purposes only and should
not be considered as a substitute for the historical financial data presented in
accordance with generally accepted accounting principles.
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                        Copper Mountain Networks, Inc.
                      Condensed Statements of Operations
                   (in thousands, except per share amounts)

<TABLE>
<CAPTION>
                                                                 Three Months Ended                      Six Months Ended
                                                                      June 30,                                June 30,
                                                         ------------------------------         -----------------------------
                                                               2001              2000                 2001             2000
                                                         -------------     ------------         ------------       -----------
<S>                                                      <C>               <C>                  <C>                <C>
Net revenue                                              $       6,054     $     80,185         $     14,215       $    41,009
Cost of revenue                                                  4,182           36,079                8,710            64,180
Charge related to excess inventory on hand and on order         16,000             ----               51,000              ----
                                                         -------------     ------------         ------------       -----------
Gross margin                                                   (14,128)          44,106              (45,495)           76,829
Operating expenses:
 Research and development                                       10,781            8,400               22,448            15,172
 Sales and marketing                                             4,876            9,370               11,886            15,033
 General and administrative                                      3,232            3,917                8,410             6,580
 Amortization of purchased intangibles                            ----            5,246                5,326             7,099
 Amortization of deferred stock compensation                       828            1,164                1,384             2,196
 Restructuring and other non-recurring                            ----             ----                7,000              ----
 Write-off of in-process research and development                 ----             ----                 ----             6,300
 Write-off of purchased intangibles                             40,833             ----               40,833              ----
                                                         -------------     ------------         ------------       -----------
     Total operating expenses                                   60,550           28,097               97,287            52,380
                                                         =============     ============         ============       ===========
Income (loss) from operations                                  (74,678)          16,009             (142,782)           24,449
Other income, net                                                  861            2,133                2,068             3,933
                                                         -------------     ------------         ------------       -----------
Income (loss) before income taxes                              (73,817)          18,142             (140,714)           28,382
Provision (benefit) for income taxes                              ----            7,811                 ----             4,378
                                                         -------------     ------------         ------------       -----------
Net income (loss)                                        $     (73,817)    $     10,331         $   (140,714)      $    24,004
                                                         =============     ============         ============       ===========
Basic net income (loss) per share                        $       (1.39)    $       0.20         $      (2.67)      $      0.48
Basic common stock equivalents                                  52,959           50,561               52,766            49,568
Diluted net income (loss) per share                      $       (1.39)    $       0.18         $      (2.67)      $      0.41
Diluted common stock equivalents                                52,959           58,503               52,766            57,961
</TABLE>

                            Condensed Balance Sheets
                                 (in thousands)
<TABLE>
<CAPTION>
                                   June 30,            Dec 31,          Liabilities and                 June 30,          Dec 31,
Assets                               2001               2000            Stockholders' Equity              2001             2000
<S>                               <C>               <C>                 <C>                           <C>              <C>
Current assets:                                                         Current liabilities:
 Cash and S-T Investments         $   103,667       $    162,616          Accounts payable            $    30,222      $    23,963
 Accounts receivable                    1,709             19,496          Accrued liabilities              10,324           17,351
 Inventory                             15,803             26,405          Adverse purch. commit.           12,173           28,600
 Other current assets                   2,247              7,961          Current notes payable             3,162            3,177
                                  -----------       ------------                                      -----------      -----------
Total current assets                  123,426            216,478        Total current liabilities          55,881           73,091
Property and equip, net                22,231             24,961        Notes payable                       5,092            6,654
Other assets                            2,166             17,287        Other liabilities                     453              314
Purchased intangibles                       -             46,159        Total stockholders' equity         86,397          224,826
                                  -----------       ------------                                      -----------      -----------
                                  $   147,823       $    304,885                                      $   147,823      $   304,885
                                  ===========       ============                                      ===========      ===========
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