INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS by egreenews

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Cree Sets a New Standard for Indoor LED Lighting with the XLamp® MX6 LED, Industry’s First LightingClass PLCC LED DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, extends its lightingclass LED leadership into PLCC LEDs with the commercial availability of the new XLamp® MX6 LED. The MX6 LED offers the performance and reliability that customers expect from Cree XLamp LEDs with enhanced light uniformity and low power consumption. “We are impressed with the Cree XLamp MX6 LED,” said Sunny Tsai, CEO of TESS, an innovative LED light bulb manufacturer. “The LED’s performance is striking, and Cree’s small bins make it easy for us to deliver a consistent product for our customers.” “With the addition of the XLamp MX6 LED, we now have the most diverse family of lightingclass LEDs in the industry,” said Paul Thieken, Cree marketing director, LED components. “The XLamp MX6 LED can provide better design options for indoor applications, including undercabinet, retail displays, LED light bulbs and fluorescent replacements.” The XLamp MX6 LED provides up to 130 lumens for cool white and 107 lumens for warm white at 350 mA. The XLamp MX6 LED can also reduce luminaire and lamp manufacturing costs through an increased shelf life with reduced moisture sensitivity, and the smallest warm white bins in the industry, enhancing LEDtoLED color consistency. XLamp MX6 LEDs are available through Cree distributors in a full range of white ANSI chromaticity bins. To locate a distributor, please visit http://www.cree.com/buyxlamp. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting, and semiconductor solutions for wireless and power applications. Cree’s product families include LED fixtures and bulbs, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com For product specifications and warranties, please refer to the applicable product data sheets and Cree’s sales terms and conditions available at www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may encounter delays or other difficulties in ramping up production of our new products; the possibility that actual savings may vary from expectations; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 28, 2009, and subsequent filings.

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Cree Reports Record Quarterly Revenue for the First Quarter of Fiscal Year 2010 Quarterly Revenue increased 20% yearoveryear to $169 Million DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, today announced record revenue of $169.1 million for its first quarter of fiscal 2010, ended September 27, 2009. This represents a 20% increase compared to revenue of $140.4 million reported for the first fiscal quarter last year and a 14% increase compared to the fourth quarter of fiscal 2009. GAAP net income for the first quarter increased 255% yearoveryear to $21.0 million, or $0.23 per diluted share, compared to GAAP net income of $5.9 million, or $0.07 per diluted share, for the first quarter of fiscal 2009. On a nonGAAP basis, net income for the first quarter of fiscal 2010 increased 107% yearoveryear to $27.4 million, or $0.30 per diluted share, compared to nonGAAP net income for the first quarter of fiscal 2009 of $13.2 million or $0.15 per diluted share. Cree generated $61.2 million of operating cash flow and $40.8 million of free cash flow (cash flow from operations less capital expenditures) during the first quarter. “We got off to a very good start in Q1, as both revenue and profits exceeded our targets,” stated Chuck Swoboda, Cree Chairman and CEO. “We are benefitting from continued LED lighting adoption and high factory utilization and are well positioned for solid growth in Q2. As a result of the recent equity offering, we have the balance sheet to invest in the growth of our business as we look to continue to lead the LED lighting revolution.” Q1 2010 Financial Metrics: * Cash and investments increased $441.2 million to $888.5 million, with cash flow from operations of $61.2 million and free cash flow of $40.8 million. * Accounts receivable (net) decreased $10.0 million from Q4 of fiscal 2009 to $93.1 million, resulting in days sales outstanding of 50, a decrease of 13 days from Q4 of fiscal 2009. * Inventory (net) increased $7.1 million from Q4 of fiscal 2009 to $86.0 million and represents 81 days of inventory, an increase of 2 days from Q4 of fiscal 2009. Recent Business Highlights: * Lighting for Tomorrow Grand Prize Winner with the LR6DR1000 recessed downlight. * Released the XLamp® XPG, the industry’s brightest and highestefficiency lightingclass LED. * Announced that Cree offers the most lightingclass LEDs for designing Energy Star® –compliant LED fixtures. * Completed a common stock offering of 12.65 million shares with net proceeds of $434.2 million. * Announced plans to add 575 green jobs in North Carolina by the end of 2012. Business Outlook: For its second quarter of fiscal 2010 ending December 27, 2009, Cree targets revenue in a range of $180 million to $190 million with GAAP net income of $21 million to $23 million, or $0.20 to $0.22 per diluted share. NonGAAP net income is targeted to increase quarteroverquarter to $29 million to $32 million, or $0.28 to $0.30 per diluted share, based on an estimated 105 million diluted weighted average shares, which includes 12.65 million shares issued in our recent equity offering. Targeted nonGAAP earnings exclude expenses related to the amortization of acquired intangibles of $0.02 per diluted share, and stockbased compensation expense of $0.06 per diluted share.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online Quarterly Conference Call: Cree will host a conference call at 5:00 p.m. Eastern time today to review the highlights of the fiscal first quarter 2010 results and the fiscal second quarter 2010 business outlook, including significant factors and assumptions underlying the targets noted above. The conference call will be available to the public through a live audio web broadcast via the Internet. Log on to Cree’s website at www.cree.com and go to “Investor Relations — Overview” for webcast details. The call will be archived and available on the website through November 3, 2009. Supplemental financial information, including the nonGAAP reconciliation attached to this press release, is available in the “Investor Relations” section of Cree’s website, under “Financial Metrics,” “Quarter ending September 27, 2009,” at www.cree.com. About Cree, Inc. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include LED fixtures and bulbs, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, electronic signs and signals, variablespeed motors and wireless communications. For additional product and company information, please refer to www.cree.com. NonGAAP Financial Measures: This press release highlights the company’s financial results on both a GAAP and a nonGAAP basis. The GAAP results include certain costs, charges, gains and losses which are excluded from nonGAAP results. By publishing the nonGAAP measures, management intends to provide investors with additional information to further analyze the company's performance, core results and underlying trends. Cree’s management evaluates results and makes operating decisions using both GAAP and nonGAAP measures included in this press release. NonGAAP results are not prepared in accordance with GAAP and nonGAAP information should be considered a supplement to, and not a substitute for, financial statements prepared in accordance with GAAP. Investors and potential investors are encouraged to review the reconciliation of nonGAAP financial measures to their most directly comparable GAAP measures attached to this press release. Forward Looking Statements: The schedules attached to this release are an integral part of the release. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results, including with respect to our targets and prospects, could differ materially due to a number of factors, including the risk that, due to the complexity of our manufacturing processes and transition of production to larger wafers, we may experience production delays that preclude us from shipping sufficient quantities to meet customer orders or that result in higher production costs and lower margins; ongoing uncertainty in global economic conditions that could negatively affect product demand, collectability of receivables and other related matters as consumers and businesses may defer purchases or payments, or default on payments, in response to tighter credit and negative financial news; our ability to complete development and commercialization of products under development, such as our pipeline of brighter LED chips, LED components and LED lighting retrofit

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online solutions; our ability to lower costs; increasing price competition in key markets; risks associated with the rampup of our production for our new products, as well as production at our Huizhou facility and subcontractors; risks resulting from the concentration of our business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for our products; risks associated with our recent acquisitions; risks associated with ongoing litigation; and other factors discussed in our filings with the Securities and Exchange Commission (SEC), including our report on Form 10K for the fiscal year ended June 28, 2009, and subsequent reports filed with the SEC. Except as required under the U.S. federal securities laws and the rules and regulations of the SEC, Cree disclaims any obligation to update any forwardlooking statements after the date of this release, whether as a result of new information, future events, developments, changes in assumptions or otherwise.

Cree Adding Green Jobs in North Carolina Company Expanding U.S. Manufacturing of LED Chips and LED Lighting Products DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces the expansion of its North Carolina manufacturing capacity and the addition of North Carolinabased green jobs as the market for energyefficient LED lighting continues to expand. Cree expects to add 275 North Carolina jobs during 2009 to serve the expansion of LED manufacturing capacity and other staffing needs at its Durham, N.C., facility. Cree anticipates creating an additional 300 jobs by the end of 2012. “Green jobs are a cornerstone of my vision for building a 21st century global economy in North Carolina,” Gov. Bev Perdue said. “This job announcement fits perfectly with my plan to grow a worldleading green economy in North Carolina that turns green into gold for decades to come.” Cree has also begun manufacturing and assembling LED lighting products with Flextronics in Mecklenburg County, N.C. Initial products made in this facility are the ENERGY STAR®qualified LR6 recessed LED downlight and awardwinning LR24 LED troffer replacement. “We are seeing tremendous growth for LED lighting,” said Cree CEO Chuck Swoboda. “Energyefficient lighting has its roots right here in North Carolina, and Cree is proud to be bringing more green jobs to our state.” Cree’s industryleading line of LED lights, including recessed downlights and troffer replacements, began North Carolina production in August 2009. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include LED fixtures and bulbs, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, electronic signs and signals, variablespeed motors and wireless communications. For additional product and company information, please refer to www.CreeLEDLighting.com

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 28, 2009, and subsequent filings.

Cree Raises the Bar for LightingClass LEDs with Commercial Availability of the XLamp XPG LED Single LED Delivers Up to 367 Lumens at 111 Lumens per Watt DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces the commercial availability of the XLamp® XPG LED, the industry’s brightest and most efficient lightingclass LED. The XPG LED can produce up to 367 lumens when driven at 1A, at a typical efficacy of 111 lumens per watt; making it 46 percent brighter and 64 percent more efficient than the highestperformance XRE LED, with an 80 percent smaller footprint. “Cree’s XLamp XPG cool white LEDs set a new standard for LED performance,” said David Chow, president, 4Sevens, LLC. “For our flashlights, the XLamp XPG LED was a clear choice because of its high lumen output, unmatched efficacy and compact package size.” This level of performance can potentially reduce the required number of LEDs, as well as the size and cost of LED fixtures. High efficacy at lower current (up to 132 lm/W typical at 350 mA) can lower the total power requirement for a portable or solar lighting application, which can reduce the amount of solar cells or batteries needed. “This establishes a new level of performance for LEDs,” said Paul Thieken, Cree director of marketing, LED components. “We now deliver lightingclass efficacy at 1A drive current. In addition, we have begun offering limited samples of an S2 flux bin, providing up to 400 lumens at 1A. We target availability of XPG neutral and warm white LED samples by end of calendar 2009.” XPG LEDs extend the leadership of Cree’s lightingclass LED family, giving lighting designers a wide range of price and performance options that all share a common package footprint. The cool white XPG LED is available now with order codes up to 139 lumens minimum at 350 mA and ANSIcompliant cool white bins (5000K – 8300K CCT) through the Cree distribution network (www.cree.com/buyxlamp). About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting, and semiconductor solutions for wireless and power applications. Cree’s product families include LED fixtures and bulbs, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may encounter delays or other difficulties in ramping up production of our new products; the possibility that actual savings may vary from expectations; the rapid development of new

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 28, 2009, and subsequent filings.

Web Release: Cree Announces Strategic Relationship with China Electric DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces that it has entered into a strategic relationship with China Electric Manufacturing Corporation of Taiwan. “Cree is pleased to be working with China Electric to advance the LED lighting market using highquality lightingclass LEDs,” said Bob Pollock, Cree senior vice president of sales. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting, and semiconductor solutions for wireless and power applications. Cree’s product families include LED fixtures and bulbs, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 28, 2009, and subsequent filings.

Cree Boasts the Most LightingClass LEDs for Designing ENERGY STAR®Compliant LED Fixtures DURHAM, N.C. Cree, Inc. (Nasdaq: CREE) has the most lightingclass LEDs meeting the stringent U.S. Department of Energy (DOE) ENERGY STAR® performance criteria, offering fixture manufacturers a significant benefit when designing with XLamp® XRE, XPE or MCE white LEDs. The DOE’s “ENERGY STAR Manufacturer’s Guide for Qualifying SolidState Lighting Luminaires” requires that LED fixture manufacturers seeking ENERGY STAR Category A approval test their luminaires for a minimum of 6,000 hours (approximately nine months) to demonstrate the product’s longterm lumen maintenance. In lieu of performing this lengthy and costly testing, the DOE will accept an LED manufacturer’s lumen maintenance data if the LEDs are tested to the Illuminating Engineering Society (IES) approved method for “Measuring Lumen Maintenance of LED Light Sources,” LM8008. The DOE accepts Cree’s IES LM80 test data for the Cree XLamp XRE, XPE and MCE LEDs. This LM80 test data can be submitted by luminaire manufacturers (along with the appropriate LM79 optical and electrical data) to the DOE for ENERGY STAR approval of both 25,000hour residential and 35,000hour commercial lighting products.

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online “Cree has the broadest family of lightingclass LEDs accepted by the DOE for use in ENERGY STAR products,” said Paul Thieken, Cree director of marketing, LED components. “Our customers can avoid expensive and prolonged fixture testing by designingin XLamp XRE, XPE or MCE LEDs. Cree XLamp LEDs were also the first to be binned to ANSI C78.377A chromaticity back in 2007 and feature excellent whitepoint stability—further simplifying the design of LED fixtures to meet ENERGY STAR requirements.” Further information on Cree’s LM80 testing methodology can be found in the recently published Lumen Maintenance Application Note, available at www.cree.com/LM80. In addition, Cree’s lightingclass XLamp XP LEDs became ULrecognized on August 4, 2009 (registration file OOQA2.E326295). Due to the glass lens, Cree’s XLamp XR family and MCE LEDs, are considered enclosures by UL and do not require registration. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting, and semiconductor solutions for wireless and power applications. Cree’s product families include LED fixtures and bulbs, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com The testing results do not constitute a warranty. For product specifications and warranties, please refer to the applicable product data sheets and Cree’s sales terms and conditions available at www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 28, 2009, and subsequent filings. ENERGY STAR is a registered trademark of the U.S. Environmental Protection Agency.

Apecchio Joins Cree LED City® Program Apecchio becomes second Italian city to implement energyefficient LED lighting AECCHIO, ITALY Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces that Apecchio, is the second Italian city to join the LED City® program, an international initiative aimed at promoting the deployment of energyefficient LED (lightemitting diode). Following its switch to environmentallyfriendly LED lighting, Apecchio is saving on energy and maintenance costs, as well as improving safety for citizens with better quality lighting. Last May, Apecchio completed the first tests on LEDlit streetlights to assess energy efficiency and lighting quality, in order to comply with a regulation regarding lighting pollution. Replacing existing fluorescent lamps in parking indicator lights and streetlights with highlyefficient LITEK PROLED fixtures, featuring Cree XLamp® LEDs lights, helped to reduce energy consumption by 65 percent, with an estimated 70 percent savings in energy costs.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online “We are glad to be part of this project. We are committed to promoting the power of LED technology in streetlighting, as well as other functional indoor and outdoor applications,” said Fabio Facchini, general manager of LITEK. “Apecchio is a successful example both for the city itself and for other municipalities that are keen on saving energy and money.” “We welcome Apecchio into the LED City program and applaud its efforts to make energy efficiency a priority for its community,” said Deb Lovig, Cree LED programs manager. “We congratulate the city Council and the community for taking a bold step in achieving significant energy savings, especially given the growing global need to conserve energy.” About LED City The LED City is an expanding community of government and industry parties working to evaluate deploy and promote LED lighting technology across the full range of municipal infrastructure to: * Save energy * Protect the environment * Reduce maintenance costs * Provide better light quality for improved visibility and safety According to the U.S. Department of Energy, 22 percent of electricity used in the U.S. powers lighting. In a world with soaring energy prices based on the availability and control of fossil fuels, and with growing concern about sustainability of the environment, a revolution in lighting is long overdue. Participants include Torraca, Italy; Toronto and Welland, Ontario; Tianjian, China, Gwangju, South Korea; and the United States cities of Fairview, Texas; Raleigh and Chapel Hill, N.C.; Ann Arbor, Mich.; Austin, Texas; Anchorage, Ala., and India Wells, Calif. About Apecchio, Italy The city of Apecchio lies in the central region of Italy and is under the jurisdiction of the Pesaro Province which is one of the oldest provinces in Continental Europe. It has the characteristics of an ancient village with medieval ruins, a fossil museum, an ancient bridge end the lovely residence of the Count of Ubaldini, now the Council headquarters. he city is surrounded by many mountain ranges and dense forests. The population of the city is approximately of 2100 inhabitants. For more information on Apecchio please visit: www.comune.apecchio.ps.it About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting, and semiconductor solutions for wireless and power applications. Cree’s product families include LED fixtures and bulbs, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as the risk we may encounter delays or other difficulties in ramping up production of our new products; the risk we may be unable to manufacture these products with sufficiently low cost to offer them at

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online competitive prices or with acceptable margins; the potential lack of customer acceptance of the products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 28, 2009, and subsequent filings.

Cree Announces Exercise of Underwriters’ Overallotment Option DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), today announced that the underwriters of its recent public offering of common stock have fully exercised their overallotment option resulting in the issuance of an additional 1,650,000 shares. The option was granted in connection with the public offering of 11,000,000 shares of common stock at a public offering price of $35.50 per share, which closed on September 16, 2009. The exercise of the overallotment option brings the expected total net proceeds of the public offering to $434.1 million, after deducting offering expenses and underwriting discounts and commissions payable by Cree. Cree intends to use the proceeds from the offering for anticipated capital expenditures of approximately $150 million in fiscal year 2010 and additional future capital expenditure needs with the remainder being used for general corporate purposes, including working capital and potential strategic investments. J.P. Morgan Securities Inc. was the sole bookrunning manager for the offering, BofA Merrill Lynch was the lead manager, and Piper Jaffray, Morgan Keegan, Oppenheimer and America’s Growth Capital acted as comanagers. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This offering has been conducted solely by means of a prospectus supplement and the accompanying base prospectus. A copy of the final prospectus supplement and accompanying prospectus relating to the offering of common stock can be obtained by contacting J.P. Morgan Securities Inc., National Statement Processing, Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, (718) 2428002. An effective registration statement relating to these securities has been filed with the Securities and Exchange Commission. About Cree, Inc. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include LED fixtures and bulbs, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. Forward Looking Statements: This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results, including with respect to our targets and prospects, could differ materially due to a number of factors, including current uncertainty in global economic conditions that could negatively affect product demand, collectability of receivables and other related matters as consumers and businesses may defer purchases or payments, or default on payments, in response to tighter credit and negative financial news; our ability to complete development and commercialization of products under development, such as our pipeline of brighter LED chips, LED components and LED lighting retrofit solutions;

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online our ability to lower costs; increasing price competition in key markets; the risk that, due to the complexity of our manufacturing processes and transition of production to larger wafers, we may experience production delays that preclude us from shipping sufficient quantities to meet customer orders or that result in higher production costs and lower margins; risks associated with the rampup of our production for our new products, as well as production at our Huizhou facility and subcontractors; risks resulting from the concentration of our business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for our products; risks associated with our recent acquisitions; risks associated with ongoing litigation; and other factors discussed in our filings with the Securities and Exchange Commission (SEC), including our report on Form 10K for the fiscal year ended June 28, 2009, and subsequent reports filed with the SEC. Except as required under the U.S. federal securities laws and the rules and regulations of the SEC, Cree disclaims any obligation to update any forwardlooking statements after the date of this release, whether as a result of new information, future events, developments, changes in assumptions or otherwise.

Cree Repeats as Lighting for Tomorrow Grand Prize Winner LR6DR1000 expected to accelerate commercial adoption of SSL downlights DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces that it won the top prize in the 2009 Lighting for Tomorrow – Solid State Lighting Competition. The Cree LR6DR1000 recessed downlight was awarded the coveted Grand Prize at an award ceremony at the American Lighting Association (ALA) Conference this week. The Cree LRP38, a PAR38 bulb, and the LR6HE (highefficiency) were also recognized with Special Focus Awards for technical innovation and high efficiency, respectively. The Grand Prizewinning Cree LR6DR1000 is a highoutput sixinch downlight that produces more than 1000 lumens of light output. Targeted for commercial release early next year, the LR6DR1000 is designed to operate off an input power of less than 13 Watts, delivering an efficacy in excess of 77 lumens per Watt which makes it the most efficient, specificationgrade LED downlight. The winner of the technical innovation award, the LRP38 bulb features Cree TrueWhite™ technology to deliver the vibrant color of halogen with high efficacy. Released in May 2009, the LRP38 is replacing halogen and ceramic metal halide (CMH) lamps in numerous applications including fresh food displays, furniture stores, retail environments and museums. This international design competition is organized by the ALA, the U.S. Department of Energy (represented by Pacific Northwest National Laboratory) and the Consortium of Energy Efficiency. A panel of 11 judges from various areas of the lighting industry evaluated the entries based on color appearance, color rendering, efficiency, innovation and other criteria. “Cree is lighting the LED revolution with breakthrough products that redefine energyefficient illumination,” said Gary Trott, vice president of market development, Cree LED Lighting. “Over the past three years, every Cree LED Lighting product has won a Lighting for Tomorrow award.” About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include LED fixtures and bulbs, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online improvements in applications such as general illumination, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.CreeLEDLighting.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may be unable to release commercial products with features comparable to the development results described above; the risk we may be unable to manufacture products with sufficiently low cost to offer them at competitive prices or with acceptable margins; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 28, 2009, and subsequent filings.

Cree Prices Common Stock Offering DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), today announced that the public offering of 11,000,000 shares of its common stock has priced at $35.50 per share for gross proceeds of $390.5 million. The offering includes a 30day option for the underwriters to purchase up to 1,650,000 additional shares to cover overallotments, if any. Cree is conducting the offering pursuant to an effective registration statement under the Securities Act of 1933. The offering is expected to be completed on September 16, 2009, subject to customary closing conditions. Cree intends to use the proceeds from the offering for anticipated capital expenditures of approximately $150 million in fiscal year 2010 and additional future capital expenditure needs with the remainder being used for general corporate purposes, including working capital and potential strategic investments. J.P. Morgan Securities Inc. was the sole bookrunning manager for the offering, BofA Merrill Lynch was the lead manager, and Piper Jaffray, Morgan Keegan, Oppenheimer and America’s Growth Capital acted as comanagers. The offering is being made solely by means of a prospectus supplement and accompanying prospectus. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. A copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering of common stock can be obtained by contacting J.P. Morgan Securities Inc., National Statement Processing, Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, (718) 2428002. Potential investors should first read the prospectus supplement and accompanying prospectus, the registration statement and the other documents that Cree has filed with the Securities and Exchange Commission in connection with the offering. Investors may obtain these documents free of charge by visiting the SEC’s website at www.sec.gov. About Cree, Inc. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include LED fixtures and bulbs, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications.

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online Forward Looking Statements: This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results, including with respect to our targets and prospects, could differ materially due to a number of factors, including current uncertainty in global economic conditions that could negatively affect product demand, collectability of receivables and other related matters as consumers and businesses may defer purchases or payments, or default on payments, in response to tighter credit and negative financial news; our ability to complete development and commercialization of products under development, such as our pipeline of brighter LED chips, LED components and LED lighting retrofit solutions; our ability to lower costs; increasing price competition in key markets; the risk that, due to the complexity of our manufacturing processes and transition of production to larger wafers, we may experience production delays that preclude us from shipping sufficient quantities to meet customer orders or that result in higher production costs and lower margins; risks associated with the rampup of our production for our new products, as well as production at our Huizhou facility and subcontractors; risks resulting from the concentration of our business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for our products; risks associated with our recent acquisitions; risks associated with ongoing litigation; and other factors discussed in our filings with the Securities and Exchange Commission (SEC), including our report on Form 10K for the fiscal year ended June 28, 2009, and subsequent reports filed with the SEC. Except as required under the U.S. federal securities laws and the rules and regulations of the SEC, Cree disclaims any obligation to update any forwardlooking statements after the date of this release, whether as a result of new information, future events, developments, changes in assumptions or otherwise.

Designs Featuring Cree GaN HEMT Sweep Competition at 2009 IEEE/MTTS International Microwave Symposium For the third consecutive year, an amplifier using the Cree, Inc. (Nasdaq: CREE) CGH40010 GaN HEMT transistor won the best power amplifier competition at the 2009 IEEE/MTTS International Microwave Symposium. David YuTing Wu, representing the University of Waterloo, received the award for best performance amplifier designed and demonstrated as judged on efficiency, power and frequency of operation. Wu’s Inverse ClassF amplifier was designed using Cree’s proprietary nonlinear GaN HEMT model. The accuracy of the model in precisely predicting the required impedance conditions for highefficiency operation was instrumental in achieving firstpass design success. The winning 3.27 GHz amplifier produced 7.1 watts of RF output power at a power added efficiency (PAE) of 71%. The second and thirdplace student teams also used the CGH40010 in Inverse ClassF circuit architectures. They were, respectively, Paul Saad, Hossein Mashad Nemati and Mattias Thorsell from Chalmers University of Technology, Sweden, and Junghwan Moon and Jungjoon Kim from Pohang University of Science and Technology (POSTECH), Korea. “This is a hat trick, of sorts, for Cree,” said Jim Milligan, Cree director of RF and Microwave products. “It’s exciting for us to see the next generation of engineers creating innovative designs based on our industryleading technology. Cree congratulates the students for their efforts and wishes them continued success.” About Cree Cree is a marketleading innovator of semiconductor solutions for wireless and power applications, lightingclass LEDs, and LED lighting solutions.

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online Cree’s product families include powerswitching devices and radiofrequency/wireless devices, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, and LED fixtures and bulbs. Cree solutions are driving improvements in applications such as variablespeed motors, wireless communications, general illumination, backlighting and electronic signs and signals.

Cree Reports Record Revenue for the Fourth Quarter and Fiscal Year 2009 Annual Revenue Increased 15% to $567 Million DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, today announced record revenue of $148.1 million for its fourth quarter of fiscal 2009, ended June 28, 2009. This represents a 9% increase compared to revenue of $135.9 million reported for the fourth fiscal quarter last year and a 13% increase compared to the fiscal third quarter of 2009. GAAP net income for the fourth quarter was $9.7 million, or $0.11 per diluted share, compared to GAAP net income of $8.4 million, or $0.09 per diluted share, for the fourth quarter of fiscal 2008. On a nonGAAP basis, net income for the fourth quarter of fiscal 2009 was $16.3 million, or $0.18 per diluted share, compared to nonGAAP net income for the fourth quarter of fiscal 2008 of $14.5 million or $0.16 per diluted share. Cree generated $43.0 million of operating cash flow and $28.3 million of free cash flow (cash flow from operations less capital expenditures) during the fourth quarter. For fiscal year 2009, Cree reported revenue of $567.3 million, which represents a 15% increase compared to revenue of $493.3 million for fiscal 2008. GAAP net income was $30.3 million, or $0.34 per diluted share, compared to $33.4 million, or $0.38 per diluted share for fiscal 2008. GAAP net income for fiscal 2008 included a benefit of $0.12 per diluted share related to a gain on the sale of investments. On a nonGAAP basis, net income for fiscal year 2009 was $59.2 million, or $0.66 per diluted share, compared to $47.2 million, or $0.54 per diluted share, for fiscal 2008. Cree generated $177.9 million of operating cash flow and $122.6 million of free cash flow during fiscal 2009. "Our strong Q4 results were an outstanding finish to a very good year and reflect the success of our strategy to drive growth in LEDs and LED lighting applications,‖ stated Chuck Swoboda, Cree chairman and CEO. ―Entering fiscal 2010, our Q1 backlog is very strong as we see growing demand across our LED product lines. We are well positioned to benefit from the worldwide growth in LED lighting. As such, we continue to invest in the new products, channels and technical support needed to accelerate the LED lighting revolution." Recent Business Highlights: * Introduced the LRP38, the revolutionary PAR38 LED bulb that delivers the same vibrant color as halogen with 75 percent less energy. * Announced that Chuck Swoboda, Cree chairman and CEO, joined President Obama at the White House to discuss innovation and the latest developments in energyefficient technologies. * Announced that North Carolina’s first ecofriendly McDonald’s is 97% lit with LEDs, and includes Cree’s entire line of LED fixtures and lamps. * Welcomed Fairview, Texas, and Gwangju, South Korea, to the LED City® Program. * Demonstrated the XLamp® XPG, the industry’s brightest and highestefficiency lightingclass LED. Q4 2009 Financial Metrics:

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online * Cash and investments increased $42.3 million to $447.2 million, with cash flow from operations of $43.0 million and free cash flow of $28.3 million. * Accounts receivable (net) increased $0.1 million from Q3 of fiscal 2009 to $103.0 million, resulting in days sales outstanding of 63, a decrease of 8 days from Q3 of fiscal 2009. * Inventory (net) increased $1.3 million from Q3 of fiscal 2009 to $78.8 million and represents 79 days of inventory, a decrease of 4 days from Q3 of fiscal 2009. Business Outlook: For its first quarter of fiscal 2010 ending September 27, 2009, Cree targets revenue in a range of $160 million to $166 million with GAAP earnings of $0.14 to $0.16 per diluted share and nonGAAP earnings of $0.21 to $0.23 per diluted share, based on an estimated 91 million diluted weighted average shares. Targeted nonGAAP earnings exclude expenses related to the amortization of acquired intangibles of $0.02 per diluted share, and stockbased compensation expense of $0.05 per diluted share. Quarterly Conference Call: Cree will host a conference call at 5:00 p.m. Eastern time today to review the highlights of the fiscal fourth quarter 2009 results and the fiscal first quarter 2010 business outlook, including significant factors and assumptions underlying the targets noted above. The conference call will be available to the public through a live audio web broadcast via the Internet. Log on to Cree’s website at www.cree.com and go to "Investor Relations — Overview" for webcast details. The call will be archived and available on the website through August 25, 2009. Supplemental financial information, including the nonGAAP reconciliation attached to this press release, is available in the "Investor Relations" section of Cree’s website, under "Financial Metrics," "Quarter ending June 28, 2009," at www.cree.com. About Cree, Inc. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, lightingclass power LEDs, highbrightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com. NonGAAP Financial Measures: This press release highlights the company’s financial results on both a GAAP and a nonGAAP basis. The GAAP results include certain costs, charges, gains and losses that are excluded from nonGAAP results. By publishing the nonGAAP measures, management intends to provide investors with additional information to further analyze the company's performance, core results and underlying trends. Cree’s management evaluates results and makes operating decisions using both GAAP and nonGAAP measures included in this press release. NonGAAP results are not prepared in accordance with GAAP, and nonGAAP information should be considered a supplement to, and not a substitute for, financial statements prepared in accordance with GAAP. Investors and potential investors are encouraged to review the reconciliation of nonGAAP financial measures to their most directly comparable GAAP measures attached to this press release.

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online Forward Looking Statements: The schedules attached to this release are an integral part of the release. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results, including with respect to our targets and prospects, could differ materially due to a number of factors, including current uncertainty in global economic conditions that could negatively affect product demand, collectability of receivables and other related matters as consumers and businesses may defer purchases or payments, or default on payments, in response to tighter credit and negative financial news; our ability to complete development and commercialization of products under development, such as our pipeline of brighter LED chips, LED components and LED lighting retrofit solutions; our ability to lower costs; increasing price competition in key markets; the risk that, due to the complexity of our manufacturing processes and transition of production to larger wafers, we may experience production delays that preclude us from shipping sufficient quantities to meet customer orders or that result in higher production costs and lower margins; risks associated with the rampup of our production for our new products, as well as production at our Huizhou facility and subcontractors; risks resulting from the concentration of our business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for our products; risks associated with our recent acquisitions; risks associated with ongoing litigation; and other factors discussed in our filings with the Securities and Exchange Commission (SEC), including our report on Form 10K for the fiscal year ended June 29, 2008, and subsequent reports filed with the SEC. Except as required under the U.S. federal securities laws and the rules and regulations of the SEC, Cree disclaims any obligation to update any forwardlooking statements after the date of this release, whether as a result of new information, future events, developments, changes in assumptions or otherwise.

Cree, Inc. to Webcast Upcoming Conference Presentations DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, today announced it will webcast its presentation at two upcoming conferences. John Kurtzweil, executive vice president and chief financial officer, will provide a company overview at the following conferences: * The Morgan Keegan 2009 Technology Conference on Wednesday, August 12, at 10:45 a.m. EDT. * The Citi Investment Research 2009 Global Technology Conference on Thursday, September 10, at 9:50 a.m. EDT. A webcast of each presentation will be available live and by replay. To access both the live and archived webcasts, as well as the slide presentation used during the conference, please go to www.cree.com and click on the Investor Relations link . The archived replays will be available 24 hours after the live presentation and will be accessible for two weeks. About Cree, Inc. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications.

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Cree, Inc. to Announce Fiscal 2009 Fourth Quarter and Full Year Earnings on August 11 DURHAM, N.C. Cree Inc. (Nasdaq: CREE) announces the following Webcast: What: Cree, Inc.'s Q4 and Fiscal 2009 Full Year Conference Call When: August 11, 2009 @ 5:00 PM Eastern Where: http://www.videonewswire.com/event.asp?id=60704

Fairview, Texas, Joins Cree LED City® Program First town in Texas to build a street exclusively with LED lighting FAIRVIEW, TEXAS Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces that Fairview, Texas, has joined the LED City® initiative, an international program that promotes the deployment of energyefficient LED lighting. The newly constructed, fourlane Fairview Parkway, designed specifically to be lit with LEDs, features 82 LED street lights from EvoLucia, a division of Sunovia Energy Technologies, Inc. “Fairview is proud to join the LED City initiative with the opening of the first new street in Texas lit entirely by LED street lights,” said Mayor Sim Israeloff. “The quality of light is superior even to what we anticipated and is far better than what could have been provided by traditional lighting. In addition to better light quality, the town can reduce maintenance costs, improve safety, practically eliminate light pollution and dramatically reduce energy consumption.” The Sunovia fixtures, designed with Cree XLamp® MCE LEDs, are designed to last an average of 12 years, depending on use, with a 50percent electricalenergy cost savings in comparison to traditional metalhalide lights. According to Mayor Israeloff, Fairview taxpayers will benefit from $250,000 the city will save due to lower energy and maintenance costs over the anticipated lifetime of the LED lights. Switching to LEDs could reduce the town’s carbon emissions by 1,000 pounds per year, as compared with the highintensity discharge fixtures initially planned for the new roadway. Additionally, the street lights feature advanced optics that, coupled with the directional capabilities of the LEDs, allow light to be aimed exactly where it is needed. This provides an incredibly even illumination of the street, eliminating dark spots and unwanted light pollution. Following the success of the Fairview Parkway LED transformation, the town plans to install more energyefficient LED fixtures at the new Fairview Fire Station later in the year and in the new town hall in mid2010. Installing LED lighting is just one of the many ways the town of Fairview is doing its part to become the most environmentally friendly small town in Texas. The town strongly enforces green building ordinances for both residential and commercial construction, including: treepreservation guidelines, protections for greenbelts and floodplains, openspace and park dedication, and the use of modern aerobic septic systems that do not add volume to sewage treatment plants. In addition to using solarcharged storm warning sirens, Fairview is investigating solarpowered irrigation and vegetation waterfiltration systems. “Fairview’s initial venture into LED street lighting was driven by Fairview’s aggressive stance on darkskies compliance, and switching to LEDs serves as a great complement to the town’s ongoing ecofriendly initiatives,” said Deb Lovig, Cree LED programs manager. “Significant energy and maintenance cost savings are great added benefits to doing the right thing for the environment.”

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online About LED City The LED City is an expanding community of government and industry parties working toevaluate, deploy and promote LED lighting technology across the full range of municipal infrastructure to: * Save energy * Protect the environment * Reduce maintenance costs * Provide better light quality for improved visibility and safety. According to the U.S. Department of Energy, 22 percent of electricity used in the U.S. powers lighting. In a world with soaring energy prices based on the availability and control of fossil fuels, and with growing concern about sustainability of the environment, a revolution in lighting is long overdue. Participants include Raleigh, N.C.; Ann Arbor, Mich.; Austin, Texas; Anchorage, Ala.; Tianjian, China; Torraca, Italy; Toronto and Welland, Ontario; Indian Wells, Calif.; Chapel Hill, NC and Gwangju, South Korea. About Fairview, Texas Fairview, Texas, is located in the DallasFort Worth metro area and is one of the bestkept secrets of Collin County. While the town motto is “Keeping It Country,” the town still maintains the best of both worlds upscale living in a beautiful, rural atmosphere, while being just minutes away from fine shopping and dining throughout the metro area. Fairview is home to a new 800+ acre master planned, mixeduse development site, with two miles of frontage on North Central Expressway (US 75) between Allen and McKinney. Additional information can be found at www.fairviewtexas.org . About Cree Cree is lighting the LED revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting, and semiconductor solutions for wireless and power applications. Cree’s product families include LED fixtures and bulbs, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors such as the possibility that actual savings may vary from expectations; the potential lack of customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Gwangju Joins Cree LED City® Program The City of Light Is First City in South Korea to Join International Program GWANGJU, SOUTH KOREA Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces that Gwangju, South Korea, is the first city in South Korea to join the LED City® initiative, an international program that promotes the deployment of energyefficient LED lighting. Gwangju, South Korea’s center for the advancement of

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online photonics, is home to 180 companies that were formed to research, develop and commercialize LED lighting products. A wide variety of LED light fixtures illuminate the Kimdeajung Convention Center, World Photonics EXPO 2009, KEMCO Honam Energy & Climate Change Center, and the Gwangju Metropolitan City underground parking lot. By replacing fixtures from parking indicator lights to streetlights, the city calculates that the highlyefficient LED lights are expected to use approximately 30 percent less energy than current fluorescent lamps, which could save the city up to 234,000 kWh and reduce carbon emissions by as much as 8,465 kg annually. Gwangju will highlight its LED lighting installations and participation in the LED City program when it hosts the World Photonics Expo later this year from October 9 to November 5. Expo participants and visitors will be encouraged to visit LED lighting sites to experience this new, energyefficient technology firsthand and to learn more about deploying LED lighting in their own cities. “We are excited to showcase LED lighting throughout our city,” said Mayor Park KwangTae. “A tremendous amount of investment and effort has been put toward various photonics industry technologies locally, and we are proud to demonstrate the energy and maintenance cost savings that can be gained with LED lighting. Through our participation in the LED City program we hope to help other cities throughout the world adopt LED lighting and to draw attention to the highquality LED lighting products produced here in South Korea.” “It is especially satisfying to see our LED lighting products being installed here for the benefit of our fellow citizens,” said Dr. EunYoung Yu, president of Korea Photonics Technology Institute. “For the last eight years, we have worked to develop the highest quality LED lights. Our goal is to bring this highly energy efficient and lowmaintenance technology to neighborhoods, offices, schools and public places throughout South Korea.” About LED City The LED City is an expanding community of government and industry parties working to evaluate, deploy and promote LED lighting technology across the full range of municipal infrastructure to: * Save energy * Protect the environment * Reduce maintenance costs * Provide better light quality for improved visibility and safety. According to the U.S. Department of Energy, approximately 20 percent of electricity used in the world powers lighting. In a world with soaring energy prices based on the availability and control of fossil fuels, and with growing concern about sustainability of the environment, a revolution in lighting is long overdue. Participants include Raleigh, NC; Ann Arbor, MI; Austin, TX; Anchorage, AK; Tianjian, China; Torraca, Italy; Toronto and Welland, ON; Indian Wells, CA. About Gwangju, South Korea Gwangju is the leading city of South Korea’s Honam region, with the entire nation within a day's reach. The emerging importance of Korea’s western coastline and the government’s effort to balance growth across the nation have triggered largescale urban development projects such as the construction of the Gwangju hitech industrial complex, transformation of Gwangju into a center of production, and improvement of housing and leisure facilities. The photonics industry in Gwangju has grown since 2000 with governmental support. Twelve R&D institutes and organizations have been created with 180 companies and organizations working on the development and manufacture of optical communication components, light sources including LED technology, and optical precision devices. By focusing on optical communication components and LED industries, the city aims to be among the world’s top five photonics clusters by 2010. Additional information can be found at www.gjcity.net .

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online About Cree Cree is lighting the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include LED fixtures and bulbs, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors such as the possibility that actual energy saving may vary from expectations; the potential lack of customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

North Carolina’s First EcoFriendly McDonald’s Lit with Cree LED Lights Restaurant Opens with LEED Certification Goal DURHAM, N.C. A new, more energyefficient McDonald’s is now open in the Saltbox Village shopping center in Cary, N.C. Featuring LED lighting from Durhambased Cree, Inc. (Nasdaq: CREE), the new building is ontrack to be the first LEED (Leadership in Energy and Environmental Design) certified McDonald’s in the state. The site’s original McDonald’s restaurant was demolished in early 2009 and rebuilt specifically to achieve LEED certification from the U.S. Green Building Council. Ric Richards, franchise owner/operator, hopes to be LEEDgoldcertified by October. The store is lit 97 percent with LED lights, and when compared to the standard lighting packages, this store consumes 78percent less electricity for lighting. “My efforts in building this store are twofold – to be economically sound with energyefficient methods and, at the same time, to provide a modern space for the enjoyment of customers,” Richards explained. “Cree’s LED lighting products are an important element in our ability to reach our energyefficiency targets.” The Cary McDonald’s uses a fully automated, intelligent lightingcontrol system that combines light from highefficiency Cree LED lighting and daylighting from Solatube skylights with a photo sensor to maintain the proper light levels on work surfaces. For example, if it rains and the daylighting is reduced, the LED light levels are increased to compensate. The dimming capability of LED lighting provides the flexibility needed for this system to work effectively. Cree’s LED products are featured throughout the restaurant, including dining areas, kitchen, hallways and restrooms, as well as the drivethru and entryways. “By seeking LEEDgold certification, this McDonald’s demonstrates the importance of LED lighting as a crucial component for green building,” said Neal Hunter, president, Cree LED Lighting. “The full line of Cree LED lights is in

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online use in this building, from our recessed downlights to our new LED bulb. The benefits of energyefficiency and highquality lighting make Cree LEDs a costeffective option for retailers and businesses.” Other features of the green design include LED lights in the parking lot, front counters made of recycled glass and concrete, a parking lot that utilizes recycled concrete as well as reuse of the restaurant’s original ENERGY STARrated equipment. The building uses water conservation measures such as lowflow toilets and landscaping consisting of native and adaptive plants and trees requiring little or no irrigation, which Richards expects will allow the restaurant to save 550,000 gallons of water annually. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.CreeLEDlighting.com .

Cree Releases New Line of Advanced ZRec™ SiliconCarbide Power Diodes DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), the market leader in Silicon Carbide (SiC) power products, announces availability of its worldclass 600V SiC Junction Barrier Schottky (JBS) diodes. The new ZRec™ diodes provide improved device power efficiency and enhanced surge current capability, allowing system optimization for performance and cost in power conversion applications ranging from 250W to 1500W. Primarily used for boost diode applications in power factor correction (PFC) circuits, ZRec SiC JBS diodes, through their inherent lack of reverserecovery currents, will reduce ACDC power supply losses by up to 10 percent versus silicon fastrecovery diodes. Zero reverserecovery current has been an advantage for Cree’s SiCdiode customers, enabling switchmode power supplies to reach and exceed ENERGY STAR®, 80plus certification levels. The new ZRec devices add to already impressive SiCdiode power savings through device junction capacitance values, which are up to 10 percent lower than Cree’s firstgeneration devices. The lower junction capacitance reduces switching losses and extends the power savings to systems operating at higher switching frequencies. Each new device, of a given current rating, maintains the low Vf (<1.8V) of previous Cree SiC diodes at rated current and temperature, resulting in no compromise in conduction losses. The ability to sustain repetitive and nonrepetitive surge currents has long been a limitation when designingin SiC JBS diodes. Earlygeneration SiC diodes often required the designer to choose a device with a higherthanrequired current rating to assure robust and reliable operation under potential surge conditions. Cree’s advancements in SiC powerdevice structures and design allow the new ZRec diodes to provide optimal efficiency with use of the minimumrequired currentrated device. ZRec diode’s performance and application cost advantages support “green” energy efficiency in an expanding number of powersupply designs for server, PC, communications, industrial and consumer switchmode power supplies.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online “SiC power diodes are rapidly becoming a standard component, replacing their silicon predecessors for applications in which efficiency, switching speed and reliability are prerequisites. Cree’s leadership in SiC materials technology and SiC powerdevice design provide powersystem designers the best zerorecovery diode on the market today,” said Dr. Cengiz Balkas, Cree vice president and general manager, power and RF. ZRec 600V devices are available in 2, 3, 4, 6, 8, 10 and 20 amp ratings in TO2202, TO2202 fully molded (FullPack), TO2473, TO2522 (DPak), and TO2632 (D2Pak) packages. All ZRec devices are RoHS, REACH, and HalogenFreecompliant. Samples and production quantities are now available with standard lead times (with 3A devices available after July 2009). Product specifications, reliability and quality data, environmental compliance documentation, technical literature, and a PFC reference design are available on the Cree Power web page: www.cree.com/power. For more information or to order samples visit: www.cree.com/power, email powersales@cree.com, or find a local distributor at http://www.cree.com/products/power_distr.asp. About Cree Cree is a marketleading innovator of semiconductor solutions for wireless and power applications, lightingclass LEDs, and LED lighting solutions. Cree’s product families include powerswitching devices, radiofrequency/wireless devices, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, and LED fixtures and bulbs. Cree solutions are driving improvements in applications such as PFC circuits, variablespeed motors, wireless communications, general illumination, backlighting and electronic signs and signals. For additional product and company information, please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may encounter delays or other difficulties in ramping up production of our new products; the possibility that actual energy savings may vary from expectations; the potential lack of customer acceptance of the products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree CEO Meets President Obama to Discuss Advantages of LED Lighting Chuck Swoboda Participates in Presidential Roundtable on American Innovation and Clean Energy Technology WASHINGTON, D.C. Today, Chuck Swoboda, chairman and chief executive officer of Cree (Nasdaq: CREE) joined President Obama at the White House to discuss the latest developments in energyefficient technologies. Cree, based in Durham, North Carolina, is a marketleading manufacturer of LED (lightemitting diode) products. Swoboda and seven other CEOs representing American companies at the forefront of innovation were invited to meet with President Obama to discuss American innovation in areas such as clean energy and the potential benefits to the U.S. economy.

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online In his remarks following the White House meeting, the President observed, “I just had a meeting with the CEOs of some of the most innovative energy companies in America to talk about growth and progress of a sector that represents a big piece of America’s economic future. It’s men and women like these who will help lead us out of this recession and into a better future. My job – and our job as a government – is to do whatever we can to unleash the great generative powers of the American economy by encouraging their efforts. And when you hear the innovation that’s taking place – everything from LED lighting that can save a huge amount on energy costs to new concrete materials….that gets you excited about the future.” “With President Obama’s support and the current momentum surrounding energy efficiency and sustainability, there are unprecedented opportunities for U.S. companies, like Cree, to deliver innovative technologies and products to address our current energy challenges,” said Swoboda. “Twentytwo percent of US electricity is used for lighting and the widespread deployment of LED lighting can reduce this by more than 60 percent.” About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting, and semiconductor solutions for wireless and power applications. Cree’s product families include LED fixtures and bulbs, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications.

Joliet Junior College Joins Cree LED University™ Program The nation’s first public community college is the latest forwardthinking educational institution to realize the energysaving benefits of LED lighting DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a leader in LED lighting, announces that Illinois’ Joliet Junior College (JJC) is joining the LED University™ program. College officials recently renovated 12 restrooms on campus, replacing compact fluorescent and tube fluorescent fixtures with sixinch LED recessed lights, LR6s, from Cree. Energy consumption was reduced by 50 percent, from 3,384 watts to 1,692 watts. A total cost of ownership analysis, done by JJC, shows that the college expects to save more than $53,000 over the estimated 25year life span of the LED fixtures. “We wanted to start with a single application as we evaluated the benefits of switching to LED lighting,” said Patrick Van Duyne, JJC director for facility services. “We are thrilled with the 50percent energy savings, and extremely pleased with the great light quality from Cree’s LR6 lights. We anticipate that the drastically lowered maintenance costs, coupled with the reduction in energy usage, means real savings; we no longer budget for disposal costs or for changing light bulbs frequently. Armed with this experience, we plan to move forward with LED lighting in additional restroom renovations and other applications, like dining areas and parking lots.” “JJC energy officials have taken a practical approach to evaluating and deploying LED lighting, realizing significant energy and maintenance cost savings now, and anticipating larger savings as energy and labor costs are expected to rise over the next few years,” said Deb Lovig, Cree LED programs manager. “Although the initial evaluation was relatively small, cutting energy use in half and the potential to save close to $53,000 produced the business case for expanding efforts.” Joliet Junior College joins LED University participants North Carolina State University; Marquette University; University of California, Santa Barbara; University of Arkansas; Madison Area Technical College; Notre Dame;

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online University of California, Davis; University of Alaska at Anchorage; University of Miami and Tianjin Polytechnic University in China in evaluating, promoting, and deploying LED lighting as they work toward increasing energy savings, protecting the environment, reducing maintenance costs, and providing better light quality for improved visibility and safety. About Joliet Junior College Joliet Junior College, the nation's first public community college, offers prebaccalaureate programs for students planning to transfer to a fouryear university. A comprehensive community college, JJC provides occupational education to 35,000 students, adulteducation and literacy programs, workforcedevelopment services, and studentsupport services. Additional information can be found at www.jjc.edu . About LED University The LED University initiative is a growing international community of universities working to evaluate, deploy, and promote LED lighting across their campus infrastructures to save energy, protect the environment, reduce maintenance costs, and provide better light quality for improved visibility and safety. According to the U.S. Department of Energy, 22 percent of electricity used in the U.S. powers lighting. In a world with soaring energy prices based on the availability and control of fossil fuels, and with growing concern about sustainability of the environment, a revolution in lighting is long overdue. Details of each university’s LED lighting pilots and installations are available on the LED University web site: www.leduniversity.org. About Cree, Inc. Cree, Inc. is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for backlighting, wireless and power applications. For additional product and company information, please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the possibility that actual savings may vary from expectations; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree's products obsolete; and other factors discussed in Cree's filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree Introduces World’s First IPx5Rated TriColor LED for FullColor Displays DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces the first commercially available waterresistant, surfacemount, highbrightness LEDs for outdoor video screens. This RGB (redgreenblue) LED has an IPx5 rating, indicating that the LED is protected against lowpressure jets of water from all directions. “We’ve developed a waterresistant, redgreenblue LED that can be used in indoor and outdoor video screen applications,” said Paul Thieken, Cree director of marketing, LED components. “Previously, LEDs had to be

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online encapsulated to protect them from water. By incorporating encapsulation at the LED level, we can help our customers save time and money.” “Displ’aire, working with Cree, is changing the rules for LED displays,” says Leo Stearns, Displ’aire’s CEO. “Cree’s involvement started with us early in our development cycle, and they provided the support we needed to rapidly deploy our new technologies. Displ’aire portable, daylightvisible displays and the new waterresistant Cree LEDs are a perfect technology match for creating brighter, more efficient displays that can better stand up to the elements.” The ScreenMaster® CLV6AFKB features a black face for improved contrast in fullcolor video screens, decorative lighting and amusement applications. It has a unique encapsulation resin with UVinhibitors, minimizing the effects of longterm exposure to direct sunlight which helps to improve the stability of the lightoutput over the life of the LED. It also features a unique matched horizontal radiation pattern—enhancing color mixing and pixeltopixel color consistency. The CLV6AFKB is commercially available now, and samples can be requested through a Cree representative. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting, and semiconductor solutions for wireless and power applications. Cree’s product families include LED fixtures and bulbs, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as the risk we may encounter delays or other difficulties in ramping up production of our new products; the risk we may be unable to manufacture these products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the potential lack of customer acceptance of the products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree Demonstrates Record Efficiency GaN HEMT Doherty Amplifier with Digital Predistortion DURHAM, N.C. Highlighting the performance advantages of its growing line of commercial highpower RF transistors, Cree, Inc. (Nasdaq: CREE) announces the first public demonstration of a record 50 percent efficiency Doherty transistor amplifier at the 2009 IEEE/MTTS International Microwave Symposium being held in Boston this week. The demonstration amplifiers combine Cree’s latest 120W and 240W GaN HEMT transistors linearized with Texas Instruments’ GC5325, a singlechip wideband digital predistortion transmit processor, to enable improved power

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online efficiency for wireless basestation applications. The following amplifiers are being demonstrated at the Cree booth (#2418): * A 50% efficient, 2.11 to 2.17 GHz 480 Watt peak power Doherty amplifier having greater than 80 Watts average power under a WCDMA (6.5dB Peak/Average) corrected to better than 50dBc ACLR covering well over the 2.11 to 2.17 GHz UMTS band. This Doherty amplifier employs the new CGH21240F prematched 240W GaN HEMT transistor. * A 42% efficient, 240 Watt class A/B amplifier, using the CGH21240F transistor, having 40 Watts average power under a WCDMA (6.5dB Peak/Average) corrected to better than 50dBc ACLR covering the 1.8 to 2.3 GHz operating bandwidth. * A 35% efficient, 870MHz 120 Watt class A/B amplifier, using the new CGH09120F transistor, having 20 Watts average power under a two carrier WCDMA (7.5dB Peak/Average) signal corrected to better than 50dBc ACLR covering 25% instantaneous bandwidth. This same transistor has been demonstrated in a number of other amplifier applications in the range of 700 to 1800 MHz including DVBH (digital video broadcast). Texas Instruments’ GC5325 combines a crest factor reduction block (CFR) and a digital predistortion block (DPD) to improve power amplifier (PA) efficiencies. A system evaluation kit is also available including the GC5325, a floatingpoint DSP, highspeed data converters and amplifiers, clocking and RF components to allow for easy demonstration of these efficiencies across a variety of signals. “We continue to demonstrate that our GaN HEMT transistors provide power, bandwidth, and efficiency not achievable with other technologies such as silicon and gallium arsenide transistors. These demonstrations directly address the demand for higherefficiency, broaderbandwidth HPAs in the small form factors necessary for emerging remote radio head and microcell applications. The marketing cooperation between Cree and Texas Instruments validates that highefficiency performance coupled with excellent linearity and spectral mask compliance is possible with our current line of commercial products,” said Jim Milligan, Cree director of RF and microwave products. About Cree Cree is a marketleading innovator of semiconductor solutions for wireless and power applications, lightingclass LEDs, and LED lighting solutions. Cree’s product families include powerswitching devices and radiofrequency/wireless devices, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, and LED fixtures and bulbs. Cree solutions are driving

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online improvements in applications such as variablespeed motors, wireless communications, general illumination, backlighting and electronic signs and signals. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may encounter delays or other difficulties in ramping up production of our new sample products, which are currently available for evaluation and testing purposes only; the risk we may be unable to develop and release commercial products with performance ratings comparable to the development results described above; the risk we may be unable to manufacture products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the potential lack of customer acceptance of the products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree Demonstrates 120Watt and 180Watt HighEfficiency GaN HEMT Amplifiers DURHAM, N.C. Cree, Inc. (Nasdaq: CREE) announces demonstrations of its latest broadband GaN HEMT transistors (the CGH40120F and CGH40180PP) at the 2009 IEEE/MTTS International Microwave Symposium being held this week in Boston. The demonstration amplifiers feature high efficiency and high power under continuouswave (CW) operation, with typical poweradded efficiencies (PAE) of 70% at saturated powers of 120W for the CGH40120F and 180W for the CGH40180PP in class A/B demonstration amplifiers. “A number of veryhighefficiency amplifier architectures, routinely used at lower frequencies for audio and UHF applications, are being realized at much higher RF and microwave frequencies using GaN transistors,” said Jim Milligan, Cree director for RF and microwave products. “Published research indicates greater than 80% PAE using Class D, E, F and J amplifier architectures, with Cree GaN HEMT transistors, at frequencies over 2 GHz. Moretypical Class A/B operation can also offer exceptional efficiency, validated by the demonstrations we are giving this week. Cree GaN transistors offer system designers a wide range of choices, supporting diverse application requirements.” The CGH40120F and CGH40180F are the newest members of Cree’s generalpurpose transistor product family. Samples and fixtures are available through DigiKey. Largesignal models for Agilent’s ADS or AWR’s MWO simulators are available directly from Cree.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online About Cree Cree is a marketleading innovator of semiconductor solutions for wireless and power applications, lightingclass LEDs, and LED lighting solutions. Cree’s product families include powerswitching devices and radiofrequency/wireless devices, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, and LED fixtures and bulbs. Cree solutions are driving improvements in applications such as variablespeed motors, wireless communications, general illumination, backlighting and electronic signs and signals. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may encounter delays or other difficulties in ramping up production of our new products; the potential lack of customer acceptance of the products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings

Cree announces Strategic Relationship with RFHIC DURHAM, N.C. Cree, Inc. (Nasdaq: CREE) announced today that it has signed a definitive agreement with RFHIC Corporation (Suwon, Korea) for Cree to supply GaNonSiC transistors to RFHIC for their GaN HEMT amplifier product families. In addition, Cree and RFHIC have entered into a market development agreement to facilitate deeper market penetration of GaN HEMT solutions by leveraging Cree’s expertise in GaN transistor production on SiC and its MMIC foundry capability and RFHIC’s leadership position in innovative packaging, amplifier integration and volume assembly capabilities. “This important relationship is designed to allow both Cree and RFHIC to expand their market presence and accelerate the insertion of GaN HEMT technology into a number of key, volume applications,” said Dr. Cengiz Balkas, vice president and general manager of Cree’s Power and RF business unit. “The combination of Cree’s and RFHIC’s core strengths can accelerate GaN HEMT market penetration in cellular infrastructure, twoway communication, CATV amplifier, and a variety of other emerging market segments. It provides a wide range of options in hardware integration levels to best address customer needs,” said Jim Milligan, director of RF and microwave products at Cree. “Cree’s GaNonSiC HEMT process is the most mature GaN HEMT process in the market. We initially pursued a GaNonSi HEMT approach but converted our product line and future direction to Cree’s GaNonSiC HEMT technology based on its superior thermal and electrical characteristics as well as its outstanding robustness and reliability. RFHIC aims to offer costeffective, GaN HEMT amplifier solutions to the market, and Cree GaNonSiC HEMT is the clear winner for our product plans,” commented Dr. Samuel Cho, RFHIC’s chief technology officer. About Cree

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online Cree is a marketleading innovator of semiconductor solutions for wireless and power applications, lightingclass LEDs, and LED lighting solutions. Cree’s product families include powerswitching devices and radiofrequency/wireless devices, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, and LED fixtures and bulbs. Cree solutions are driving improvements in applications such as variablespeed motors, wireless communications, general illumination, backlighting and electronic signs and signals. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as the possibility we may be unable to manufacture the volume of products required to fulfill demand in a timely manner due to technological or manufacturing difficulties; the risk that RFHIC’s demand for our products may decrease; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for the products; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings. Related Categories:

Cree Raises Financial Targets for the Fourth Quarter of Fiscal Year 2009 DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, today announced increased revenue and earnings targets for its fiscal fourth quarter ending June 28, 2009. Cree now targets revenue in a range of $143 million to $150 million with GAAP earnings of $0.07 to $0.09 per diluted share and nonGAAP earnings of $0.15 to $0.17 per diluted share, based on an estimated 89 million diluted weighted average shares. Targeted nonGAAP earnings exclude expenses related to the amortization of acquired intangibles of $0.03 per diluted share, and stockbased compensation expense of $0.05 per diluted share. The targeted revenue range is higher than previously announced primarily due to stronger LED component bookings for lightingrelated applications, as well as higher LED chip bookings for notebook backlighting. Gross margin for the quarter is targeted to be at the higher end of previously targeted levels. Operating expenses are targeted to be approximately $46 million. “We are pleased with the strong booking trends for Q4,” stated Chuck Swoboda, Cree chairman and CEO. “We also remain optimistic about the growth potential for LED lighting in fiscal 2010, although there is some near term execution risk as we ramp up production to meet these higher targets.” About Cree, Inc. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED fixtures and bulbs, lightingclass power LEDs, highbrightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online For additional product and company information, please refer to www.cree.com. NonGAAP Financial Measures: This press release highlights the company’s earnings targets on both a GAAP and a nonGAAP basis. The GAAP measure includes certain costs, charges, gains and losses which are excluded from the nonGAAP measure. By publishing the nonGAAP measure, management intends to provide investors with additional information to further analyze the company's future performance. Cree’s management evaluates results and makes operating decisions using both GAAP and nonGAAP measures included in this press release. NonGAAP measures are not prepared in accordance with GAAP and nonGAAP information should be considered a supplement to, and not a substitute for, financial statements prepared in accordance with GAAP. Forward Looking Statements: This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results, including with respect to our targets and prospects, could differ materially due to a number of factors, including the risk that we may be unable to ramp our production quickly enough to meet the targeted revenue levels; the risk that, due to the complexity of our manufacturing processes and transition of production to larger wafers, we may experience production delays that preclude us from shipping sufficient quantities to meet customer orders or that result in higher production costs and lower margins; risks associated with the rampup of our production for our new products, as well as production at our Huizhou facility and subcontractors; current uncertainty in global economic conditions that could negatively affect product demand, collectability of receivables and other related matters as consumers and businesses may defer purchases or payments, or default on payments, in response to tighter credit and negative financial news; our ability to complete development and commercialization of products under development, such as our pipeline of brighter LED chips, LED components and LED lighting retrofit solutions; our ability to lower costs; increasing price competition in key markets; risks resulting from the concentration of our business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for our products; risks associated with our recent acquisitions; risks associated with ongoing litigation; and other factors discussed in our filings with the Securities and Exchange Commission (SEC), including our report on Form 10K for the fiscal year ended June 29, 2008, and subsequent reports filed with the SEC. Except as required under the U.S. federal securities laws and the rules and regulations of the SEC, Cree disclaims any obligation to update any forwardlooking statements after the date of this release, whether as a result of new information, future events, developments, changes in assumptions or otherwise.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online Relations link. The archived replays will be available 24 hours after the live presentation and will be accessible for two weeks. About Cree, Inc. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, lightingclass power LEDs, highbrightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications.

Cree Demonstrates Prototype LR6 LED Downlight with 102 Lumens per Watt Fixture Efficacy DURHAM, N.C. Building on its leadership in LED lighting, Cree announces it is demonstrating a prototype version of the LR6 LED recessed downlight that consumes just 6.5 W of electricity, resulting in 665 lumens, an efficacy of 102 lumens per watt and a power factor greater than 0.9. Shown at LIGHTFAIR International in New York, the highefficiency LR6 prototype features TrueWhiteTM technology, resulting in a 92 color rendering index and a 3500 K color temperature. “By using the latest Cree LEDs, the XLamp® XPG, we were able to achieve this great efficiency,” said Gerry Negley, chief technologist for Cree LED Lighting. “We continue to push the envelope with LED technology—because consumers deserve highquality light without toxic mercury or wasted energy.” About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED downlights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.CreeLEDLighting.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may be unable to develop and release commercial products with performance ratings comparable to the development results described above; the risk we may be unable to manufacture products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the potential lack of customer acceptance of the products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

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Cree Announces Industry’s Brightest and HighestEfficiency LightingClass LED Cree to Demonstrate XLamp® XPG LED, Features 132 Lumens per Watt Efficacy, at LIGHTFAIR International DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces it is demonstrating the newest addition to its lightingclass XLamp® LED family—the XLamp XPG LED—at LIGHTFAIR International in New York, May 57, 2009. The cool white XLamp XPG provides 139 lumens and 132 lumens per Watt at 350 mA. Driven at 1 A, the XPG produces 345 lumens, which is 37 percent brighter and 53 percent more efficient than the brightest XRE LED. The XPG LED has the highest lumen density of any available lightingclass LED, and it is based on the XLamp XP family package. “The XLamp XPG again raises the level of performance available from our XLamp LED family,” said Paul Thieken, Cree, marketing director, LED components. “This product is designed for customers requiring the highest levels of brightness and efficacy.” The XLamp XPG LED is being demonstrated at Cree’s LIGHTFAIR International Booth #1463. Cree is currently taking sample requests for the XLamp XPG and targets the product to be commercially available the third quarter of calendar 2009. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may encounter delays or other difficulties in ramping up production of our new sample products, which are currently available for evaluation and testing purposes only; the risk we may be unable to develop and release commercial products with performance ratings comparable to the development results described above; the risk we may be unable to manufacture products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the potential lack of customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree Announces Industry’s First RedGreenBlueWhite Multichip LED and XLamp® Color LED Performance Breakthrough DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, is expanding its highpower color LED product offerings. Cree is unveiling the industry’s first multichip MCE LED with red, green, blue and white chips—all

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online in a single package. It is also pairing new LED chip innovations with its industryleading XLamp® XPE package to deliver the highest performance family of discrete, highpower color LEDs available. The XLamp MCE color is a unique package design, combining white, red, green and blue LED chips in a single component. The first of its kind in the industry, this compact component provides design flexibility for colorchanging LED applications that require high flux from a small lighting source, such as entertainment and architectural lighting. With the industry’s highest performance, the XLamp XPE color LEDs provide up to 22 percent more flux than the existing XLamp XR color portfolio, with an 80 percent smaller footprint. The XP color portfolio is available in flux bins, at 350 mA, up to: * Royal Blue: 500 mW * Blue: 39.8 lumens * Green: 107 lumens * Amber: 56.8 lumens * Red: 56.8 lumens Compared to the current XLamp XR color LEDs, space between the LED die can be reduced by 75 percent with the new XLamp XPE color LEDs and 94 percent with the new XLamp MCE color LED. This reduction in spacing can allow better color mixing and shadow reduction for colorbased applications, including decorative, architectural and entertainment lighting. Cree is sampling the MCE and XPE color LEDs, with production quantities targeted for Q3 calendar 2009. “We have leveraged the LED chip and packaging innovations developed for our lightingclass white LEDs to deliver real performance gains in highpower color LED applications,” said Paul Thieken, Cree marketing director, LED components. “The combination of technology innovation and package flexibility gives designers working with Cree’s color LEDs increased brightness, flexibility and control.” Learn more about these products at www.cree.com/products/xlamp_new_colors.asp. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may encounter delays or other difficulties in ramping up production of our new sample products, which are currently available for evaluation and testing purposes only; the risk we may be unable to develop and release commercial products with performance ratings comparable to the development results described above; the risk we may be unable to manufacture products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the potential lack of customer acceptance of the products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete;

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree Announces BestinIndustry PAR 38 LED Bulb Revolutionary Cree LED Bulb Delivers the Same Vibrant Color as Halogen with 75 Percent Less Energy DURHAM, N.C. Cree, Inc. (Nasdaq: CREE) is taking another giant step in leading the LED lighting revolution by introducing the LRP38 LED lamp. Now shipping in volume, this light provides a tightlyfocused beam, exceptional color quality, extended life and unmatched energyefficiency. Designed for display and retail installations, the Cree LRP38 is a narrowbeam spotlight for use in supermarket produce displays, department stores, and museums—especially where exceptional color quality is valued. The lamp is currently being evaluated in grocery, department and furniture stores, as well as in bigbox retailers, where it replaced halogen and ceramic metal halide bulbs. “The technology in Cree’s LRP38 LED lamp is by far the most promising that I have seen yet. I am pleased to see that Cree has definitely raised the bar for serious LED lamp solutions," said Brandon Melton, Corporate Purchasing Manager at Chipotle Restaurants. The Cree LRP38 uses Cree TrueWhite™ technology to generate a CRI of 92 at a color temperature of 2700K. The tightlyfocused beam delivers a center beam candlepower of 4000 with a beam angle of 20 degrees. This ULlisted light is designed to replace 50W – 90W halogen PAR38 bulbs, in various applications. The input power is only 12 watts, resulting in a total delivered minimum efficacy of 42 lumens per watt. The lamp is designed to last 50,000 hours in opentrack fixtures or 35,000 in nonIC commercial recessed downlights. The lamp has a unique optical design that maximizes the amount of light within the beam while minimizing the source brightness–so the eye is focused on the merchandise, not the light source. “With this product, we are extending the quality and performance of our awardwinning LED lights into beamcontrolled retrofit lamps,” said Neal Hunter, Cree LED Lighting president. “LEDs contain no harmful mercury and because they don’t emit large amounts of heat, UV or infrared light, they protect what they are illuminating—everything from priceless art to fresh tomatoes. Lighting customers should sacrifice nothing in the pursuit of beautiful, energyefficient light, and with the LRP38, they don’t have to.” The Cree LRP38 will be sold through Cree LED Lighting sales channels and is currently shipping in volume, with high preliminary demand. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, high brightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.CreeLEDLighting.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online number of factors, including the possibility that actual cost savings may vary from expectations; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 28, 2009, and subsequent filings.

Cree Announces Industry’s Smallest ANSICompliant Warm/Neutral LED Bins DURHAM, N.C. As the only LED manufacturer to offer lightingclass LEDs in the entire ANSI color space, Cree, Inc. (Nasdaq: CREE) announces expanded binning for the XLamp® XP LED family. Cree is subbinning its entire warm/neutral white color space into the industry’s smallest offerings while also standardizing two cool white bins. Cree’s XLamp XPE and XPC LEDs, in the industry’s smallest warmwhite bins, are now available to order with standard lead times. Cree has also standardized two cool white bins for the XLamp XP LED family covering the ANSIdefined 5700K to 6500K color space, primarily used for outdoor lighting. “By offering smaller bins—that are more in line with traditional lighting expectations—we can better serve our customers’ lightingclass LED needs,” said Paul Thieken, Cree marketing director, LED components. “These new XLamp XP LED bins are 75 percent smaller than before, allowing customers better control, color and consistency.” “Noticeable color differences among similar whitelight sources could reduce the visual aesthetics of the lighted environment,” said Dr. Nadarajah Narendran, director of research at Rensselaer Polytechnic Institute’s Lighting Research Center. “Our previous research, sponsored by ASSIST, has shown that smaller bins offer improved color consistency among LED lighting fixtures.” The ANSI C78.3772008 standard outlines eight quadrangles on the blackbody locus, covering the cooltowarmwhite color space. The U.S. Department of Energy cites this ANSI standard in its ENERGY STAR® Solid State Lighting 1.1 criteria. Cree adopted the proposed ANSIcolor space for warm and neutral white in 2007, nearly a year before the C78.377standard was formally published. Upon publication, Cree began offering 4 subbins within each ANSI quadrangle. With today’s announcement, each warm/neutral ANSI quadrangle is subdivided into 16 discrete bins—each 75 percent smaller than previously offered and 94 percent smaller than the ANSI C78.377standard. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may encounter delays or other difficulties in ramping up production of our

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online new products; the risk we may be unable to manufacture products with sufficiently low cost to offer them at competitive prices or acceptable margins; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings. Cree and XLamp are registered trademarks of Cree, Inc. ENERGY STAR is a registered trademark of the U.S. Environmental Protection Agency.

Cree Reports Financial Results for the Third Quarter of Fiscal Year 2009 DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, today announced revenue of $131.1 million for its third quarter of fiscal 2009, ended March 29, 2009. This represents a 5% increase compared to revenue of $125.0 million reported for the third fiscal quarter last year and an 11% decrease compared to the fiscal second quarter of 2009. GAAP net income for the third quarter was $4.0 million, or $0.05 per diluted share, compared to net income of $5.7 million, or $0.06 per diluted share, for the third quarter of fiscal 2008. On a nonGAAP basis, net income for the third quarter of fiscal 2009 was $11.8 million, or $0.13 per diluted share compared to net income for the third quarter of fiscal 2008, which was $12.0 million or $0.14 per diluted share. Cree generated $49.9 million of operating cash flow and $40.5 million of free cash flow during the third quarter. “Q3 was a solid quarter for Cree, as we achieved revenue and profits within our previously announced targets,” stated Chuck Swoboda, Cree Chairman and CEO. “Growth in LED lighting partially offset lower demand for auto, mobile and consumer applications in Q3, and we target total LED revenue to rebound in Q4 driven by increased demand for commercial lighting and video screens. As we look ahead to Fiscal 2010, we are targeting our LED lighting and LED component product lines to continue to grow, and we are planning to continue to invest in R&D and capacity to enable this growth.” Recent Business Highlights: * Earned commercial and residential ENERGY STAR® qualifications for bestinclass LED downlight family. The product line, including the LR6, LR5 and LR4 downlights, has demonstrated LED lifetime and fixture efficacy that qualifies for the stringent commercial rating, as well as the residential rating. * Welcomed the University of Miami and the University of Alaska at Anchorage to the LED University™ program. The University of Miami has installed new LED pole lights to improve walkway illumination on the main campus and is evaluating LED lighting for interior applications such as conference rooms, hallways and classrooms. The University of Alaska at Anchorage recently completed a parking lot pilot and is also evaluating LED lighting for recessed lighting in stairwells and mechanical rooms, walkway bollards and parkinglot lights for the new Health Science Building. * Welcomed Chapel Hill, North Carolina, to the LED City® Program. Chapel Hill has installed LED streetlights along the highprofile 100 block of Franklin Street, one of the town’s most recognizable landmarks. According to Mayor Kevin Foy, “By replacing lowpressure sodium streetlights with LEDs, Chapel Hill can reduce energy consumption for street lighting, which we hope will positively impact our budget as well as our carbon emissions.” * Launched the Product Characterization Tool (PCT), an interactive LED design tool that simplifies the task of translating nominal LED performance to realworld conditions. Cree’s PCT, which introduces functionality not commercially offered by any other LED supplier, allows users to easily characterize any XLamp® LED over a wide range of operating conditions, including drive current, flux bin, price and junction temperature. It also calculates metrics such as lumen output, lumens per watt, and lumens per dollar.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online * Developed a demonstration dual switch 1200volt, 100amp power module featuring allSiC semiconductors and capable of operating at junction temperatures up to 200 degrees C. This was accomplished by working with both the United States Air Force Research Lab Propulsion Directorate and highpower module pioneer Powerex, Inc. The allSiC power switch module can be an enabling technology for nextgeneration military systems. Q3 2009 Financial Metrics: * Accounts receivable decreased $5.6 million from Q2 of fiscal 2009 to $102.9 million, resulting in days sales outstanding of 71, an increase of 5 days from Q2 of fiscal 2009. * Inventory decreased $1.3 million from Q2 of fiscal 2009 to $77.5 million and represents 83 days of inventory, an increase of 5 days from Q2 of fiscal 2009. * Cash and investments increased $39.4 million to $404.9 million, with cash flow from operations of $49.9 million and free cash flow (cash flow from operations less capital expenditures) of $40.5 million. Business Outlook: For its fourth quarter of fiscal 2009 ending June 28, 2009, Cree targets revenue in a range of $137 million to $143 million with GAAP earnings of $0.05 to $0.07 per diluted share and nonGAAP earnings of $0.13 to $0.15 per diluted share, based on an estimated 89 million diluted weighted average shares. Targeted nonGAAP earnings exclude expenses related to the amortization of acquired intangibles of $0.03 per diluted share, and stockbased compensation expense of $0.05 per diluted share. Quarterly Conference Call: Cree will host a conference call at 5:00 p.m. Eastern time today to review the highlights of the fiscal third quarter 2009 results and the fiscal fourth quarter 2009 business outlook, including significant factors and assumptions underlying the targets noted above. The conference call will be available to the public through a live audio web broadcast via the Internet. Log on to Cree’s website at www.cree.com and go to “Investor Relations — Overview” for webcast details. The call will be archived and available on the website through May 5, 2009. Supplemental financial information, including the nonGAAP reconciliation attached to this press release, is available in the “Investor Relations” section of Cree’s website, under “Financial Metrics,” “Quarter ending March 29, 2009,” at www.cree.com. About Cree, Inc. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, lightingclass power LEDs, highbrightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com. NonGAAP Financial Measures: This press release highlights the company’s financial results on both a GAAP and a nonGAAP basis. The GAAP results include certain costs, charges, gains and losses that are excluded from nonGAAP results. By publishing the nonGAAP measures, management intends to provide investors with additional information to further analyze the

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online company's performance, core results and underlying trends. Cree’s management evaluates results and makes operating decisions using both GAAP and nonGAAP measures included in this press release. NonGAAP results are not prepared in accordance with GAAP, and nonGAAP information should be considered a supplement to, and not a substitute for, financial statements prepared in accordance with GAAP. Investors and potential investors are encouraged to review the reconciliation of nonGAAP financial measures to their most directly comparable GAAP measures attached to this press release. ForwardLooking Statements: The schedules attached to this release are an integral part of the release. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results, including with respect to our targets and prospects, could differ materially due to a number of factors, including current uncertainty in global economic conditions that could negatively affect product demand, collectability of receivables and other related matters as consumers and businesses may defer purchases or payments, or default on payments, in response to tighter credit and negative financial news; our ability to complete development and commercialization of products under development, such as our pipeline of brighter LED chips, LED components and LED lighting retrofit solutions; our ability to lower costs; increasing price competition in key markets; the risk that, due to the complexity of our manufacturing processes and transition of production to larger wafers, we may experience production delays that preclude us from shipping sufficient quantities to meet customer orders or that result in higher production costs and lower margins; risks associated with the rampup of our production for our new products, as well as production at our Huizhou facility and subcontractors; risks resulting from the concentration of our business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for our products; risks associated with our recent acquisitions; risks associated with ongoing litigation; and other factors discussed in our filings with the Securities and Exchange Commission (SEC), including our report on Form 10K for the fiscal year ended June 29, 2008, and subsequent reports filed with the SEC. Except as required under the U.S. federal securities laws and the rules and regulations of the SEC, Cree disclaims any obligation to update any forwardlooking statements after the date of this release, whether as a result of new information, future events, developments, changes in assumptions or otherwise.

Chapel Hill Joins Cree LED City® Program EnergyEfficient LED Fixtures Light Up Town’s Ongoing Sustainability Efforts DURHAM, N.C. Chapel Hill, N.C., home to the 2009 NCAA Men’s Basketball Champion UNC Tar Heels, has joined the Cree (Nasdaq: CREE) LED City® initiative, an international program to promote and deploy energyefficient LED (lightemitting diode) lighting. Chapel Hill has installed LED streetlights along the highprofile 100 block of Franklin Street, one of the town’s most recognizable landmarks. Ten highpressure sodium streetlights have been replaced to evaluate the extension of LED street lighting in Chapel Hill. LED street lighting can reduce energy consumption by 50 percent or more. The town is soliciting feedback from residents about the quality of the lighting during the course of the 12month pilot program. At a ceremony held during Chapel Hill’s Earth Action Day 2009, Mayor Kevin Foy said, “Joining Cree’s LED City initiative is an important part of Chapel Hill’s commitment to reducing its carbon footprint and becoming a fully sustainable community. By replacing lowpressure sodium streetlights with LEDs, Chapel Hill can reduce energy consumption for street lighting, which we hope will positively impact our budget as well as our carbon emissions.” Using LEDs for energyefficient lighting is just one of the many steps Chapel Hill is taking in order to become a more environmentallyfriendly community. The town has set an aggressive goal of reducing carbon emissions by 60 percent below 2005 levels, by 2050. To support this objective, Chapel Hill is acting on a comprehensive plan that

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online includes policies to promote compact, mixeduse development; alternative transportation; greenway developments and environmental protection. Since Chapel Hill Transit became fare free in 2001, it has become the second largest transit system in the state. This year it will respond to increased ridership with the addition of 11 new hybrid electric buses, part of a plan to green the municipal fleets. Other sustainable practices establish that all new townowned facilities be built using sustainable practices as set by the LEED Silver certification program. Chapel Hill joins a diverse community of progressive LED Cities that are evaluating and deploying LED lighting, including: Raleigh, N.C.; Ann Arbor; Anchorage; Austin; Indian Wells, Calif.; Welland, Ontario; Tianjin, China; and Toronto. Additional information about the LED City program can be found at www.ledcity.org. About LED City The LED City is an expanding community of government and industry parties working to evaluate, deploy and promote LED lighting technology across the full range of municipal infrastructure to: * Save energy * Protect the environment * Reduce maintenance costs * Provide better light quality for improved visibility and safety. According to the U.S. Department of Energy, 22 percent of electricity used in the U.S. powers lighting. In a world with soaring energy prices based on the availability and control of fossil fuels, and with growing concern about sustainability of the environment, a revolution in lighting is long overdue. About Chapel Hill, North Carolina The Town of Chapel Hill, North Carolina, is home to the University of North Carolina – Chapel Hill. Chapel Hill has built a reputation as a leader in sustainability initiatives on social, environmental and economic issues and is piloting new technologies that will assist with the community’s ambitious carbonreduction goals. In 2006, the Town of Chapel Hill became the first U.S. municipality to commit to a 60percent reduction in carbon dioxide emissions by 2050 through the Carbon Reduction Program. The Council authorized the pledge to reduce carbon dioxide emissions from Town municipal operations on a per capita basis, beginning with an initial goal of 5 percent by 2010. For more information on the town’s green initiatives, visit: www.townofchapelhill.org/greencity . About Cree Cree is lighting the LED revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors such as the possibility that actual energy saving may vary from expectations; the potential lack of customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities

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University of Miami Joins Cree LED University™ Program MIAMI, FL Cree, Inc. (Nasdaq: CREE), a leader in LED lighting, announces that the University of Miami has joined the LED University™ program, installing new LED pole lights to improve walkway illumination on the main campus and retrofitting LED lighting at various interior locations. Twenty BetaLED™ LEDway fixtures now illuminate walkways on the main campus in Coral Gables, providing muchimproved visibility and safety. In addition, the university is evaluating LED lighting for interior applications such as conference rooms, hallways and classrooms. LED lighting pilot installations are saving as much as 70 percent on energy used for lighting conference rooms and hallways. “With new LED lighting on our main campus, we achieve far better area illuminationenhancing visibility and safety at night,” said Humberto Speziani, vice president, business services. “The LED lights are more energyefficient than other technologies, reducing our carbon footprint in line with the state’s aggressive goals. The University of Miami is working toward ‘greener’ facilities, and we continue to evaluate new technologies, such as LED lighting, for both interior and exterior applications. The university intends to monitor the performance of LED lighting and other sustainable technologies as they continue to advance.” The University of Miami joins LED University participants North Carolina State University; Marquette University; University of California, Santa Barbara; University of Arkansas; Madison Area Technical College; Notre Dame; University of California, Davis; University of Alaska at Anchorage and Tianjin Polytechnic University in China in evaluating and deploying LED lighting as they work toward increasing energy savings, protecting the environment, reducing maintenance costs, and providing better light quality for improved visibility and safety. About University of Miami The University of Miami is a private research university with more than 15,000 students enrolled from around the world. Founded in 1925 on 230 acres in Coral Gables, just south of Miami, the University of Miami has grown to include the Leonard M. Miller medical campus and James L. Knight Center in Miami; the Rosenstiel School of Marine and Atmospheric Science on Virginia Key in Biscayne Bay; the Richmond campus in southeast MiamiDade county; and the John J. Koubek Center in Little Havana. Additional information can be obtained at www.miami.edu. About LED University The LED University initiative is a growing international community of universities working to evaluate, deploy, and promote LED lighting across their campus infrastructures to save energy, protect the environment, reduce maintenance costs, and provide better light quality for improved visibility and safety. According to the U.S. Department of Energy, 22 percent of electricity used in the U.S. powers lighting. In a world with soaring energy prices based on the availability and control of fossil fuels, and with growing concern about sustainability of the environment, a revolution in lighting is long overdue. Details of each university’s LED lighting pilots and installations are available on the LED University web site: www.leduniversity.org. About Cree Cree, Inc. is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online For additional product and company information, please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the possibility that actual energy savings may vary from expectations; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree's products obsolete; and other factors discussed in Cree's filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

University of Alaska at Anchorage Deploys LED Lights and Joins the Cree LED University™ Program DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a leader in LED lighting, announces that University of Alaska at Anchorage (UAA) is joining the LED University™ program, an international community of universities working to accelerate the adoption of energyefficient LEDs across their campuses. UAA began converting lighting applications to LEDs five years ago, starting with signage, specialty lighting, aisle lighting in lecture halls and theater stairway lighting. The university recently completed a parking lot pilot with seven fixtures from BetaLED, and is evaluating 14 BetaLED™ fixtures for parking garages and covered walkways. UAA is reducing its energy consumption for the parking lot and garage by approximately 60 percent, as compared with the highintensity discharge (HID) lights that were replaced. The university is also evaluating LED lighting for recessed lighting in stairwells and mechanical rooms, walkway bollards and parking lot lights for the new Health Science Building. “Today we are celebrating Earth Day at UAA, and we’re excited about expanding our LED installations for even greater energy and maintenancecost savings,” said Chris Turletes, UAA associate vice chancellor for facilities and campus services. “We’re achieving better visibility and significant energy savings and anticipate significantly reduced maintenance costs for the life of the LED fixtures, which can be 25 years. We are standardizing on LED lighting in the applications where we can achieve these dramatic benefits.” “Lighting at UAA is a major focus for visibility and safety, especially during Anchorage’s long winter nights,” said Deb Lovig, LED programs manager at Cree. “UAA joins a prestigious group of progressive institutions that are promoting and deploying LED lighting as each works toward increasing energy savings, protecting the environment, reducing maintenance costs and providing better light quality.” University of Alaska at Anchorage Located in the heart of Alaska’s largest city is the University of Alaska Anchorage, the state’s largest postsecondary institution. The campus is nestled in the middle of a greenbelt, surrounded by lakes, ponds and wildlife, and is connected to a citywide trail system perfect for students’ active lifestyles. UAA is comprised of six teaching units at the Anchorage campus: the colleges of Education, Health and Social Welfare, Arts and Sciences, Business and Public Policy; and the Community and Technical College; and the School of Engineering. There are four community campuses: MatanuskaSusitna College, Kenai Peninsula College, Kodiak College and Prince William Sound Community College. The University offers many career pathway programs featuring associate’s, baccalaureate and master’s degrees, as well as vocational and professional certificates in more than 150 major study areas, including arts, sciences, business, education, human services and health sciences. About LED University

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online The LED University initiative is a growing international community of universities working to evaluate, deploy and promote LED lighting across their campus infrastructures to save energy, protect the environment, reduce maintenance costs and provide better light quality for improved visibility and safety. According to the U.S. Department of Energy, 22 percent of electricity used in the U.S. powers lighting. In a world with soaring energy prices based on the availability and control of fossil fuels, and with growing concern about sustainability of the environment, a revolution in lighting is long overdue. Participating institutions are evaluating and deploying LED lighting in areas such as offices, student housing, parking garages, walkways and streets across their campus infrastructures and include: University of Miami, North Carolina State University, Marquette University, University of California at Santa Barbara, University of Arkansas, Madison Area Technical College, Notre Dame, University of California at Davis and Tianjin Polytechnic University in China. Details of each university’s LED lighting pilots and installations are available on the LED University web site: www.leduniversity.org. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include blue and green LED chips, high brightness LEDs, lightingclass power LEDs, LED recessed down lights, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the possibility that actual energy savings may vary from expectations; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree's products obsolete; and other factors discussed in Cree's filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree Announces City of Indian Wells Joins LED City® Program Governor Schwarzenegger applauds energysaving efforts CREE ANNOUNCES Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announced that Indian Wells, California, has joined the LED City® initiative, an international program that promotes the deployment of energyefficient LED lighting. The city has converted much of the lighting in City Hall, the Emergency Operations Center and the Public Works Maintenance Facility to LED lighting. Indian Wells is home to several worldclass resorts and is internationally recognized for hosting highprofile golf and tennis events. “It is initiatives like these that have made California a world leader in energy efficiency,” said Governor Arnold Schwarzenegger. “I applaud the City of Indian Wells and the University of California, Davis for promoting the kinds of energyefficiency measures that California needs to meet our aggressive goal of 33percent renewable energy by 2020.”

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online All circular recessed lighting in the buildings was converted to the Cree LR6 LED light, reducing electricity consumption by 80 percent. The City of Indian Wells plans to evaluate LED lighting for other municipal lighting applications to further increase its energy savings. “The City of Indian Wells takes being green seriously,” said Mayor Larry Spicer. “We are known worldwide for our extraordinary landscape and pristine environment, and we make stewardship of these resources a top priority. The recessed LED lighting we have installed throughout our municipal buildings cuts our energy consumption for those lights by 80 percent and is targeted to last for 12 to 25 years, significantly reducing the time and money we spend changing and tossing away bulbs.” “We collaborated with Southern California Edison for these initial LED lighting installations,” noted Greg Johnson, Indian Wells city manager. “They gave us a directive to save energy. We conducted an initial evaluation of many different efficient lighting solutions, and the Cree LR6 LED recessed light was far superior to the others.” About LED City The LED City is an expanding community of government and industry parties working to evaluate, deploy and promote LED lighting technology across the full range of municipal infrastructure to: * Save energy * Protect the environment * Reduce maintenance costs * Provide better light quality for improved visibility and safety. According to the U.S. Department of Energy, 22 percent of electricity used in the U.S. powers lighting. In a world with soaring energy prices based on the availability and control of fossil fuels, and with growing concern about sustainability of the environment, a revolution in lighting is long overdue. About Indian Wells, California From a humble oasis sprung a fountain of luxury. Long an exclusive playground of movie stars, sports legends and even American presidents, Indian Wells now welcomes the world to its sparkling resorts and premier cultural, golf and tennis events. What was once a tribal well and wagon stop slowly grew in the 1950s and 1960s into a small, celebritystudded enclave. Throughout the 1950s, tennis tournaments became annual events, and in 1960, the first Bob Hope Desert Classic was played at Indian Wells Country Club forever linking Indian Wells with topranked golf. Today, thousands of visitors come every year to four luxury resorts on championship courses and to events like the LG Skins Game and the Indian Wells Tennis Tournament presented by The City of Indian Wells. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors such as the possibility that actual energy saving may vary from expectations; the potential lack of customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree Earns Commercial and Residential ENERGY STAR® Qualifications for BestinClass LED Downlight Family Entire Product Line Delivers Superior Efficiency and Lifetime DURHAM, N.C. Cree, Inc. (Nasdaq: CREE) has been awarded ENERGY STAR® qualifications for its LED downlights. The product line, including the LR6, LR5 and LR4 downlights, has demonstrated LED lifetime and fixture efficacy that qualifies for the stringent commercial rating, as well as the residential rating. ENERGY STAR is a joint program of the U.S. Department of Energy (DOE) and the U.S. Environmental Protection Agency (EPA) that helps consumers and organizations save money and protect the environment by promoting energyefficient products. Products earning the commercial ENERGY STAR qualification must meet extended lifetime criteria, which is 40 percent longer than residential standards. “Being rated for both commercial and residential applications is especially significant since more than threequarters of the LED lighting we are deploying today is in commercial installations,” said Neal Hunter, president, Cree LED Lighting. “Cree also provides the highest color rendering of any ENERGY STARqualified LED downlight. In stark contrast to compact fluorescent devices that contain toxic mercury, Cree's nontoxic LED fixtures deliver better efficiency and render colors such that the user doesn't have to compromise their lighting experience.” The Cree LR6 recessed downlight is available and qualified in two color temperatures (2700K and 3500K), and boasts efficiency of more than 54 lumens per watt with lumen output of 650 lumens—higher than any other qualified recessed downlight. The LR6 was the first recessed downlight to receive the ENERGY STAR commercial qualification. The Cree LR4 and LR5 recessed downlights are available and qualified in two color temperatures—2700K, with a CRI of 94 and 3500K, with a CRI of 91. The LR4 product line is also available in two shield angles, 15 degree and 30 degree. The Cree family of LED downlights excels in delivering beautiful, efficient LED light in a manner that surpasses even the most stringent ENERGY STAR standards, as set out in the SSL ENERGY STAR 1.1 criteria for Category A: Recessed Downlights. To see the full list of ENERGY STARqualified LED fixtures visit the ENERGY STAR website: * Residential: www.energystar.gov/index.cfm?fuseaction=ssl.display_products_res_html * Commercial www.energystar.gov/index.cfm?fuseaction=ssl.display_products_com_html About Cree

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED downlights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.CreeLEDlighting.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings. Cree is a registered trademark of Cree, Inc. ENERGY STAR is a registered trademark of the U.S. Environmental Protection Agency.

Cree Launches LED Product Characterization Tool Simplifies and Accelerates LED System Design with LightingClass Cree LEDs DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, launched the Product Characterization Tool, an interactive LED design tool that simplifies the task of translating nominal LED performance to realworld conditions. The online tool, accessible via www.cree.com, allows users to easily characterize any XLamp® LED over a wide range of operating conditions, including drive current, flux bin, price and junction temperature. It also calculates metrics such as lumen output, lumens per watt, lumens per dollar and more. Cree’s Product Characterization Tool (PCT) introduces advanced functionality not commercially offered by any other LED supplier. PCT can perform simple LED system design based on a target total lumen output, calculating parameters such as number of LEDs required and total system efficacy. The calculated system parameters take into account electrical, optical and thermal losses associated with LED system performance. In addition, PCT allows users to compare up to three different XLamp LED configurations at once, empowering customers to best choose between the industryleading XLamp XR, MC and XP package families. “The Product Characterization Tool acts like an interactive data sheet, giving users a more intuitive way to design LED systems using XLamp LEDs,” said Paul Thieken, Cree, marketing director for LED components. “Determining even basic LED system parameters like efficacy with only data sheet graphs and characteristics used to be a timeconsuming process. Cree is moving the LED lighting industry forward by simplifying the process to just a few clicks of the mouse.” More information, including login instructions for the Product Characterization Tool, can be found at www.cree.com/pct .

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree and Powerex Develop New SiC Power Switches for NextGeneration Military Systems DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in silicon carbide (SiC) power semiconductors, working with both the United States Air Force Research Laboratory (AFRL) Propulsion Directorate and highpower module pioneer Powerex, Inc., has developed a demonstration dual switch 1200volt, 100amp power module featuring allSiC semiconductors and capable of operating at junction temperatures up to 200 degrees C. The combination of advanced SiC devices and innovative package design allows the module to operate at temperatures beyond those achievable with a silicon IGBTbased module. Development of the SiC power module was funded by AFRL. It features Cree highcurrent SiC MOSFETs and SiC Schottky diodes, which were developed under contracts from Army Research Laboratory (ARL). The SiC MOSFETs are normallyoff devices and have drive requirements equivalent to the silicon IGBT devices they replace, making the SiC module a potential dropin replacement for most applications. The allSiC power switch module can be an enabling technology for nextgeneration military aircraft and future Army combat systems. This combination of Cree SiC devices and Powerex packaging technology could also lead to smaller, lighterweight systems with reduced cooling requirements, while simultaneously offering increased reliability and overload capacity due to its hightemperature operation capability. When compared to a silicon IGBT module of equal rating, and operating at a junction temperature of 150 degrees C, the SiC MOSFETbased module has 38 percent lower conduction losses and 60 percent lower switching losses for a total powerloss reduction of 54 percent when operated at 20 kHz. The combination of both low conduction and switching losses make this module ideal for any application where high efficiency is critical—such as solar energy power inverters and electric drives, and power conversion for hybrid and electric vehicles. The allSiC module has been jointly developed using materials and assembly processes common in the industry, offering a clear path to volume production. The module can also be easily scaled for higher currents and the layout can be modified for other switch configurations.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online “These 1200Volt, 100amp SiC MOSFET modules represent the next level of integration for SiC power devices. It represents a critical milestone in the technology progression toward highreliability, energyefficient power conditioning and control,” said Dr. John Palmour, Cree chief technology officer, power components and RF devices. “Further, the componentefficiency advantage of this technology is highly relevant in the current energyconscious environment and could translate to significant energy savings for hybrid and electric vehicles, solar power inverters, and industrial motor drive systems.” Dr. James Scofield, the power electronics section lead for AFRL’s Propulsion Directorate said, “As we have seen in the initial reliabilityevaluation and electricaltesting of these modules, the practical realization of the SiC hightemperature, power, and frequency performance entitlement, on a pervasive scale, is coming to fruition. With its inherent hightemperature operational capability, this technology will be widely applicable to highreliability military and commercialsystem power conversion applications.” For more information about the companies and organizations involved in this work, please refer to their respective websites: * United States Air Force Research Laboratory: www.afrl.af.mil * United States Army Research Laboratory: www.arl.army.mil * Powerex: www.pwrx.com * Cree: www.cree.com About Cree Cree is a marketleading innovator of semiconductor solutions for wireless and power applications, lightingclass LEDs, and LED lighting solutions. Cree’s product families include powerswitching devices and radiofrequency/wireless devices, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, and recessed LED down lights. Cree solutions are driving improvements in applications such as variablespeed motors, wireless communications, general illumination, backlighting and electronic signs and signals. For additional product and company information, please refer to www.cree.com About Powerex Powerex is a leading supplier of discrete, modular and integrated highpower semiconductor solutions. Powerex’s broad product line—including IGBTs; IPMs; DIPIPMs; Discrete Rectifiers and Thyristors; and Thyristor and Diode Modules—is enhanced by its divisions devoted to the development of custom modules and customerspecific assemblies. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including such as the risk we may be unable to develop and release commercial products with performance ratings comparable to the demonstration results described above; the possibility we may be unable to manufacture these products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the potential lack of customer acceptance of the products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

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Cree, Inc. to Webcast Upcoming Conference Presentations DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, today announced it will webcast its presentation at four upcoming conferences. Chuck Swoboda, chairman and chief executive officer, will provide a company overview at the following conferences: * The Kaufman Brothers Green Investor Conference on Wednesday, February 18, at 10:30 a.m. EST * The Piper Jaffray 4th Annual Clean Technology & Renewables Conference on Thursday, February 19, at 2:30 p.m. EST * The Merrill Lynch Cleantech Leaders Conference on Wednesday, March 11, at 2:30 p.m. EDT John Kurtzweil, executive vice president and chief financial officer, will provide a company overview at the following conference: * The Morgan Stanley Technology Conference on Tuesday, March 3, at 7:05 p.m. EST A webcast of each presentation will be available live and by replay. To access both the live and archived webcasts, as well as the slide presentation used during the conference, please go to www.cree.com and click on the Investor Relations link. The archived replays will be available 24 hours after the live presentation and will be accessible for two weeks. About Cree, Inc. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, lightingclass power LEDs, highbrightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications.

Cree Announces Sample Release of Two New GaN HEMT Microwave Transistors for Telecommunications Applications DURHAM, N.C. Cree, Inc (Nasdaq: CREE) announces the sample release of two 120W, highly efficient GaN HEMT microwave transistors for telecommunication applications such as WCDMA, LTE and WiMAX. Due to the unique combination of high RF power density, low capacitance and high thermal conductivity silicon carbide (SiC) substrates, these transistors provide superior performance compared to other technologies such as GaAs MESFET or Si LDMOSFET. Two demonstration amplifiers—one for each device—are available for transistor evaluation. The new transistors consist of single, inputprematched GaN HEMT devices providing more than 120 watts of saturated power in small, industrystandard ceramicmetal packages. These transistors provide convenient values of input and output impedances to allow device matching over greater than 30% instantaneous bandwidths. The CGH21120F is designed to be used primarily in the 1800 2300 MHz frequency range, while the CGH25120F is optimized for the 2300 2700 MHz range. This allows the two transistors to be used for DCS (GSM), PCS (GSM and CDMA), WCDMA, and LTE.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online As an example, the CGH21120F provides more than 110 watts of peak CW power at 70% efficiency with a gain of 16 dB when operated at 28 volts. Under WCDMA 3GPP stimulus, the transistor provides 25 watts average power with 40% efficiency in Class A/B operation. This is the highest known WCDMA efficiency from any commercially available transistor at this power level. “We are pleased to add these transistors to our growing family of GaN HEMT products. Each has demonstrated the extraordinary performance needed for today’s demanding 3G and 4G telecommunication networks,” said Jim Milligan, Cree director of RF and microwave products. “High efficiency is becoming a driving factor, along with increased emphasis on higher average powers, for multichannel/carrier applications. These transistors also allow a high degree of digital predistortion correction so that ACLRs (Adjacent Channel Level Ratios) of 60 dBc can be routinely achieved. In a recent demonstration, two CGH21120F transistors, in a Doherty amplifier configuration, generated 80 watts of average power under WCDMA with a record efficiency of 52%.” The CGH21120F and CGH25120F complement the range of Cree’s RoHScompliant HEMT microwave transistors for WiMAX applications available for 802.11x OFDM average power levels of 2W, 4W and 8W. About Cree Cree is a marketleading innovator of semiconductor solutions for wireless and power applications, lightingclass LEDs, and LED lighting solutions. Cree’s product families include powerswitching devices and radiofrequency/wireless devices, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, and recessed LED down lights. Cree solutions are driving improvements in applications such as variablespeed motors, wireless communications, general illumination, backlighting and electronic signs and signals. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may encounter delays or other difficulties in ramping up production of our new sample products, which are currently available for evaluation and testing purposes only; the risk we may be unable to develop and release commercial products with performance ratings comparable to the development results described above; the risk we may be unable to manufacture products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the potential lack of customer acceptance of the products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree Licenses GaN Substrate Technology to Mitsubishi Chemical Corporation DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces that it has entered into an exclusive patent license agreement, subject to some exceptions, with Mitsubishi Chemical Corporation (MCC). Under the agreement, MCC has been given the right to manufacture and sell freestanding GaN substrates and the right to enter into similarlyscoped sublicenses, subject to certain conditions. Over the life of the agreement, Cree will receive a combination of guaranteed payments and royalties on the sale of GaN substrates. “Cree is pleased to enter into this license agreement with MCC, a wellknown and respected materials supplier that has both the resources and expertise to take full advantage of Cree’s GaN substrate technology,” said Steve Kelley,

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online Cree chief operating officer. “The license agreement is a further indication of Cree’s willingness to promote innovation and technological advances in optoelectronic materials, while realizing additional value from our intellectual property.” "GaN substrates are important products in the optoelectronics business at MCC. By entering into this exclusive license agreement with Cree, MCC will expand the GaN substrate business for optical and electrical devices,” Yasuji Kobashi, general manager of MCC’s optoelectronics business stated. “MCC will be able to accelerate R&D and production for highquality GaN substrates with different crystalline orientations.” Other terms of the license agreement, including amount of upfront payment, were not disclosed. About Mitsubishi Chemical Corporation MCC is one of the three core business companies of Mitsubishi Chemical Holdings Corporation and a top chemical company in Japan. Through its core competencies in chemistry, MCC provides cuttingedge products and technologies over a broad range of business domains: performance products, health care and chemicals. As for major lighting and displayrelated products, MCC has long engaged in the development and commercialization of phosphors, GaN substrates, and GaAs and GaP compound semiconductor materials. To address global environmental problems, MCC is responding with numerous CO2 and energyreduction technologies and products. For further information please refer to www.mkagaku.co.jp . About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including uncertain demand for products using the licensed technology, and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree Announces University of California, Davis Joins LED University™ Program and Unveils Bilevel ‘Smart’ Parking Lighting at South Entry Parking Garage DAVIS, CALIF. Cree, Inc. (Nasdaq: CREE), a leader in LED lighting, announces that University of California, Davis is joining the LED University™ program in conjunction with the unveiling of new bilevel LED lighting at UC Davis’ South Entry Parking Structure near the Robert and Margrit Mondavi Center for the Performing Arts. The LED light

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online fixtures, featuring activitysensing technology adapted and developed at California Lighting Technology Center (CLTC) at UC Davis, provide enhanced nighttime visibility while reducing energy consumption by up to 80 percent compared with the metalhalide fixtures that were replaced. Switching to LED lights and adding bilevel activitysensing technology yields energy savings for the project averaging 50 percent. In low mode, energy savings are up to 80 percent. The university installed 50 BetaLED™ fixtures in this project and according to the university, based on nighttime, bilevel operation with an average ambient temperature near 15⁰C, the luminaires should require no relamping and be virtually maintenance free for 20 to 25 years. “With LED lighting, we are improving visibility and enhancing the safety of our parking structure while reducing energy consumption,” said Chris Cioni, associate director of UC Davis facilities management, utilities division. “We are also significantly reducing both maintenance costs and light trespass compared to the incumbent metalhalide technology. Deploying LED lighting in our parking facilities yields benefits in many areas, and we plan to evaluate LED lighting in other applications.” “Our initial LED lighting installation is part of California Lighting Technology Center’s Smart Lighting Initiative, an effort we have pursued over the past two years to utilize highefficiency lighting sources with bilevel activity sensors to reduce lighting levels when no one is using the parking facility,” said Michael Siminovitch, CLTC director. “Even at halfpower, the LED fixtures are delivering plenty of light to the space. We may be able to cut levels further, saving even more electricity and lengthening fixture lifetimes.” Safety can be improved with the bilevel system. When motion is detected and the higher light mode is activated, the change in the visual environment alerts people nearby. Drivers, pedestrians and security agents now have an indicator when there is activity in the area. UC Davis joins LED University participants North Carolina State University, Marquette University, University of California, Santa Barbara, University of Arkansas, Madison Area Technical College, Notre Dame, and Tianjin Polytechnic University in China in evaluating, promoting, and deploying LED lighting as they work toward increasing energy savings, protecting the environment, reducing maintenance costs, and providing better light quality for improved visibility and safety. About University of California, Davis For 100 years, UC Davis has engaged in teaching, research and public service that matter to California and transform the world. Located close to Sacramento, UC Davis has 31,000 students, an annual research budget that exceeds $500 million, a comprehensive health system, and 13 specialized research centers. The university offers interdisciplinary graduate study and more than 100 undergraduate majors in four colleges — Agricultural and Environmental Sciences, Biological Sciences, Engineering, and Letters and Science — and advanced degrees from five professional schools: Education, Law, Management, Medicine, and Veterinary Medicine. The UC Davis School of Medicine and UC Davis Medical Center are located at the Sacramento campus. About California Lighting Technology Center California Lighting Technology Center (CLTC), within the Design Program at UC Davis, is a research and education facility that focuses on the application of energyefficient lighting and daylighting technologies through research, development, demonstration, outreach, and education in partnership with utilities, manufacturers, end users, builders, designers, and governmental agencies. CLTC was established through a collaborative effort of the California Energy Commission’s Public Interest Energy Research (PIER) Program and the University of California, Davis, with support from the U.S. Department of Energy and the National Electrical Manufacturers Association to advance energy efficient lighting and daylighting technologies. For more information, refer to http://cltc.ucdavis.edu .

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online About LED University The LED University initiative is a growing international community of universities working to evaluate, deploy, and promote LED lighting across their campus infrastructures to save energy, protect the environment, reduce maintenance costs, and provide better light quality for improved visibility and safety. According to the U.S. Department of Energy, 22 percent of electricity used in the U.S. powers lighting. In a world with soaring energy prices based on the availability and control of fossil fuels, and with growing concern about sustainability of the environment, a revolution in lighting is long overdue. Details of each university’s LED lighting pilots and installations are available on the LED University web site: www.leduniversity.org. About BetaLED BetaLED, a brand of Beta Lighting, was established to dedicate resources to the emerging use of LED technology for general illumination. Beta Lighting, a Wisconsinbased Ruud Lighting company, provides the lighting industry with highquality, specificationgrade luminaires for exterior lighting applications. For additional exterior LED luminaire information, visit www.BetaLED.com. About Cree, Inc. Cree, Inc. is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the possibility that actual savings may vary from expectations; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree's products obsolete; and other factors discussed in Cree's filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree Inc. Announces 2009 Second Quarter Earnings Call DURHAM, N.C. Cree, Inc., (Nasdaq: CREE) announces the following Webcast: What: Cree Inc.'s Conference Call When: January 20, 2009 @ 5:00 PM Eastern

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U.S. Pentagon to Install Cree LR24 Recessed LED Luminaires Thousands of Fixtures Projected to Achieve Better than FourYear Payback and Superior Light Quality WASHINGTON, D.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces that more than 4,200 LR24 recessed LED luminaires are planned for installation in Wedge 5 of the Pentagon as part of a major renovation currently underway. In a signing ceremony today at the Pentagon, John J. Kubricky, Deputy Under Secretary of Defense for Advanced Systems and Concepts, and Albert C. Ellet, acting director of the Washington Headquarters Service responsible for overseeing the renovation, signed an intradepartmental Memorandum of Agreement kickingoff the initiative to install LED lighting in the Pentagon. The Cree LR24 luminaires have undergone extensive government testing and businesscase analysis, including a preliminary Pentagon installation to meter the fixtures and compare the results to the alternative fluorescent technology. This independent analysis demonstrated a 22percent reduction in energy usage and improved light quality. The businesscase analysis yielded a payback of less than four years. The payback analysis considered energy savings, lifetime maintenance savings, savings from reduced load on the HVAC system, and elimination of hazardous waste disposal fees for mercuryladen fluorescent bulbs. Extensive modeling was also performed to determine optimal lighting design analyzing the light distribution and spacing to ensure superior lighting and energy efficiency. The Wedge 5 installation is estimated to save 140 tons of CO2 emissions per year. "The U.S. federal government is taking a leadership role in energy efficiency for federal buildings both through existing mandates, as well as Presidentelect Obama's American Recovery and Reinvestment Plan, which calls for the renovation of public buildings to make them more energy efficient," said Chuck Swoboda, Cree chairman and chief executive officer. "Installations of highly efficient, lowmaintenance LED lighting, like these in the Pentagon and in the U.S. Federal Reserve, demonstrate that the future of energyefficient lighting is here today." The LR24 units being used for the Pentagon renovation are being purchased from Cree by the Department of Defense's (DoD) Title III program as a part of its ongoing development program with Cree, and provided to the Washington Headquarters Services (WHS), which oversees the Pentagon renovation program. "The Title III program has long supported the development and deployment of SiC substrates and devices for use in highpower RF and powerswitching applications for DoD systems," said John Palmour, Ph.D., Cree cofounder and chief technology officer for advanced devices. "The program realized the importance of ensuring a strong domestic supply of SiC substrates and related devices, and the potential growth of solidstate lighting in the U.S. This Pentagon lighting project is a perfect example of stimulating America's leadership in hightechnology manufacturing yielding unique commercial and defense products, while saving energy. Title III funding was also used to develop the

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online technology in Cree's lighting class XLamp(R) XRE LED platform the light source in the LR24 recessed LED luminaire." About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree's product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree's products obsolete; and other factors discussed in Cree's filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree Elects Robert Ingram to Board of Directors DURHAM, N.C. Cree, Inc. (Nasdaq: CREE) announces that Robert Ingram, vice chairman Pharmaceuticals of GlaxoSmithKline, was elected to the Company’s Board of Directors, and to the Board’s Compensation Committee and Governance and Nominations Committee, effective December 29, 2008. “We welcome Bob to our Board of Directors,” said Chuck Swoboda, Cree chairman and chief executive officer. “His wealth of experience in researchintensive businesses facing global marketing and manufacturing challenges give him an ideal foundation to help us address the opportunities Cree anticipates. The insights he brings should prove beneficial to Cree as we work toward our goal of replacing traditional lighting solutions with energyefficient, environmentally friendly LED lighting.” Ingram, 65, has served since January 2003 as vice chairman Pharmaceuticals of GlaxoSmithKline, a pharmaceutical research and development company in Research Triangle Park, North Carolina. He previously served as chief operating officer and president of Pharmaceutical Operations of GlaxoSmithKline following the December 2000 merger of Glaxo Wellcome plc and SmithKline Beecham plc. Prior to the merger, he served as chief executive officer of Glaxo Wellcome plc and as chairman, president and chief executive officer of Glaxo Wellcome Inc. He also serves on the boards of directors of Lowe’s Companies, Inc., Allergan, Inc., and Edwards Lifesciences Corporation, and also

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online as chairman of the board of directors of OSI Pharmaceuticals, Inc. and as lead director of Valeant Pharmaceuticals International. About Cree, Inc. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications.

Cree Settles Patent Litigation with Bridgelux Cree and Bridgelux Sign Supply Agreement DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a leader in LED lighting, announces that Cree and Boston University have agreed with Bridgelux, Inc. to settle the parties’ patent infringement litigation and to dismiss all claims and counterclaims in the suits. As part of the settlement, Cree granted Bridgelux a license to the Cree and Boston University patents at issue in the litigation, and Bridgelux agreed to pay a license fee and royalties. In addition, Bridgelux and Cree have entered into a supply agreement under which Cree will become a significant supplier to Bridgelux. Other terms of the settlement are confidential. “We are pleased that Cree and Bridgelux were able to resolve the litigation through a supply agreement and licensing arrangement,” stated Adam Broome, Cree vice presidentLegal and general counsel. “This resolution underscores the importance of intellectual property in the nitride LED market. We look forward to working with Bridgelux.” About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com. About Boston University Founded in 1839, Boston University is an internationally recognized institution of higher education and research. With more than 32,000 students and 3,100 faculty members, it is the fourth largest independent university in the United States. BU consists of 17 colleges and schools along with a number of multidisciplinary centers and institutes which are central to the school's research and teaching mission. ForwardLooking Statements This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including risks of uncertain product demand; the rapid development of new technology and competing products that may impair demand or render products obsolete; and other factors discussed in our filings

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online with the Securities and Exchange Commission, including our report on Form 10K for the year ended June 29, 2008 and subsequent filings.

Cree Announces HighVolume Availability of Brightest LightingClass LEDs DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces the highvolume availability of lightingclass XLamp® XPE LEDs with output up to 122 lumens. Cree continues to set the standard for innovation and availability of lightingclass LEDs through its broad family of XLamp LEDs. The volume availability of XLamp LEDs is aimed at further stimulating the LED lighting market, driving applications in outdoor and indoor general illumination as well as portable and retail display lighting. Cree now offers XLamp XPE cool white (5,000K – 10,000K CCT) LEDs in a minimum R2 flux bin (114122 lumens at 350 mA), which is the highest commercially available minimumflux order code for a singledie LED, at 350 mA, in the industry today. “In the past 18 months, Cree has shipped millions of 100+ lumen XLamp LEDs,” said Paul Thieken, Cree marketing director for LED components. “LED product designers know they can depend on Cree to provide the industry’s brightest commercially available LEDs.” Cree XLamp LEDs are available through Cree’s global network of distribution partners. Interested customers can find a local distributor at: http://www.cree.com/r2. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, high brightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including global economic conditions that could affect consumer confidence and customer order patterns including order cancellations; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree Announces Sample Release of New, HighlyEfficient 120watt GaN HEMT Microwave Transistor DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), announces the sample release of a highly efficient 120watt GaN HEMT microwave transistor for generalpurpose military and industrial applications such as electronic warfare,

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online tactical communications, radar, instrumentation and direct video broadcast applications. This transistor provides outstanding RF power performance over wide instantaneous bandwidths compared to other technologies such as GaAs MESFET or Si LDMOSFET. The new transistor, CGH40120F, consists of a single, unmatched GaN HEMT die providing a minimum of 120 watts of saturated output power at 28 volts, in a small, industrystandard, flanged ceramicmetal package. The exceptional performance of the transistor has been demonstrated in a number of amplifier applications, including a 1200 to 1400MHz instantaneousbandwidth reference amplifier that offers greater than 18 dB typical smallsignal gain, 100 watts typical CW output power, and typical poweradded efficiencies of 75 percent across the entire band. Similar amplifiers have also been demonstrated over the 800 to 1300MHz frequency range with output powers greater than 90 watts at efficiencies greater than 65 percent. “The CGH40120F is an important addition to our generalpurpose GaN HEMT product family. This part has been engineered for use in a wide variety of applications, including highefficiency pulsed modes with duty cycles extending to CW operation. The remarkable power and efficiency of this product can positively impact system thermal design, cooling costs, and DC power distribution for current and nextgeneration systems,” said Jim Milligan, director of RF and microwave products at Cree. The CGH40120F complements Cree’s broadband GaN HEMT generalpurpose microwave transistors now available at power levels of 10W, 25W, 35W, 45W and 90W. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may encounter delays or other difficulties in ramping up production of our new sample products which are currently available for evaluation and testing purposes only; the risk we may be unable to develop and release commercial products with performance ratings comparable to the development results described above; the risk we may be unable to manufacture products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the potential lack of customer acceptance of the products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree Brings LED Lighting to Largest Commercial Lighting Market Announces Volume Availability of Cree LR24 DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces the volume availability of the LR24, a 24inch square, recessed LED luminaire. The LR24 delivers highquality, energyefficient light for suspendedceiling applications traditionally addressed by linear fluorescents, also known as layins or troffers.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online The LR24 is the newest addition to the Cree family of recessed LED fixtures and delivers the uniform, high light levels required for offices, schools, hospitals and retail environments while consuming less electricity than most linear fluorescents. The LR24 features superior color rendering, with a colorrendering index (CRI) of 92—compared to a CRI of 70 to 80 for fluorescents. It is also dimmable to 5 percent with standard protocols—providing additional design flexibility and further energysaving potential. “With the addition of the LR24, we can light an entire office using Cree LED fixtures,” said Neal Hunter, Cree president of LED lighting. “You can have it all—superior energy efficiency, naturallooking light, no toxic mercury and an ultra–low maintenance system, designed for 50,000 hours. The volume availability of the LR24 builds on Cree’s success todate, as we’ve already installed more than 1,000 earlyproduction LR24s in various nationalaccount projects.” “We have installed LR24s on one floor at the U.S. Federal Reserve in Washington, D.C. as part of our ongoing energyefficiency program,” said Chris Jennings, U.S. Federal Reserve, plant manager. “The graphic designers in the department love the uniformity and the color rendering of the new lights. We are impressed with the amount of light delivered by the LR24, and we look forward to evaluating additional Cree LED lighting products in other applications within the Federal Reserve.” The use of LED lighting can be a great advantage in gaining LEED (Leadership in Energy and Environmental Design) certification. “LED lighting is becoming an exciting design element in sustainable design projects,” said Tom Liebel, AIA, LEED AP, Associate Principal at Marks, Thomas Architects. “Furthermore, the use of LED lighting for general illumination can dramatically lower a building’s energydensity, allowing an architect to reintroduce accent or decorative lighting—something that is sometimes sacrificed in buildings pursuing LEED certification today.” The LR24 delivers high light levels at only 0.5 to 0.75 watts per square foot. With an elegant 24inch square form, the LR24 offers architects and designers a modern lighting aesthetic, freeing them from the design constraints of linearfluorescent technology. The innovative lens is recessed above the ceiling—reducing glare and creating an attractive and comfortable environment. The LR24 has already been recognized for its superior efficacy in the 2008 Lighting for Tomorrow solidstate lighting competition, organized by the American Lighting Association, the U.S. Department of Energy (represented by Pacific Northwest National Laboratory) and the Consortium of Energy Efficiency. For additional information about the LR24, other Cree LED lighting products, or to find a sales representative, please refer to www.CreeLighting.com. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including global economic conditions that could affect customer orders; the risk we may encounter delays or other difficulties in ramping up production of our new products; the risk we may be unable to manufacture these products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the risk that actual cost savings may vary from expectations; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree Achieves 161 Lumens per Watt from a HighPower LED Highperformance R&D chip and package combine for recordsetting efficacy DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a leader in LED lighting, announces it has achieved industrybest reported R&D results of 161 lumens per watt for a white power LED. These results demonstrate Cree’s continued commitment to deliver industryleading performance through a constant focus on innovation and R&D. Cree’s tests confirmed that the 1mm x 1mm LED produced 173 lumens of light output and achieved 161 lumens per watt efficacy at a color temperature of 4689K. The tests were conducted under standard LED test conditions at a drive current of 350mA, at room temperature. “Cree is inventing, commercializing and delivering LED lighting innovations that aim to obsolete the energyinefficient light bulb,” said John Edmond, Cree cofounder and director of advanced optoelectronics. “Our advances in brightness and efficacy come from a focus on endtoend innovation that can enable LED lighting to address growing numbers of lighting applications while saving energy, saving money and helping to protect the environment.” While this level of performance is not yet available in production LEDs, Cree continues to ship millions of 100+ lumen lightingclass XLamp® LEDs. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as the risk we may be unable to develop and release commercial products with performance ratings comparable to the development results described above; the risk we may be unable to manufacture products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for the products; variations in demand for Cree's products and its customers' products; and

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree, Inc. to Webcast Upcoming Conference Presentation DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, today announced it will webcast its presentation at the upcoming UBS Global Technology and Services Conference. Chuck Swoboda, chairman and CEO, will provide a company overview at the conference on Tuesday, November 18th at 8:15 a.m. Eastern time. A webcast of the presentation will be available live and by replay. To access both the live and archived webcasts, as well as the slide presentation used during the conference, please go to www.cree.com and click on the Investor Relations link. The archived replays will be available 24 hours after the live presentation and will be accessible for two weeks. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED downlights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications.

Madison Area Technical College Installs Hundreds of LED Lights and Joins the LED University™ Program DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a leader in LED lighting, announces that Madison Area Technical College (MATC) in Wisconsin is joining the LED University™ program, an international community of universities working to accelerate the adoption of energyefficient LEDs across their campuses. MATC began installing LED lighting fixtures in mid2007 with eight BetaLED bollard lights that illuminate student walkways on the college’s downtown campus. Today, approximately 400 LED fixtures illuminate a number of MATC campus venues, including outdoor walkways, the student center, administration offices, bus stop shelters and display cases. “We estimate that MATC is achieving, on average, a 30percent reduction in energy use for lighting across a variety of indoor and outdoor applications. That’s pretty impressive given that indoor LED lighting installations have replaced T8 fluorescent tubes, which had previously been considered the most energyefficient option,” said Wes Marquardt, MATC engineering services manager. “We are committed to energy conservation while at the same time providing good lighting levels for our staff and students. We are evaluating LED lighting across nearly every lighting application and deploying LED lights when they meet our requirements for energy savings and light quality.” “MATC is demonstrating the significant energy and overall cost savings of LED lighting for highereducation applications,” said Deb Lovig, LED programs manager at Cree. “MATC is choosing to use LED lighting on campus wherever it provides significant return on investment, helping to bring the LED lighting revolution to new places.” Current MATC campus LED lighting installations feature LED lighting fixtures from a number of vendors.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online MATC joins North Carolina State University, Marquette University, University of California at Santa Barbara, University of Arkansas, Notre Dame and Tianjin Polytechnic University in China in evaluating and deploying LED lighting in areas such as offices, student housing, parking garages, walkways and streets across their campus infrastructures. The LED University member institutions are promoting and deploying LED lighting as they work toward increasing energy savings, protecting the environment, reducing maintenance costs and providing better light quality for improved visibility and safety. Madison Area Technical College Madison Area Technical College (MATC) is the technical and community college for the greater Madison, Wisconsin, area. It is dedicated to providing accessible, highquality instruction and technical experience to meet the needs of its students, community and area employers. Founded in 1912 to teach vocational skills, today MATC is a nationally recognized community college. It is one of the largest of the Wisconsin Technical College System’s 16 colleges and serves approximately 44,000 individuals annually. MATC’s regional campuses are located in Fort Atkinson, Portage, Reedsburg and Watertown. About LED University The LED University initiative is a growing international community of universities working to evaluate, deploy and promote LED lighting across their campus infrastructures to save energy, protect the environment, reduce maintenance costs and provide better light quality for improved visibility and safety. According to the U.S. Department of Energy, 22 percent of electricity used in the U.S. powers lighting. In a world with soaring energy prices based on the availability and control of fossil fuels, and with growing concern about sustainability of the environment, a revolution in lighting is long overdue. Details of each university’s LED lighting pilots and installations are available on the LED University web site: www.leduniversity.org. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, LED recessed down lights, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the possibility that actual energy savings may vary from expectations; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree's products obsolete; and other factors discussed in Cree's filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

University of Notre Dame Installs Library LED Lighting for 81 Percent Energy Savings and Joins the LED University™ Program DURHAM, N.C.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online Cree, Inc. (Nasdaq: CREE), a leader in LED lighting, announces that the University of Notre Dame is joining the LED University™ program, an international community of universities working to accelerate the adoption of energyefficient LEDs across their campuses. The university is implementing four pilot installations to evaluate the feasibility of LED lighting across the campus. These pilots include LED step lighting from BEGAUSA on the new Irish Green, recessed LED lighting from Cree in the Facilities Building conference room and in the elevator lobby of Hesburgh Library, and outdoor decorative area lights from Sternberg Lighting on central campus. The energy savings in the elevator lobby of Hesburgh Library are particularly high because the library is illuminated 24 hours a day. Notre Dame is realizing energy savings of 81 percent for the library installation compared with the previous incandescent lighting and 50 percent for the outdoor lights compared with the previous metal halide lighting. Considering that the campus lies on 1,250 acres and includes 137 buildings, the potential savings from widespread use of LED lighting are tremendous. A Facilities Building conference room was completely relit with LED lights, providing dramatically improved light quality and energy savings of approximately 80 percent, compared with the fluorescent troffers and recessed lights that were replaced. The university installed a combination of energyefficient Cree LR6 and LR4 recessed lights and the new LR24 twofoot by twofoot LED recessed light. These lights all provide dimming capabilities for optimizing lighting levels. “Addressing energy and maintenance costs for campus lighting is one of the most effective ways we can reduce energy use, achieve our sustainability targets, and save money,” said James Mazurek, Notre Dame’s Director of Sustainability. “On average, Americans use 22 percent of energy for lighting, so it makes sense to target lighting in our efforts to become a campus leader in sustainable business practices.” “We encourage universities to approach LED lighting implementation as Notre Dame has,” said Deb Lovig, LED Programs Manager at Cree. “Pick three or four distinct applications to install various LED lights, and then measure the quality of light as well as energy and maintenancecost savings. If the light is better, energy is saved and maintenance costs are significantly reduced, moving to LED lighting from older technologies is a nobrainer.” University of Notre Dame joins North Carolina State University, Marquette University, University of California at Santa Barbara, University of Arkansas, Madison Area Technical College and Tianjin Polytechnic University in China in evaluating and deploying LED lighting in areas such as offices, student housing, parking garages, walkways and streets across their campus infrastructures. The LED University member institutions are evaluating, promoting and deploying LED lighting as they work toward increasing energy savings, protecting the environment, reducing maintenance costs and providing better light quality for improved visibility and safety.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online About the University of Notre Dame The University of Notre Dame, founded in 1842 by Fr. Edward Sorin, a priest of the Congregation of Holy Cross, is an independent, national Catholic university located adjacent to the city of South Bend, Indiana, and approximately 90 miles east of Chicago. Admission to the University is highly competitive, with more than five applicants for each freshman class position. Sixtynine percent of incoming freshmen were in the top 5 percent of their high school graduating classes. Freshman enrollment for 2008 was 1,995, with 26 percent of applicants accepted out of a total of 13,947, the secondlargest applicant pool in the University's history. About LED University The LED University initiative is a growing international community of universities working to evaluate, deploy and promote LED lighting across their campus infrastructures to save energy, protect the environment, reduce maintenance costs and provide better light quality for improved visibility and safety. According to the U.S. Department of Energy, 22 percent of electricity used in the U.S. powers lighting. In a world with soaring energy prices based on the availability and control of fossil fuels, and with growing concern about sustainability of the environment, a revolution in lighting is long overdue. Details of each university’s LED lighting pilots and installations are available on the LED University web site: www.leduniversity.org. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, LED recessed down lights, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online number of factors, including the possibility that actual energy savings may vary from expectations; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree's products obsolete; and other factors discussed in Cree's filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree Introduces New Generation of HighBrightness Oval LEDs Superior Performance for Digital Billboard and Signage Applications DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces the release of its newgeneration highbrightness 4mm and 5mm oval LEDS in blue, green and red. These new oval LEDs feature opticallymatched radiation patterns in blue, green and red, resulting in superior image quality for digital billboard and fullcolor sign applications. In Cree’s unique matchedradiation pattern, the red pattern is inside the blue and green—resulting in a blended coolwhite light, compared to the pink that results when unmatched LEDs are used. Available in a wide range of intensities and colors, Cree’s oval LEDs feature a wide viewing angle and enhanced contrast, making them ideally suited to the signage market. Use of LEDs in signs and displays helps lower power requirements and maintenance expense compared to other technologies. “Customers can now purchase the brightest blue, green and red ovals from a single supplierCree,” said Norbert Hiller, Cree VP and GM, LED Components. “These products offer superior intensity for the rapidly growing videoboard and signage markets. This will give customers additional flexibility to designin the precise part they need—spanning a range of sizes and brightness levels.” The Screen Master® 4mm and 5mm oval LEDs, C4SMF RGS/GJS/BJS and C5SMFRGS/GJS/BJS, are available through Cree’s global distribution network. To find a distributor near you, visit: www.cree.com/hbdistributors. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED downlights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com . This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as the risk we may encounter delays or other difficulties in ramping up production of our new products; the risk we may be unable to manufacture these products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the risk that design wins may not result in actual orders; the risk that actual cost savings may vary from expectations; the potential lack of customer acceptance of the products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

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Cree Reports Record Quarterly Revenue for the First Quarter of Fiscal Year 2009 Q1 2009 Revenue Increased 24% yearoveryear to $140 Million DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, today announced revenue of $140.4 million for its first quarter of fiscal 2009, ended September 28, 2008. This represents a 24% increase compared to revenue of $113.4 million reported for the first fiscal quarter last year and a 3% increase compared to the fiscal fourth quarter of 2008. GAAP net income for the first quarter was $5.9 million, or $0.07 per diluted share, compared to net income of $12.7 million or $0.15 per diluted share for the first quarter of fiscal 2008. Net income for the first quarter of fiscal 2008 benefited from a realized gain on investment of $10.8 million or $0.13 per diluted share. The remainder of this press release highlights the company’s financial results on both a GAAP and a nonGAAP basis. The GAAP results include certain costs, charges, gains and losses that are excluded from nonGAAP results. By publishing the nonGAAP measures, management intends to provide investors with additional information to further analyze the company's performance, core results and underlying trends. Cree’s management evaluates results and makes operating decisions using both GAAP and nonGAAP measures included in this press release. NonGAAP results are not prepared in accordance with GAAP, and nonGAAP information should be considered a supplement to, and not a substitute for, financial statements prepared in accordance with GAAP. Investors and potential investors are encouraged to review the reconciliation of nonGAAP financial measures to their most directly comparable GAAP measures attached to this press release. GAAP EPS of $0.07 per diluted share for the first quarter of fiscal 2009 includes expenses totaling $7.3 million, net of tax, or $0.08 per diluted share related to amortization of acquired intangibles and stockbased compensation expense. On a nonGAAP basis, adjusted to exclude these items, net income for the first quarter of fiscal 2009 was $13.2 million, or $0.15 per diluted share. On a nonGAAP basis, adjusted to exclude similar items as well as a realized gain on investment and property tax expense adjustments, net income for the first quarter of fiscal 2008 was $8.8 million, or $0.10 per diluted share. “Financial results were at the high end of our targeted range in Q1 due to strong LED revenue growth and better margins,” stated Chuck Swoboda, Cree chairman and CEO. “Additionally, the recently announced strategic agreement with Zumtobel signals an important step for Cree and is targeted to accelerate the LED lighting revolution across Europe. While the current economic uncertainty has made forecasting the business more challenging, we continue to target growth driven by increased demand for our XLamp® LED and LED lighting solution products.” Recent Business Highlights: * Announced commercial availability of the XLamp MCE LED. The multichip XLamp MCE retains the same 7mm x 9mm footprint as Cree’s existing XLamp XR family LEDs while providing four times the light output of the existing XRE, the highest lumen output commercially available for a package of this size. * Entered into a longterm strategic agreement with Zumtobel Group, a global market leader in the professional lighting industry, to supply LED downlights to the European market. This agreement accelerates the business relationship, which is anticipated to expand into other highvolume lighting categories in 2009. * Welcomed Welland, Ontario, Canada, into the LED City® program. The city has converted many of its lighting applications to LEDs, including streetlights and traffic signals, and has additional projects underway. * The Cree LR4 recessed architectural LED downlight won the top prize for recessed downlights in the 2008 Lighting for Tomorrow solidstate lighting (SSL) competition, and was praised for “superior energy efficiency and color quality.”

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online The Cree LR24, a 24inch square recessed LED light, was honored for superior efficacy in the “Other Applications” category. * Named Steve Kelley as executive vice president and chief operating officer. Kelley comes to Cree after five years at Texas Instruments where he served as vice president and general manager of the Standard Linear and Logic Group. Q1 2009 Financial Metrics: * GAAP gross margin improved to 35% of revenue compared to 31% in Q1 of FY08, and nonGAAP gross margin was 36%. * Accounts receivable decreased $6.9 million from Q4 to $103.4 million, resulting in days sales outstanding of 66, a decrease of 7 days from Q4. * Inventory decreased $0.9 million from Q4 to $79.2 million and represents 78 days of inventory, a decrease of 2 days from Q4. * Cash and investments were $339.1 million with cash flow from operations of $42.1 million and free cash flow (cash flow from operations less capital expenditures) of $30.3 million. Business Outlook: Current uncertainty in global economic conditions makes it particularly difficult to predict demand and makes it more likely that Cree’s actual results could differ materially from expectations. For its second quarter of fiscal 2009 ending December 28, 2008, Cree targets revenue in a range of $142 million to $146 million with GAAP earnings of $0.07 to $0.08 per diluted share and nonGAAP earnings of $0.15 to $0.16 per diluted share, based on an estimated 89 million diluted weighted average shares. Targeted nonGAAP earnings exclude expenses related to the amortization of acquired intangibles of $0.04 per diluted share and stockbased compensation expense of $0.04 per diluted share. Cree will host a conference call at 5:00 p.m. Eastern time today to review the highlights of the fiscal first quarter 2009 results and the fiscal second quarter 2009 business outlook, including significant factors and assumptions underlying the targets noted above. The conference call will be available to the public through a live audio web broadcast via the Internet. Log on to Cree’s website at www.cree.com and go to “Investor Relations — Overview” for webcast details. The call will be archived and available on the website through November 4, 2008. Supplemental financial information, including the nonGAAP reconciliation attached to this press release, is available in the “Investor Relations” section of Cree’s website, under “Financial Metrics,” “Quarter ending September 28, 2008,” at www.cree.com. About Cree, Inc. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, lightingclass power LEDs, highbrightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors and wireless communications. For additional product and company information, please refer to www.cree.com.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online The schedules attached to this release are an integral part of the release. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results, including with respect to our targets and prospects, could differ materially due to a number of factors, including current uncertainty in global economic conditions that could negatively affect product demand and other related matters as consumers and businesses may defer purchases in response to tighter credit and negative financial news; our ability to complete development and commercialization of products under development, such as our pipeline of brighter LED chips, LED components and LED lighting retrofit solutions; our ability to lower costs; potential changes in demand; increasing price competition in key markets; the risk that, due to the complexity of our manufacturing processes and transition of production to larger wafers, we may experience production delays that preclude us from shipping sufficient quantities to meet customer orders or that result in higher production costs and lower margins; risks associated with the rampup of our production for our new products, as well as production at our Huizhou facility and subcontractors; risks resulting from the concentration of our business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for our products; risks associated with our recent acquisitions; risks associated with ongoing litigation; and other factors discussed in our filings with the Securities and Exchange Commission (SEC), including our report on Form 10K for the fiscal year ended June 29, 2008, and subsequent reports filed with the SEC. Except as required under the U.S. federal securities laws and the rules and regulations of the SEC, Cree disclaims any obligation to update any forwardlooking statements after the date of this release, whether as a result of new information, future events, developments, changes in assumptions or otherwise.

Cree and Zumtobel Announce Strategic Agreement for LED Downlights in Europe Global Adoption of SolidState Lighting Accelerating at a Rapid Pace DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces a longterm strategic agreement with the Austrian Zumtobel Group, a global market leader in the professional lighting industry and listed on the Vienna stock exchange, to supply LED downlights to the European market. The minimum firstyear sales target is 50,000 LR6230V luminaires. This accelerates the business relationship, which is anticipated to expand into other highvolume lighting categories in 2009. The products under the agreement are European versions of awardwinning Cree recessed downlights. They will be sold exclusively under two brands of the Zumtobel Group, Thorn and Zumtobel, in more than 40 countries throughout Europe and selected export markets. “Cree provides us with a unique source of technological knowledge and leadership,” said Andreas Ludwig, Zumtobel Group CEO. “By integrating this innovative LED luminaire into our portfolio, we are securing a significant technological edge.” “The Zumtobel Group is a forwardthinking, marketleading lighting company that understands that LED technology is changing the industry, and they want to help lead the change,” said Chuck Swoboda, Cree chairman and CEO. “This strategic agreement is targeted to accelerate the LED lighting revolution across Europe by providing customers with energyefficient and longlasting products that save energy, save money and help protect the environment.” The LR6230V downlight consumes just 12 watts of power, while delivering beautiful light of equivalent output and color quality to a 75watt incandescent lamp and lasting up to 50 times longer. It is designed to last more than 20 years in homes and 10 years in businesses under normal use. Compared to compact fluorescent (CFL) lamps, Cree’s downlight uses 50 percent less energy, lasts up to five times longer, and contains no mercury.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.CreeLLS.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the possibility we may be unable to manufacture the volume of products required to fulfill contracted demand in a timely manner due to technological or manufacturing difficulties; the potential lack of customer acceptance of the products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree Announces Commercial Availability of XLamp MCE LED DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces the commercial availability of the XLamp® MCE LED, the highestlumen LED in the awardwinning XLamp family. The multichip XLamp MCE retains the same 7 mm x 9 mm footprint as Cree's existing XLamp XR family LEDs while providing four times the light output of the existing XRE, the highest lumen output commercially available for a package of this size. This powerful combination is designed to enable new applications and reductions in overall system cost compared to other LED packages. At 9.8 W, the XLamp MCE LED provides up to 790 lumens at 6000 K and up to 605 lumens at 3000 K. "Cree's XLamp MCE LED is a lightingclass solution for applications that require high lumen output in a small footprint," said Norbert Hiller, Cree vice president and general manager for lighting LEDs. "Imagine the design implications for something like a street light — if you could reduce the size by roughly 75 percent without compromising on lumen output. Or consider the efficiencies that could be gained in an MR16 bulb application." The MCE has already been designed into a number of products and applications, as customers can benefit from increased design flexibility and reduced overall system cost over other, lower fluxoutput LED packages, without compromising on quality. For more information about Cree XLamp MCE LEDs, visit www.cree.com/MCE . About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online Cree's product families include recessed LED down lights, lightingclass power LEDs, high brightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as the risk we may encounter delays or other difficulties in ramping up production of our new products; the risk we may be unable to manufacture these products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the risk that design wins may not result in actual orders; the risk that actual cost savings may vary from expectations; the potential lack of customer acceptance of the products; the rapid development of new technology and competing products that may impair demand or render Creeï¿½s products obsolete; and other factors discussed in Cree's filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree Selects Premier Farnell to Expand Its Global LED Distribution Network DURHAM, N.C. AND LONDON Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, and Premier Farnell plc, a leading multichannel, highservice distributor, announce the signing of a global distribution agreement to distribute performanceleading Cree LEDs. Premier Farnell will distribute the full standard portfolio of Cree LEDs, including the latest technology solutions in the highbrightness and lightingclass XLampï¿½ families. These products will be distributed throughout Premier Farnellï¿½s global network of companies Newark, Farnell, Premier Electronics and FarnellNewark, via its multichannel model of 35 websites, paperbased catalogues and dedicated field sales forces. ï¿½Premier Farnell has an extensive global customer base, reaching those who are both designing and already using highbrightness LEDs, along with a reputation for excellent customer service,ï¿½ said Mark Despotes, Cree vice president of global channels. ï¿½Distributing our products through Premier Farnell is targeted to add tremendous value to our global network of customers to service the fastgrowing LED markets.ï¿½ ï¿½This global distribution agreement will provide our extensive designengineering customer base with the very latest LED lighting technology,ï¿½ said Marianne Culver, head of global supplier management at Premier Farnell. ï¿½The addition of Creeï¿½s highperformance LEDs will significantly enhance our technology line card, and we are very excited about partnering with this forwardthinking manufacturer to provide new, innovative solutions for our customers, in the highgrowth LED lighting market.ï¿½ About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Creeï¿½s product families include recessed LED down lights, lightingclass power LEDs, highbrightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online motors, and wireless communications. For additional product and company information, please refer to www.cree.com. About Premier Farnell Premier Farnell plc (LSE:pfl) is a leading highservice, multichannel distributor of electronic, maintenance, repair and operation products and specialist services throughout Europe, the Americas and Asia Pacific. It goes to market with a differentiated value proposition, worldclass marketing, a stocked range of 400,000 plus products, and access to 4,000,000 more items from 3,000 top manufacturers. The company has group sales of ï¿½744.7 million and 4,100 employees globally. While global in scope, Premier Farnell recognizes the individual needs of each market and has continued to internationalize its model accordingly, trading locally under different brand names. Its primary electronics businesses trade as Farnell in the UK, Europe, India, Australia and New Zealand, Newark in the US, Canada and Mexico, and Premier Electronics in China and Hong Kong. In Singapore, Malaysia and Brazil the operation is known as Farnell Newark. For more information visit the website at www.PremierFarnell.com . This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Creeï¿½s products obsolete; and other factors discussed in Creeï¿½s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree Expands Distribution Relationship with DigiKey to Include HighPerformance Cree LEDs DURHAM, N.C. AND THIEF RIVER FALLS, MINN. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, and DigiKey Corporation announced today that the companies have signed an agreement for the distribution of Cree's highperformance LEDs. DigiKey, a broadline distributor of electronic components and accessories since 1972, has been distributing Cree's energysaving power components since 2007. The global agreement covers the Cree LED portfolio, including the awardwinning lightingclass XLamp® LEDs and the broad highbrightness portfolio, which includes round, oval, SMD and P4 LEDs. Cree LEDs are available through DigiKey’s toprated website and will be added to future print catalogs. “The addition of DigiKey widens Cree’s ability to reach growth markets for our LEDs,” said Mark Despotes, Cree vice president of global channels. “DigiKey has the expertise and the commitment to help accelerate the adoption of LEDs — including the fastgrowing lightingclass and highbrightness markets.” “By expanding our extensive catalog of products to now include Cree LEDs, we are able to offer customers access to this industryleading technology,” said Mark Larson, DigiKey president and COO. “We’re seeing increasing market demand for highquality LEDs, and the Cree LED products are a key addition to our portfolio.” About DigiKey Corporation One of the world’s fastest growing distributors of electronic components, DigiKey has earned its reputation as an industry leader through its total commitment to service and performance. As a fullservice provider of both prototype/design and production quantities of electronic components, DigiKey has been ranked #1 for Overall Performance for 17 consecutive years from among the nation’s more than 200 distributors (EE Times Distribution

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online Study/ August 2008). Offering more than a million products from over 400 quality namebrand manufacturers, DigiKey’s commitment to inventory is unparalleled. Access to the company’s broad product offering is available 24/7 at DigiKey’s toprated website, www.digikey.com . About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED down lights, lightingclass power LEDs, highbrightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

Cree LED Recessed Down Lights Win International Design Competition for Second Straight Year Recognized by U.S. Department of Energy as First and Only Down Lights to Exceed Energy Star® Requirements DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, has again won the top prize for recessed down lights in the 2008 Lighting for Tomorrow solidstate lighting (SSL) competition. The complete Cree LED lighting family has now been recognized for superior efficacy and design by this contest, organized by the American Lighting Association, the U.S. Department of Energy (represented by Pacific Northwest National Laboratory) and the Consortium of Energy Efficiency. The Cree LR4 recessed architectural LED down light won the top prize for LED recessed down lights . Entrants in this category must meet the U.S. Department of Energy’s solidstate lighting Energy Star® criteria, slated to go into effect later this year. Selected from 56 entrants, the LR4 underwent independent laboratory testing, under the direction of the U.S. Department of Energy, as part of the award selection. It was praised for “superior energy efficiency and color quality” by the judges. The Cree LR24, a 24inch square recessed LED light, was honored for superior efficacy in the “Other Applications” category , reserved for general illumination products not covered by Energy Star that exceed device efficacy of 50 lumens per watt. The LR24, targeted for availability this fall, is designed for use in suspended ceilings and features the same beautiful color rendering, long lifetime and bestinclass efficacy as the other Cree LED lights.

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online “Cree is proud to extend the success of our LR6 LED down light, last year’s Lighting for Tomorrow grand prize winner,” said Gary Trott, Cree LED Lighting Solutions vice president of market development. “We continue to set the standard for LED lighting by delivering lights that combine the beautiful color of incandescents with nearly twice the energy efficiency of compact fluorescents. Our lights are designed to last more than two decades under typical residential usage.” Cree’s LED lighting innovation has been praised with numerous other awards including a prestigious 2008 silver International Design Excellence Award (IDEA), a 2008 PCBC Cool Product designation and BuildingGreen’s Top 10 Green Building Products for 2007. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, high brightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.CreeLLS.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may be unable to release commercial products with features comparable to the development results described above; the risk we may be unable to manufacture products with sufficiently low cost to offer them at competitive prices or with acceptable margins; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

City of Welland Joins LED City® Program; Adoption of LED Lighting to Reduce Energy Costs and Improve Light Quality City amends municipal standards to accommodate LED lighting DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, and the City of Welland, Ontario, Canada, announced that Welland has joined the LED City® initiative, an international program that promotes the deployment of energyefficient LED (lightemitting diode) lighting. The city has converted many of its lighting applications to LEDs, including streetlights and traffic signals, and has additional projects underway. Welland has also amended its municipal standards to facilitate LED lighting for all future streetlight installations. Welland has installed 50 LED streetlights along the revitalized area of Fitch Street and is formalizing plans for the installation of 50 additional street and pedestrian lights. The city’s growing use of LEDs is targeted to help decrease the CAN$550,000 per year cost of operating its streetlights. The city plans to eventually retrofit all streetlights with LEDs, which could yield a savings of $253,980 per year.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online “The City of Welland is committed to highquality LED lighting that reduces energy and maintenance costs,” said Mayor Damian Goulbourne. “Welland has been immersed in the testing of LED street lighting and aspires to become a green community, improving life for our residents. We look forward to promoting the benefits of our installations and sharing our experiences within the LED City program, helping to build a global municipal community committed to energyefficient lighting.” “We welcome Welland into the LED City community. Welland city officials have carefully evaluated LED lighting options and are responsibly deploying LED lighting to provide better light while reducing energy and maintenance costs,” said Deb Lovig, Cree’s LED City program manager. “Welland is joining the LED lighting revolution and taking a leadership role in helping other cities learn the benefits of LED lighting in their own communities.” Welland has considerable experience with LED lighting: * In 2005, the city converted all of its incandescent traffic signals to LEDs, resulting in a 66 percent reduction in power consumption. * In 2007, Welland installed 50 LED streetlights along Fitch Street – showing notable improvements on a street that was named one of the top 20 worst roads in Ontario in 2005. * In January 2008, Toronto’s greenTbiz organization administered a publicperception survey of LEDs in Welland. In the results, 73 percent of all respondents preferred the new LED streetlights. The responses listed energy savings, cost savings, brighter light, whiter color and decreased glare as some of the reasons for this preference. Welland city staff has specifically recommended that the city convert more of its lights to LEDs, citing the benefits of LED technology improvements. The city plans to convert its downtown decorative pedestrian lighting to LED as part of the city’s downtown revitalization project. The 50 LED streetlights to be installed in Welland are based on the K56EAR LED Series made by King Luminaire, and contain LED light engines from Wellandbased CRS Electronics. The light engines use the performanceleading Cree XLamp® LED. About LED City The LED City is an expanding community of government and industry parties working to evaluate deploy and promote LED lighting technology across the full range of municipal infrastructure to: * Save energy * Protect the environment * Reduce maintenance costs * Provide better light quality for improved visibility and safety. According to the U.S. Department of Energy, 22 percent of electricity used in the U.S. powers lighting. In a world with soaring energy prices based on the availability and control of fossil fuels, and with growing concern about sustainability of the environment, a revolution in lighting is long overdue. About Welland, Ontario, Canada Welland, also known as “The Rose City,” is located in the Niagara region of Ontario, Canada, near the Welland Canal and Welland River. With a population of more than 50,000, Welland is known for its large French Canadian population and the Niagara College of Applied Arts and Technology. The city spans 31.3 square miles with landmarks such as the Welland Recreational Waterway, Townline Tunnel and the Main Street Bridge. Welland is committed to environmental stewardship through the Brownfield Strategy/Community Improvement Plan, using financial incentives and municipal leadership to promote redevelopment and sustainability. For additional information, please refer to www.welland.ca . King Luminaire Products

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online King Luminaire manufactures highquality decorative outdoor lighting fixtures, fabricated metal poles, arms and site furnishings. The brand is part of the StressCrete Group, one of the oldest, most reliable manufacturers of spun concrete poles in North America. For additional information, please refer to www.stresscretegroup.com . About CRS Electronics Headquartered in Welland, Ontario, CRS Electronics engineers, designs and manufactures LED light engines and lamps for various applications including aviation, architectural, theatrical, retail signage/display, automotive, flashlights and emergency vehicles. CRS offers a stateoftheart surfacemount assembly line that is optimized for LED assembly and custom manufacturing. CRS has been a major source of vehicle lighting for buses and trucks for many years and was the inventor of the industryleading Child Reminder System. In 2007, CRS completed one of the largest LED MR16 lighting retrofits in North America at the Palace Pier condominium tower in Toronto, Ontario. CRS has now embarked on a new line of general lighting products that include indoor LED down lights and highoutput LED streetlights. For additional information, please refer to www.crselectronics.com or call 9057889039 x.231. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include LED recessed down lights, lightingclass power LEDs, high brightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors such as risks inherent in conducting opinion surveys; the possibility that actual energy saving may vary from expectations; the potential lack of customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 29, 2008, and subsequent filings.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online A webcast of each presentation will be available live and by replay. To access both the live and archived webcasts, as well as the slide presentation used during the conference, please go to www.cree.com and click on the Investor Relations link. The archived replays will be available 24 hours after the live presentation and will be accessible for two weeks. About Cree, Inc. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, lightingclass power LEDs, highbrightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications.

Cree Names Steve Kelley as Chief Operating Officer DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces that Steve Kelley will join the company as executive vice president and chief operating officer, effective today. In this newly created position, Kelley will be responsible for business development, global manufacturing, technology and administrative operations of the company. “Steve's breadth of experience and track record of success in the semiconductor business will be a strong addition to the Cree leadership team as we drive the adoption of energyefficient LED lighting,” said Chuck Swoboda, Cree chairman and chief executive officer. Kelley comes to Cree after five years at Texas Instruments where he served as vice president and general manager of the Standard Linear and Logic Group. Prior to that, Kelley spent 10 years at Philips Semiconductors in various management positions. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, high brightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

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Cree Reports Record Revenue for the Fourth Quarter and Fiscal Year 2008 Annual Revenue Increased 25% to $493 Million DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, today announced revenue of $135.9 million for its fiscal fourth quarter ended June 29, 2008. This represents a 9% increase compared to the fiscal third quarter of 2008 and a 22% increase compared to revenue of $111.2 million reported for the fourth fiscal quarter last year. GAAP net income for the fourth quarter was $8.4 million, or $0.09 per diluted share, compared to net income of $6.4 million or $0.08 per diluted share for the fourth quarter of fiscal 2007. The remainder of this press release highlights the company’s financial results on both a GAAP and a nonGAAP basis. The GAAP results include certain costs, charges, gains and losses that are excluded from nonGAAP results. By publishing the nonGAAP measures, management intends to provide investors with additional information to further analyze the company's performance, core results and underlying trends. Cree’s management evaluates results and makes operating decisions using both GAAP and nonGAAP measures included in this press release. NonGAAP results are not prepared in accordance with GAAP, and nonGAAP information should be considered a supplement to, and not a substitute for, financial statements prepared in accordance with GAAP. Investors and potential investors are encouraged to review the reconciliation of nonGAAP financial measures to their most directly comparable GAAP measures attached to this press release. GAAP net income from continuing operations was $0.07 per diluted share for the fourth quarter of fiscal 2008. This amount excludes a gain from discontinued operations of $0.02 per diluted share and includes expenses totaling $7.9 million, net of tax, or $0.09 per diluted share related to amortization of acquired intangibles and stockbased compensation expense. On a nonGAAP basis, adjusted to exclude these items, net income from continuing operations for the fourth quarter of fiscal 2008 was $14.5 million, or $0.16 per diluted share. Included in nonGAAP earnings is a $0.03 per diluted share benefit primarily due to a state franchise tax credit that reduced G&A for the quarter. Excluding this $0.03 per diluted share benefit, nonGAAP earnings were consistent with the company’s previously announced target range. On a nonGAAP basis, net income from continuing operations for the fourth quarter of fiscal 2007 was $7.4 million, or $0.09 per diluted share. For fiscal year 2008, Cree reported revenue of $493.3 million, which represents a 25% increase compared to revenue of $394.1 million for fiscal 2007. GAAP net income was $33.4 million, or $0.38 per diluted share, compared to $57.3 million, or $0.72 per diluted share for fiscal 2007. On a nonGAAP basis net income for fiscal year 2008 was $47.2 million, or $0.54 per diluted share, compared to $35.4 million, or $0.44 per diluted share, for fiscal 2007. “Q4 represented a strong finish to a very successful year,” stated Chuck Swoboda, Cree chairman and CEO. “Revenue exceeded our previously announced guidance due to strong LED sales, which grew 11% sequentially and 27% from a year ago. We have executed our strategy to transform Cree into a broadbased LED company with chips, components and systems that are leading the LED lighting revolution. While we recognize that there is caution in the market about the global economic environment, we remain optimistic about the year ahead as the momentum continues to build for our new products and energyefficient lighting.” Recent Business Highlights: * Introduced several new LED lighting products: Announced a new version of the LR6 designed for 220V to 240V electrical systems to address Europe, Asia and other major markets. Released the LR4, a fourinch architectural recessed LED down light for new construction and renovation projects. The LR4 delivers up to 540 lumens of highquality, dimmable light from less than 11 watts of power.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online Demonstrated the XLamp® MCE LED at LIGHTFAIR International. The multichip LED retains the same footprint as Cree’s existing XLamp XR family LEDs while providing four times the light output of the existing XRE. Announced a new standard for lightingclass LEDs with the introduction of the XLamp XPE and XPC LEDs. These breakthrough LEDs have the smallest footprint in the industry for lightingclass LEDs—providing the same highquality lighting performance and proven reliability as Cree XRE and XRC LEDs in an 80percent smaller package. * Cree’s flagship LED recessed down light, the LR6, won a prestigious Silver International Design Excellence Award (IDEA) in the EcoDesign category. IDEA is one of the most prominent design competitions in the world, celebrating cuttingedge products and product concepts. * Announced the LED UniversityTM program with North Carolina State University, Marquette University, University of California at Santa Barbara, University of Arkansas and Tianjin Polytechnic University. Each of the participating universities is conducting LED lighting pilots to determine the cost and environmental benefits of switching to LED lighting in campus applications. * Welcomed Anchorage, Alaska, into the LED City® program. Anchorage Mayor Mark Begich announced his city’s participation in conjunction with an energyrelated initiative for the retrofit of all 16,000 municipal roadway lights with highefficiency LED fixtures. * Entered into an agreement with Toyoda Gosei providing each company with access to the other’s patents relating to LED chip and packaged LED technology. Q4 2008 Financial Metrics: * Gross margin was 34% of revenue. * Inventory decreased $3.2 million from Q3 to $80.2 million and represents 80 days of inventory (DOI), a decrease of 12 days from Q3. * Accounts receivable decreased $1.2 million from Q3 to $110.4 million, resulting in days sales outstanding of 73, a decrease of 7 days from Q3. * Cash flow from operations was $36.7 million. * Cash and investments decreased $27.3 million to $371.0 million from Q3, as we used $51.1 million to repurchase approximately 2 million shares at an average cost of $25.96 per share. Business Outlook: For its first quarter of fiscal 2009 ending September 28, 2008, Cree targets revenue in a range of $138 million to $142 million with GAAP earnings of $0.06 to $0.08 per diluted share and nonGAAP earnings of $0.13 to $0.15 per diluted share, based on an estimated 89.5 million diluted weighted average shares. Targeted nonGAAP earnings exclude expenses related to the amortization of acquired intangibles of $0.03 per diluted share and stockbased compensation expense of $0.04 per diluted share. Cree will host a conference call at 5:00 p.m. Eastern time today to review the highlights of the fiscal fourth quarter 2008 results and the fiscal first quarter 2009 business outlook, including significant factors and assumptions underlying the targets noted above. The conference call will be available to the public through a live audio web

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online broadcast via the Internet. Log on to Cree’s website at www.cree.com and go to “Investor Relations — Overview” for webcast details. The call will be archived and available on the website through August 26, 2008. Supplemental financial information, including the nonGAAP reconciliation attached to this press release, is available in the “Investor Relations” section of Cree’s website, under “Financial Metrics,” “Quarter ending June 29, 2008,” at www.cree.com. About Cree, Inc. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, lightingclass power LEDs, highbrightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com. The schedules attached to this release are an integral part of the release. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results, including with respect to our targets and prospects, could differ materially due to a number of factors, including our ability to complete development and commercialization of products under development, such as our pipeline of brighter LED chips, LED components and LED lighting retrofit solutions; our ability to lower costs; potential changes in demand; increasing price competition in key markets; the risk that, due to the complexity of our manufacturing processes and transition of production to larger wafers, we may experience production delays that preclude us from shipping sufficient quantities to meet customer orders or that result in higher production costs and lower margins; risks associated with the rampup of our production for our new products, as well as production at our Huizhou facility and subcontractors; risks resulting from the concentration of our business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for our products; risks associated with our recent acquisitions; risks associated with ongoing litigation; and other factors discussed in our filings with the Securities and Exchange Commission (SEC), including our report on Form 10K for the fiscal year ended June 24, 2007, and subsequent reports filed with the SEC. Except as required under the U.S. federal securities laws and the rules and regulations of the SEC, Cree disclaims any obligation to update any forwardlooking statements after the date of this release, whether as a result of new information, future events, developments, changes in assumptions or otherwise.

Cree Announces New XLamp® XPE and XPC LEDs Industry’s Smallest LightingClass LEDs Set New Performance Benchmarks DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces a new standard for lightingclass LEDs with the introduction of the XLamp® XPE and XPC LEDs. These breakthrough LEDs have the smallest footprint in the industry for lightingclass LEDs—providing the same highquality lighting performance and proven reliability as Cree XRE and XRC LEDs in an 80percent smaller package. The new XLamp LEDs, measuring just 3.45 mm square by 2 mm high, can enable new applications, including backlighting, signage, outdoor, indoor and portable lighting, thanks to their small size and low profile as well as a wide

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online viewing angle and symmetrical package. Available bins for XLamp XPE LEDs include minimums of 100 lumens at 350 mA in cool white (5000 K 10000 K) and 80.6 lumens at 350 mA in warm white (2600 K 3700 K). “We recognized an unmet need for lightingclass performance in a smallfootprint, lowprofile LED package. These products, based on an innovative new technology platform, address this need,” said Paul Thieken, Cree marketing director for LED components. “This new platform, in concert with the existing XLamp products and the recently demonstrated XLamp MCE LED, give LED lighting designers enhanced flexibility and performance to further accelerate the LED lighting revolution.” The XLamp XPE and XPC LEDs are available to order with standard lead times. For additional information, technical specifications, or to find an authorized distributor, visit www.cree.com/xp. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, lightingclass power LEDs, highbrightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as the risk we may encounter delays or other difficulties in ramping up production of our new products; the risk we may be unable to manufacture products with sufficiently low cost to offer them at competitive prices or acceptable margins; the potential lack of customer acceptance of the products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings. About Cree

Cree Opens Engineering Center in Shenzhen, China, to Aid HighQuality LED Luminaire Design DURHAM,N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces the opening of the Cree Shenzhen Engineering Center in Shenzhen, China. This technical education center is dedicated to training lighting product designers and manufacturers in best practices for LED lighting product design and construction. Colocated with the Cree Shenzhen sales office, the engineering center employs application engineering, technical and sales staff. Cree experts will teach courses and are available to consult with customers on XLamp® LEDbased designs, provide onsite handling guidance for LEDs during production, and evaluate LED designs for efficiency and performance.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online The modular curriculum, taught in Mandarin, is designed to expand traditional lighting designers’ and manufacturers’ understanding and knowledge of the use of LEDs in generalillumination applications. The curriculum is targeted to include topics such as: * Basics of LEDs * Basic color theory and measurement * Circuitry design for driving Cree XLamp LEDs * Optical design for Cree XLamp LEDs * Common problems and answers “For designers who are creating efficient LED fixtures, using industryleading Cree XLamp LEDs is only one element of a successful design,” said George Li, Cree Hong Kong director of sales. “By helping our customers create more effective and efficient LED systems, we hope to accelerate the worldwide adoption of highquality LED lighting.” Cree held a grand opening ceremony on July 25, 2008, with customers and honorable guests, including Mr. Chen Yan Sheng, president of the China Association of Lighting Industry. For more information about visiting the Cree Shenzhen Engineering Center, contact a Cree Sales office in China (www.cree.com/cn/about/contact.asp). About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED down lights, lightingclass power LEDs, high brightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

Anchorage Joins LED City® Initiative to Improve Light Quality and Reduce Energy Costs Municipality appropriates $2.2 Million for first phase installation of LED roadway lights DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, and the Municipality of Anchorage today announced Anchorage’s participation in the LED City® program, an international program that promotes the deployment of energyefficient LED lighting. Anchorage Mayor Mark Begich announced his city’s participation in conjunction with an energyrelated initiative calling for the retrofit of all 16,000 municipal roadway lights with highefficiency LED fixtures.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online “I am pleased to announce the appropriation of $2.2 million to enable the city to purchase LED fixtures to change out roughly onequarter of Anchorage’s streetlights,” notes Mayor Begich. “We have studied new lighting technology extensively over the past several months to validate energy and maintenance cost savings. We also conducted a lighting conference and public survey in March of this year that showed our residents overwhelmingly approve of the new white LED lighting. With this feedback and quantified costs savings research in hand, we are confident in moving ahead with the broad deployment of LED lighting for our roadways.” “Lighting is absolutely critical to daily life in Anchorage. The continental US has more than eight hours of daylight per day. Here in Anchorage, approximately 85 days a year see less than eight hours of daylight. It is significant that this community is at the forefront of adopting energyefficient lighting,” notes Deb Lovig, Cree LED City program manager. “Cree and the other LED Cities welcome Anchorage into the program and look forward to learning from this largescale installation as the city pushes forward for energy and maintenance savings with LED lighting.” The LED fixtures from BetaLED are expected to use 50percent less energy than current streetlights, which could save the city $360,000 annually at today’s energy prices. The LED fixtures, based on performanceleading Cree XLampÒ LEDs, typically last up to seven times longer than highpressure sodium fixtures, allowing Anchorage to better utilize maintenance resources. About LED City The LED City is an expanding community of government and industry parties working to evaluate deploy and promote LED lighting technology across the full range of municipal infrastructure to: * Save energy * Protect the environment * Reduce maintenance costs * Provide better light quality for improved visibility and safety According to the U.S. Department of Energy, 22 percent of electricity used in the U.S. powers lighting. In a world with soaring energy prices based on the availability and control of fossil fuels, and with growing concern about sustainability of the environment, a revolution in lighting is long overdue. LED City program participants include Raleigh, NC; Toronto, Ontario; Ann Arbor, MI; Austin, TX; Tianjin, China; Torraca, Italy, and now Anchorage, AK. About Anchorage, Alaska Anchorage (officially called the Municipality of Anchorage) is home to some 282,813 municipal residents, making it Alaska’s largest city with more than twofifths of the state’s total population. Anchorage has been named AllAmerica City four times, in 1956, 1965, 1984/85, and 2002, by the National Civic League. Diverse and extraordinary scenery and wildlife exist in urban Anchorage and the surrounding area. Approximately 250 black bears and 60 grizzly bears live in the area. Moose are a common sight and are a hazard to drivers, with over 100 moose killed by cars each year. Because of Anchorage’s latitude, summer days are very long and winter daylight hours are very short. Anchorage is often cloudy during the winter, which decreases the amount of sunlight experienced by residents. For more information visit: www.muni.org . About BetaLED BetaLED, a brand of Beta Lighting, was established to dedicate resources to the emerging use of LED technology for general illumination. Beta Lighting, a division of Ruud Lighting, Inc., provides the lighting market with highquality, specificationgrade luminaires for exterior lighting applications. For additional exterior LED luminaire information, visit www.BetaLED.com.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for general illumination, backlighting, wireless and power applications. For additional product and company information, please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the possibility that actual energy saving may vary from expectations; the potential lack of customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

Cree LR6 LED Light Wins Silver International Design Excellence Award (IDEA) DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announced that its flagship LED recessed down light, the LR6, won a prestigious Silver International Design Excellence Award (IDEA) in the EcoDesign category. IDEA is one of the most prominent design competitions in the world, celebrating cuttingedge products and product concepts. Selected from 1,517 entries, the juried awards are cosponsored by the Industrial Designers Society of America and BusinessWeek. This award continues the parade of accolades garnered by the LR6 for its performance and quality. The LR6 is an allinone LED luminaire that converts sixinch recessed cans into energyefficient lighting. The LR6 consumes just 12 watts of energy, which is 85percent less than a traditional incandescent and 50percent less than a compact fluorescent, while providing industryleading light quality and aesthetics. A unique feature of the LR6 is the available Edison base that allows the retrofit of existing cans in minutes with no rewiring or special tools. “The innovative design of the LR6 is truly unique in the industry, and we are pleased that it has been recognized through this prestigious award,” said Neal Hunter, president, Cree LED Lighting Solutions. “It was created for the critical need of energy efficiency combined with a userfriendly design that allows for easy installation.” “LED lighting is ready today to help address the world’s energy needs,” said Chuck Swoboda, Cree CEO and chairman. “Cree continues to drive improvements in LED technology and to help accelerate adoption of energyefficient, environmentally friendly LED lights, such as the LR6.” The LR6 is available through lighting showrooms and lighting and electrical wholesalers in all 50 U.S. states and across Canada (visit www.CreeLLS.com/buy). It has been honored with the 2007 Lighting For Tomorrow Grand Prize for Solid State Lighting, BuildingGreen’s Top 10 Green Building Products for 2007 and was also named a 2008 PCBC Cool Product. About Industrial Designers and IDSA Industrial designers determine the form, use features and interaction qualities of manufactured products, packaging and digital media systems. They study people at work, at home and in motion to create satisfying experiences with products from the kitchen and the office to the hospital and the warehouse, shaping these to fit their customers and to make effective use of industrial processes. In this way, industrial designers have a quiet but profound presence in

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online almost everything people encounter during the day. IDSA is the voice of industrial design, committed to advancing the profession through education, information, community and advocacy. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED down lights, lightingclass power LEDs, highbrightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors and wireless communications. For additional product and company information, please refer to www.CreeLLS.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the possibility that actual energy saving may vary from expectations; the potential lack of customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online About Industrial Designers and IDSA Industrial designers determine the form, use features and interaction qualities of manufactured products, packaging and digital media systems. They study people at work, at home and in motion to create satisfying experiences with products from the kitchen and the office to the hospital and the warehouse, shaping these to fit their customers and to make effective use of industrial processes. In this way, industrial designers have a quiet but profound presence in almost everything people encounter during the day. IDSA is the voice of industrial design, committed to advancing the profession through education, information, community and advocacy. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED down lights, lightingclass power LEDs, highbrightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors and wireless communications. For additional product and company information, please refer to www.CreeLLS.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the possibility that actual energy saving may vary from expectations; the potential lack of customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

Cree Delivers GaN Process Design Kit for Use with Agilent’s Advanced Design System EDA Software—Shortens MMIC Design Cycles DURHAM, N.C. Cree, Inc. (Nasdaq: CREE) announces the availability of a leadingedge process design kit (PDK) for GaN HEMT process technology. The Cree PDK, developed for use with Advanced Design System (ADS) from Agilent Technologies, Inc., can enable radiofrequency (RF) and microwave designers to shorten the development cycle for monolithic microwave integrated circuits (MMIC) used in highpower, highperformance electronic systems, resulting in a highly productive design flow. The Cree GaN kit includes microstrip lines, discontinuities, scalable capacitors, inductors and resistors, pads, vias, airbridges and active devices (HEMTs) at multiple biases. Cree’s GaN foundry is the world’s first stateoftheart, widebandgap MMIC facility, and our GaNonsilicon carbide devices have significantly higher power density, thermal conductivity and operating voltage than traditional GaAs or Silicon MMIC technologies. RF designers can take advantage of this PDK to create MMICs for highpower commercial wireless, wideband military, electronicwarfare and radar applications. “We are pleased to offer access to our GaN MMIC foundry capability through the Advanced Design System. This kit allows our customers to take advantage of an industryleading electronic design automation (EDA) technology that

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online provides seamless schematic through layout interoperability with design rule checking (DRC). This integrated design flow can help accelerate our customers’ timetomarket by offering an accurate and productive work environment,” said Jim Milligan, director of RF and microwave products at Cree. “GaN is becoming more and more important in the industry. With Cree’s GaN process, our mutual customers have access to a powerful MMIC design solution in an integrated flow for leadingedge, highpower applications,” said Anitha Swaminathan, foundry program manager with Agilent’s EEsof EDA division. For additional information about the Cree PDK, please call (919) 2877816 or visit www.cree.com. About Agilent Agilent EEsof EDA is an industryleading provider of RFmixed signal circuit and systemdesign software. Agilent ADS offers powerful simulation, schematic and seamless integration with layout and DRC capability for complete fronttoback MMIC design in an integrated flow. For more information about Agilent's EDA solutions, visit www.agilent.com/find/eesof. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as the rapid development of new technology and competing products that may impair demand or render our products obsolete; the risk of uncertain demand and potential lack of customer acceptance for our products and services; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

Cree Announces First Commercially Available GaN RF MMIC Products and MultiProject MMIC Foundry Services DURHAM, N.C. Cree, Inc. (Nasdaq: CREE) announces the introduction of the world’s first commercially available GaN monolithic microwave integrated circuit (MMIC) amplifiers. These two “catalog” MMICs integrate Cree’s proven GaN RF transistor technology with a variety of other circuit elements to form fully integrated amplifier circuits. This allows for a dramatic reduction in size and increase in performance over hybrid amplifiers. Many RF integrated circuits can now be identically replicated on a single silicon carbide (SiC) substrate in a production process similar to that used for commercial microprocessors. The new broadband power amplifier MMICs, the CMPA0060005 and CMPA2560025, are now available for sample release in packaged and die formats. The CMPA0060005 is a wideband 5watt distributed amplifier operating from DC to 6 GHz. The CMPA2560025 is a higherpower, 25watt reactively matched amplifier operating from 2.5 to 6 GHz. Both MMICs are suitable for a variety of applications where high power over broad bandwidths is required. As an example, a pair of CMPA2560025s driven by a CMPA0060005 can provide over 40 dB gain with an output power up to 50 watts in the 2.5 to 6GHz band.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online Cree also announces the expansion of its standard fullwafer (SFW) MMIC Foundry service to include shared multiproject (SMP) “pizza mask” foundry runs on a quarterly basis. This SMP service is available for both SiC MESFET and GaN HEMT MMIC processes. “The introduction of the industry’s first offtheshelf ‘catalog’ GaN MMICs continues to set Cree apart as the industry’s leader in wide bandgap MMIC technology,” said Jim Milligan, Cree director of RF and microwave products. “These products can provide our customers with the performance improvement and sizereduction benefits of microwave circuit integration in convenient ‘dropin’ 50ohm amplifiers. Further, our new SMP foundry service will be ideal for lowercost prototyping of SiC or GaN MMICs by allowing customers to purchase a portion of a shared multiproject wafer.” “This MMIC milestone is the culmination of many years of internal investment and external support from the U.S. Department of Defense, the Title III Office, and the Defense Advanced Research Projects Agency (DARPA). We are extremely pleased to see the results of these efforts beginning to pay off for both the military and commercial markets,” said John Palmour, Ph.D., executive vice president for advanced devices at Cree. Features of the GaN RF MMICs include: CMPA0060005 GaN MMIC * Wideband distributed amplifier covering DC – 6 GHz * Up to 5 watts of CW RF output power * High wideband DC to RF efficiency (typically 25%) * 28 to 48volt operating voltage range CMPA2560025 GaN MMIC * Broadband reactively matched amplifier covering 2.5 – 6 GHz * Up to 25 watts CW RF output power * Outstanding broadband DC to RF efficiency (typically 3045%) * 28volt operating voltage Both of these new GaN MMIC products will be demonstrated at the Cree booth, #1243, at the 2008 IEEE/MTTS International Microwave Symposium in Atlanta, GA, June 1520, 2008. For additional information regarding Cree’s new SMP foundry service or other Cree products and services, please call (919) 2877816 or visit the Cree website at www.cree.com. About Cree, Inc. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as the risk we may encounter delays or other difficulties in ramping up production of our new

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online sample products which are currently available for evaluation and testing purposes only; the risk we may be unable to develop and release commercial products with performance ratings comparable to the development results described above; the risk we may be unable to manufacture products with sufficiently low cost to offer them at competitive prices or with acceptable margins, the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for our products and services; variations in demand for Cree’s products and its customers' products; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

Cree Announces Sample Release of 90W GaN HEMT with Record Wideband Amplifier Efficiency DURHAM, N.C. Cree, Inc (Nasdaq: CREE) announces the sample release of a 90W, highly efficient GaN HEMT microwave transistor for generalpurpose military and industrial applications such as electronic warfare, radar, tactical radios and EMC applications. This transistor provides superior performance over wide bandwidths compared to other technologies such as GaAs MESFET or Si LDMOSFET. The new transistor, CGH40090PP, consists of a pair of GaN HEMT transistors providing over 90 watts of saturated power in a small, industrystandard Gemini ceramicmetal package. The exceptional performance of the transistor has been demonstrated in a balanced 500MHz to 2500MHz instantaneous bandwidth reference amplifier that offers 14 dB typical smallsignal gain, 90 watts typical CW output power, and typical drain efficiencies of 55% over the entire band. This amplifier provides the bestknown efficiency in the industry for any 5:1 bandwidth amplifier over this frequency range and power level. “The CGH40090PP is an important addition to our generalpurpose GaN HEMT product family that can be used in either pushpull or balanced amplifier designs. We are especially pleased that the reference design amplifier demonstrates stateoftheart efficiency over such a wide frequency range. It is another example of how Cree’s GaN HEMT products can enable highly efficient systems for our customers the more efficient the amplifier, the less heat generated. This can positively impact system thermal design, cooling costs, size and weight, and DC power distribution,” said Jim Milligan, director of RF and microwave products at Cree. The CGH40090PP complements the range of Cree’s broadband GaN HEMT generalpurpose microwave transistors now available at power levels of 10W, 25W, 35W, 45W and 90W. Please call (919) 2877816 or visit the Cree website at www.cree.com for more information about Cree’s GaN HEMT devices. Data sheets and sample ordering are also available: http://www.cree.com/products/wireless_products.asp About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as the risk we may encounter delays or other difficulties in ramping up production of our new sample products which are currently available for evaluation and testing purposes only; the risk we may be unable to develop and release commercial products with performance ratings comparable to the development results described above; the risk we may be unable to manufacture products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for the products; variations in demand for Cree’s products and its customers' products; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

Cree Introduces Industry’s First GaN HEMT Products for Use in 5GHz WiMAX Applications DURHAM, N.C. Cree, Inc (Nasdaq: CREE) announces the sample release of two breakthrough gallium nitride (GaN) HEMT transistors for use in WiMAX applications covering the 4.9 to 5.8GHz frequency band. The new transistors, CGH55015F and CGH55030F, are the first released GaN HEMT WiMAX products specified to operate at up to 5.8 GHz, a performance level that further demonstrates Cree’s leadership in GaN technology. Significant potential benefits offered by the new 15watt and 30watt devices include: * A fourfold increase in efficiency compared with similar power level GaAs MESFET devices * Elevated frequency operation compared with commercially available silicon LDMOS * Operational capability in the licenseexempt 5.8 GHz ISM (industrial, scientific and medical) band as well as 5.3GHz and 5.47GHz UNII (Unlicensed National Information Infrastructure) bands * Superior linearity of better than 2.5% EVM at average power under a WiMAX signal at 25% drain efficiency covering an instantaneous bandwidth of 5.5 to 5.8 GHz. Both transistors are available with “reference design” amplifier platforms. As business and residential customers continue to demand increased capacity and functionality for wireless networks, these transistors can enable efficient power amplifiers in small basestation formats (access points) for lastmile service utilizing WiMAXbased architectures. Such outdoor units can allow Internet service providers to maximize their ROI on spectrum due to the ability to offer tiered services (enabled by improved quality of service and wider channel bandwidths) to hundreds of broadband users from a single access point. “The CGH55015F and CGH55030F are two great examples of new GaN transistors Cree developed to support the higher operational frequency and stringent efficiency and linearity requirements needed to enable nextgeneration WiMAX base stations and access points,” said Jim Milligan, Cree’s director of RF and microwave products. “These 5GHz transistors complement the CGH35060 product that we are also releasing now to round out our 3.5GHz GaN HEMT WiMAX product line. This 60watt product is a direct result of customer feedback and offers customers greater flexibility for 3.5GHz WiMAX applications, particularly in Europe where remote radio heads (RRHs) are increasingly being used.” Additional information about the Cree products may be obtained by calling Cree at 9192877505 or by visiting www.cree.com. About Cree

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as the risk we may encounter delays or other difficulties in ramping up production of our new sample products which are currently available for evaluation and testing purposes only; the risk we may be unable to develop and release commercial products with performance ratings comparable to the development results described above; the risk we may be unable to manufacture products with sufficiently low cost to offer them at competitive prices or with acceptable margins, the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for the products; variations in demand for Cree’s products and its customers' products; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

Cree Announces Patent Agreement With Toyoda Gosei DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces that it has entered into an agreement with Toyoda Gosei providing the companies (including wholly owned affiliates) with access to each other’s patented LED chip and packaged LED technology (including white LED technology). Toyoda Gosei and Cree have agreed in the future to discuss “have made” rights for LED chips. Cree and Toyoda Gosei both hold broad and substantial optoelectronic patent portfolios. The agreement will make it easier for both companies to develop and manufacture LED products without concern for the other’s patents. “Cree and Toyoda Gosei are responsible companies that respect the intellectual property rights of others and strive to enhance the development of LED technology,” said Chris James, Cree vice president of marketing and business development. “The agreement highlights the importance of intellectual property in the LED marketplace and helps to alleviate the IP concerns of LED customers.” Other terms of the patent agreement were not disclosed but are not expected to have any material financial effect on either party. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED down lights, lightingclass power LEDs, highbrightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online For additional product and company information, please refer to www.cree.com. About Toyoda Gosei Founded in 1949, Toyoda Gosei is a customerdriven, global company that researches, develops and manufactures products of exceptional quality for a variety of fields within the automotive industry. Toyoda Gosei initiated its LED research and development in 1986 and in 1991 successfully developed the world’s first blue LEDs based on gallium nitride. The company’s optoelectronic business has continued to develop and grow and Toyoda Gosei is a leading innovator and patent holder in the solidstate lighting industry. Today the company manufactures thousands of millions of blue, green, purple and white LEDs with worldleading luminous intensity. To meet the growing need for environmentally friendly light sources, the company continues to develop LEDs to meet the performance and functional requirements for applications that include cellular phones, full color displays, traffic signals, automobiles and general lighting. Toyoda Gosei is headquartered in Aichi, Japan, with 44 facilities in 16 countries. Please visit www.toyodagosei.com for more information. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including risks of uncertain product demand; our ability to complete development and commercialization of products under development; the rapid development of new technology and competing products that may impair demand or render products obsolete; and other factors discussed in our filings with the Securities and Exchange Commission, including our report on Form 10K for the year ended June 24, 2007, and subsequent filings.

Cree Demonstrates New XLamp MCE LED Extends LightingClass XLamp LED Performance with MultiChip Package DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces that it is demonstrating the newest addition to its industryleading XLamp® LED family—the XLamp MCE LED—at LIGHTFAIR International in Las Vegas, N.V., May 2830, 2008. The multichip XLamp MCE being demonstrated retains the same 7mm x 9mm footprint as Cree’s existing XLamp XR family LEDs while providing four times the light output of the existing XRE, the highest lumen output for a package of this size. This powerful combination is designed to enable new applications and reductions in overall system cost compared to other LED packages. At 9.8W, the XLamp MCE LED being demonstrated provides up to 790 lumens at 6000K and up to 605 lumens at 3000K. The XLamp MCE LED is being demonstrated in both cool and warm white at Cree’s LIGHTFAIR International Booth #2635. Visitors to LIGHTFAIR can also see the XLamp MCE LED applied in indoor and outdoor luminaire demonstrations at the following booths: * Acuity Brands Lighting, Booth #2301 * KramerLED, Booth #2650 * Light Engine, Booth # 2458 Secondary optics for the Xlamp MCE LED are also being demonstrated by Carclo, booth #1872, Fraen, booth #2911 and Ledil/Marubeni, booth #1795. The XLamp MCE LEDs are targeted to be available for purchase next quarter. “For added design flexibility, our new line of KramerLED luminaires integrates the MCE LED from Cree in combination with our proprietary NanoOptic refractors,” said Kramer Lighting president Al Ruud. “This combination of technology ensures each LED is used to its fullest potential for unsurpassed control, uniformity, and intensity.”

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online “Cree’s XLamp MCE LED is a lightingclass solution designed to enable applications that require high lumen output in a small footprint,” said Norbert Hiller, Cree vice president and general manager for lighting LEDs. “Customers can increase design flexibility and reduce overall system cost over other, lower fluxoutput LED packages, without compromising on quality.” For more information about Cree XLamp MCE LEDs, visit www.cree.com/MCE . About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED down lights, lightingclass power LEDs, high brightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as the risk we may be unable to release commercial products with performance ratings comparable to the demonstration results described above; the possibility we may be unable to manufacture these products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the possibility that actual cost savings may vary from expectations; the potential lack of customer acceptance of the products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

Cree, Inc. to Webcast Upcoming Conference Presentation DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications, today announced it will webcast its upcoming presentation at the Oppenheimer Annual Communications & Technology Conference. John Kurtzweil, executive vice president and chief financial officer, will provide a company overview at the conference on Tuesday, June 3, at 9:10 a.m. ET. A webcast of the presentation will be available live and by replay. To access both the live and archived webcasts, as well as the slide presentation used during the conference, please go to www.cree.com and click on the Investor Relations link. The archived replay will be available 24 hours after the live presentation and will be accessible for two weeks. About Cree, Inc. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED down lights, lightingclass power LEDs, high brightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product specifications please refer to www.cree.com .

Cree Announces Volume Shipments of LR4 Recessed LED Down Lights DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces volume shipments in May of the LR4, a fourinch architectural recessed LED down light for new construction and renovation projects. The LR4 has been specified in a number of significant projects, including corporate campuses, fullservice hotels, and global restaurant chains. “The ecofriendly LR4 lighting system helps create a warm and comfortable environment for our guests while reducing our energy and maintenance cost,” said Steve Eckley, VP of Operations at Amerimar, Inc., developer of the Hutton Hotel in Nashville, TN, an early LR4 installation. The LR4 delivers up to 540 lumens of highquality light from less than 11 watts of power and features: * A color rendering index (CRI) of up to 94, * Two available color temperatures, warm white (2,700K) and neutral (3,500K) * Two available shield angles, 15º and 30º, and * Dimmable design, including compatibility with Lutron Electronics products. These features provide an exceptional lighting experience, enhancing the appearance of room surfaces, furnishings and merchandise. The LR4 also provides a wide range of application flexibility allowing designers to precisely deliver light to surfaces within the visual environment. “Cree has demonstrated the LR4 to hundreds of customers throughout the world and the feedback has been exceptionally strong,” said Neal Hunter, president, Cree LED Lighting Solutions. “Customers praise the beautiful color common to all Cree Lighting products and emphasize its architectural appeal, including the highquality finishes and materials, soft and uniform appearance, and effective light distribution.” Cree is demonstrating its full portfolio of LED Lighting Solutions products at LIGHTFAIR International in Las Vegas, NV, May 2830, 2008. Visitors to LIGHTFAIR can visit booths #1981 and #2635 to experience environments illuminated by Cree’s: * LR4, fourinch recessed LED down light * LR6, sixinch recessed LED down light * LR24, twofoot by twofoot architectural luminaire About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED down lights, lightingclass power LEDs, high brightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.CreeLLS.com.

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk that construction specifications may not result in actual orders; the possibility that actual energy saving may vary from expectations; the potential lack of customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

Cree Announces Extension and Increase of Stock Repurchase Program DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications, today announced that its board of directors approved the extension of the company’s stock repurchase program through the fiscal year ending June 28, 2009. The board also approved an increase in the number of shares the company is authorized to repurchase under the program. As of May 15, 2008, the company is authorized to repurchase up to 5,000,000 shares. The company has repurchased 1,567,500 shares during the current quarter. Cree expects to use available cash to finance purchases under the program. The program can be implemented through open market or privately negotiated transactions at the discretion of the company’s management. The company will continue to determine the time and extent of any repurchases based on its evaluation of market conditions and other factors. About Cree, Inc. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include LED recessed down lights, lightingclass power LEDs, high brightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product specifications please refer to www.cree.com. Cree and the Cree logo are registered trademarks of Cree, Inc. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including fluctuations in the market price of Cree’s common stock and other market conditions, the difficulty of predicting Cree’s future cash needs which may turn out to be different from what Cree expects, the nature of other investment opportunities available to Cree from time to time, Cree’s cash flow from operations, and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the fiscal year ended June 24, 2007, and subsequent filings.

Cree Expands XLamp® XRC LED Family to Include Full Range of HighPerformance Colors

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, has expanded its family of XLamp® XRC highpower LEDs to include Royal Blue, Blue, Green, Amber, RedOrange and Red. These LEDs are available in production quantities. Standard flux order codes at 350 mA are available up to: * 350 mW in Royal Blue, * 23.5 lm in Blue, * 67.2 lm in Green, * 51.7 lm in Amber, RedOrange and Red. The XRC color LEDs feature the same isolated thermal path, low thermal resistance and high reliability as the white LEDs in the XRC family. They also offer a smooth upgrade path for customers looking to use the same footprint as the XR products. “We are extending our industryleading XLamp LED portfolio with new, higherperformance, lowerprice options in the XR family form factor,” said Paul Thieken, Cree director of marketing for lighting LEDs. “Cree enables design flexibility for color LED applications with consistent drive currents and footprints throughout the XLamp XRC and XRE LED families.” For additional information on XLamp XRC color LEDs, please visit www.cree.com/xlamp. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include LED recessed down lights, lightingclass power LEDs, high brightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as the potential lack of customer acceptance for the products; variations in demand for Cree’s products and its customers’ products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

Cree Reports Financial Results for the Third Quarter of Fiscal Year 2008 DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications, today announced revenue of $125.0 million for its fiscal third quarter ended March 30, 2008. This represents a 5% increase compared to the fiscal second quarter of 2008 and a 38% increase compared to revenue of $90.3 million reported for the third fiscal quarter last year. GAAP net income for the third quarter was $5.7 million, or $0.06 per diluted share, compared to net

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online income of $21.1 million or $0.27 per diluted share for the third quarter of fiscal 2007. The acquisition of LED Lighting Fixtures, Inc., which closed during the quarter, increased revenue by $0.7 million and reduced earnings by $0.01 per diluted share. The remainder of this press release highlights the company’s financial results on both a GAAP and a nonGAAP basis. The GAAP results include certain costs, charges, gains and losses which are excluded from nonGAAP results. By publishing the nonGAAP measures, management intends to provide investors with additional information to further analyze the company's performance, core results and underlying trends. Cree’s management evaluates results and makes operating decisions using both GAAP and nonGAAP measures included in this press release. NonGAAP results are not prepared in accordance with GAAP, and nonGAAP information should be considered a supplement to, and not a substitute for, financial statements prepared in accordance with GAAP. Investors and potential investors are encouraged to review the reconciliation of nonGAAP financial measures to their most directly comparable GAAP measures attached to this press release. GAAP earnings of $0.06 per diluted share includes expenses totaling $6.4 million, net of tax, or $0.07 per diluted share due to certain items. These items consist of amortization of acquired intangibles of $0.04 per diluted share and stockbased compensation expense of $0.03 per diluted share. On a nonGAAP basis, adjusted to exclude these items, net income for the third quarter of fiscal 2008 was $12.0 million, or $0.14 per diluted share. On a nonGAAP basis, adjusted to exclude similar items as in fiscal 2008 and a nonrecurring tax benefit of $0.22 per diluted share, net income for the third quarter of fiscal 2007 was $4.7 million, or $0.06 per diluted share. “Cree’s strategy to drive revenue growth by focusing on LED lighting continued to pay dividends in Q3, as we delivered financial performance that was in line with our previously announced guidance,” stated Chuck Swoboda, Cree Chairman and CEO. “Revenue growth was led by higher sales of LED components, which exceeded sales of LED chips for the first time. In addition, we took another bold step in leading the LED lighting revolution with our acquisition of LED Lighting Fixtures, which positions us even better to drive the adoption of LED lighting going forward. For Q4, we target growth from XLamp® LEDs, highbrightness LED components and our new LED lighting solutions, all of which are benefitting from the rising demand for energyefficient LED lighting.” Recent Business Highlights: *Acquired LED Lighting Fixtures, which is recognized in the lighting industry as the first company to develop a viable, energyefficient, “nocompromise” retrofit LED down light for general illumination. The acquisition: Expands Cree’s market opportunity by providing direct access to the lighting market Enables Cree to drive retrofit solutions to convert existing lighting infrastructure to energyefficient lighting and to accelerate the adoption of LED lighting Sets the stage for Cree to help obsolete the light bulb * Announced that Austin, TX, and the Tianjin Economic Development Area (TEDA) in China will join the growing LED City™ initiative. Austin plans to evaluate and deploy stateoftheart LED lighting technology across its municipal infrastructure and is offering rebates that cover approximately 30 percent of the upfront cost of LEDs to help businesses explore the benefits of this new technology. The TEDA is the first city area in China to join the program and has partnered with Tianjin Polytechnic University to develop the expertise necessary to accelerate the adoption of LED lighting in China. Q3 2008 Financial Metrics: * Gross margin was 35% of revenue. * Cash flow from operations was $5.5 million. * Cash and investments increased $36.4 million to $398.3 million from Q2.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online Business Outlook: For its fourth quarter of fiscal 2008 ending June 29, 2008, Cree targets revenue in a range of $129 million to $133 million with GAAP earnings of $0.04 to $0.06 per diluted share and nonGAAP earnings of $0.12 to $0.14 per diluted share, based on an estimated 91 million diluted weighted average shares. Targeted nonGAAP earnings exclude expenses related to the amortization of acquired intangibles of $3.6 million, net of tax, and stockbased compensation expense of $3.6 million, net of tax. Our GAAP and NonGAAP earnings targets reflect approximately $0.04 and $0.03 per diluted share, respectively, representing expected lower interest income, higher patent litigation expense and the dilution resulting from our acquisition of LED Lighting Fixtures, Inc. Cree will host a conference call at 5:00 p.m. Eastern time today to review the highlights of the fiscal third quarter 2008 results and the fiscal fourth quarter 2008 business outlook, including significant factors and assumptions underlying the targets noted above. The conference call will be available to the public through a live audio web broadcast via the Internet. Log on to Cree’s website at www.cree.com and go to “Investor Relations — Overview” for webcast details. The call will be archived and available on the website through May 6, 2008. Supplemental financial information, including the nonGAAP reconciliation discussed below, is available in the “Investor Relations” section of Cree’s website, under “Financial Metrics,” “Quarter ending March 30, 2008”, at http://www.cree.com/investor/metrics.asp. About Cree, Inc. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include blue and green LED chips, high brightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product specifications please refer to www.cree.com. The schedules attached to this release are an integral part of the release. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results, including with respect to our targets and prospects, could differ materially due to a number of factors, including our ability to complete development and commercialization of products under development, such as our pipeline of brighter LED chips, LED components and LED lighting retrofit solutions; our ability to lower costs; potential changes in demand; increasing price competition in key markets; the risk that, due to the complexity of our manufacturing processes and transition of production to larger wafers, we may experience production delays that preclude us from shipping sufficient quantities to meet customer orders or that result in higher production costs and lower margins; risks associated with the rampup of our production for our new products, as well as production at our Huizhou facility and subcontractors; risks resulting from the concentration of our business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for our products; risks associated with our recent acquisition; risks associated with ongoing litigation; and other factors discussed in our filings with the Securities and Exchange Commission, including our report on Form 10K for the fiscal year ended June 24, 2007, and subsequent reports filed with the SEC. Except as required under the U.S. federal securities laws and the rules and regulations of the SEC, Cree disclaims any obligation to update any forwardlooking statements after the date of this release, whether as a result of new information, future events, developments, changes in assumptions or otherwise.

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Universities Switch to LED Lighting to Help Save Energy, Reduce Costs and Protect the Environment Cree Announces LED University Program with North Carolina State University, Marquette University, University of California at Santa Barbara, University of Arkansas and Tianjin Polytechnic University DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a leader in LED (lightemitting diode) lighting, announces the launch of the LED University™ program, an international community of universities working to accelerate the adoption of energyefficient LEDs. In addition to evaluating, promoting and deploying LED lighting, the community of universities plans to work toward increasing energy savings, protecting the environment, reducing maintenance costs and providing a better light quality for improved visibility and safety. Inaugural participant North Carolina State University along with Marquette University, University of California at Santa Barbara, University of Arkansas and Tianjin Polytechnic University in China have committed to evaluating and deploying LED lighting in areas such as offices, dormitories, parking garages, walkway lighting and streets across their campus infrastructures. Each of the participating universities is conducting LED lighting pilots to determine the cost and environmental benefits of switching to LED lighting in campus applications. Initial installations include: * NC State University installed LED recessed can lighting from Cree in the chancellor’s office and a dormitory, and is installing LED parking garage lighting from BetaLED. * Marquette University installed LED T8 replacements from LED Dynamics in the vice president for administration’s office and is installing LED recessed and task lighting. * U.C. Santa Barbara installed 23 LED streetlights from BetaLED on a campus street and reports that compared to its traditional streetlights, it is achieving a 44 percent reduction in energy use as well as better light distribution and color rendition. * University of Arkansas has installed the first set of what it plans will be approximately 1,700 recessed LED lights from Cree in university buildings, starting with lighting the chancellor’s residence. * Tianjin Polytechnic University installed 1,500 LED streetlights designed by its graduate students on the campus’ main roadway. “Our commitment to become the first university in Cree’s LED University initiative marks an important milestone for NC State University. Part of our mission is to develop and implement realworld solutions that have global impact,” said James Oblinger, chancellor of North Carolina State University. “NC State has a strong heritage in energy research and conservation – including LED research. We are proud to note that Cree was founded by NC State graduates based on research work conducted in our engineering labs. It’s the basis for our commitment to this partnership. By joining the LED University initiative, we are making a longterm investment in an energy efficient future for NC State.” “As a Catholic, Jesuit university, stewardship of the earth’s natural resources is an important part of our mission. By participating in the LED University initiative, we’re able to develop and share research on new lighting technology, helping Marquette and other universities throughout the world contribute to a more energyefficient future,” said Art Scheuber, vice president for administration at Marquette. “The University of Arkansas is pleased to participate in the LED University program. Our LED lighting applications are environmentally friendly, energy efficient, they provide high quality light, and are expected to reduce maintenance

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online costs,” said Nick Brown, Ph.D., executive assistant for Sustainability at University of Arkansas. “Outfitting our new buildings with LED is one of many steps that we are taking to make our campus sustainable and energy efficient. We look forward to adopting this technology widely across our campus, in both indoor and exterior applications.” “Both the university administration and student body are especially interested in advancing the use of LED lighting at our university and beyond,” said Pingjuan Niu, Ph.D., Tianjin Polytechnic University professor. “Lighting is a significant energy drain worldwide and if we can significantly reduce the amount of energy used for lighting, we will make a dramatic contribution to protecting our resources and environment. Tianjin Polytechnic University is proud to be among the first to join this important lighting and energy conservation initiative.” About LED University The LED University initiative is a growing international community of universities working to evaluate, deploy and promote LED lighting across their campus infrastructures to save energy, protect the environment, reduce maintenance costs and provide better light quality for improved visibility and safety. According to the U.S. Department of Energy, 22 percent of electricity used in the U.S. powers lighting. In a world with soaring energy prices based on the availability and control of fossil fuels, and with growing concern about sustainability of the environment, a revolution in lighting is long overdue. Details of each university’s LED lighting pilots and installations are available on the LED University web site: www.leduniversity.org. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include blue and green LED chips, high brightness LEDs, lightingclass power LEDs, LED recessed down lights, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the possibility that actual energy savings may vary from expectations; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree's products obsolete; and other factors discussed in Cree's filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

Cree Expands Network of Solution Providers to Accelerate LED Adoption and Reduce Costs DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces seven new valueadded solution providers have joined the global Cree Solution Provider network. The program, created in November 2007, now includes 21 leading LED solution providers. The Cree Solution Provider network offers Cree XLamp® LED customers a full range of LED lightingsystem design assistance and solutions to help accelerate timetomarket and reduce product development costs. Network members

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online work closely with Cree to help ensure alignment of technologies. They are chosen based on their history of collaborating successfully with customers. The latest additions to the Cree Solution Provider network are: Cooler Master, Ltd.: www.coolermaster.com LEDIKO: www.lediko.com LEDDynamics, Inc.: www.leddynamics.com Light Engine Limited: www.lightenginetech.com MetroSpec Technologies, LLC: www.metrospectech.com Naotek: www.naotek.com XLight, Ltd.: www.xlight.ru “The world is seeking highquality LED lighting now. Creating lightingclass LED systems requires new resources and areas of expertise,” said Bob Pollock, Cree senior vice president of sales. “Cree Solution Providers, using our industryleading XLamp LEDs, are uniquely positioned to provide these capabilities.” Cree Solution Providers offer a wide range of LED lighting services, including: Design consulting Customized design LED engines Turnkey solutions Subassembly Complete assembly For additional information on Cree Solution Providers, please call 9193135300 or visit www.cree.com/csp . About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include recessed LED down lights, blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

Cree Inc. Announces 2008 Third Quarter Earnings Call INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online DURHAM, N.C. Cree Inc. (Nasdaq: CREE) announces the following Webcast: What: Cree Inc.'s Conference Call When: April 22, 2008 @ 5:00 pm Eastern Where: http://www.videonewswire.com/event.asp?id=47279

AwardWinning Cree LR6 LED Downlight Now Available to Homes and Businesses Globally LR6 Delivers EnergyEfficient and Environmentally Safe Lighting DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a leader in LED solidstate lighting, is introducing its flagship LED lighting solution globally, leveraging the success and rapid adoption of its LED downlight in the United States. A new version of the LR6, designed for 220V to 240V electrical systems, is being released to address Europe, Asia, and other major markets. Cree LED Lighting Solutions (Cree LLS) is introducing the 165mm LR6230V at the Light+Building show running from April 6th through 11th in Frankfurt, Germany. The LR6230V is based on Cree’s lightingclass XLamp® LEDs and patented colormixing technology. This combination allows the LR6230V to excel in three critical elements – color quality (CRI Ra 94), efficiency and longevity – delivering unprecedented LED lighting performance. “The high quality of light and the energy efficiency of LEDs enable our fixtures to deliver unprecedented value,” said Neal Hunter, president of Cree LLS. “As part of Cree, we now have an ideal technology platform to advance LED lighting and are expanding the application of our LED products globally.” The LR6 earned recognition as the grand prize winner in a 2007 competition sponsored by the American Lighting Association with performance verified by tests in independent labs under the direction of the U.S. Department of Energy. The assessment praised the LR6 with “high marks for light output and color quality with luminaire efficacy exceeding even the most efficient fluorescent downlights currently available.” The LR6230V uses 12 watts of electricity and produces light comparable to a 75watt incandescent. It uses approximately 85 percent less energy and lasts up to 50 times longer; more than 20 years in homes and 10 years in businesses under normal use conditions. Compared to compact fluorescent (CFL), Cree’s LED lights use 50 percent less energy and last up to five times longer. With Cree LED lighting solutions, home and business owners worldwide have an energyefficient lighting alternative superior to conventional lighting and CFLs and free from the environmental risks from mercury in CFLs. Visitors to the Cree LLS exhibit during the Light+Building show (Hall: 4.2 Walkway: K Stand: 11) will see a sidebyside comparison with conventional incandescent and compact fluorescent products. The company is also previewing its expanding product portfolio with its new 115mm downlight and 600mm x 600mm recessed architectural lights. Cree LLS is currently taking orders for LR6230V and will be shipping production quantities this quarter. Cree LLS is in the process of selecting distribution partners for the European and Middle Eastern markets. About Cree

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include blue and green LED chips, high brightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.CreeLLS.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the possibility that actual energy savings may vary from expectations; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

Cree LED Lighting to Increase Light Quality and Energy Efficiency in IHOP Restaurants Franchisee Says LEDs Superior to CFLs DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED solidstate lighting, announces that the International House of Pancakes (IHOP) franchise in Northern Virginia, owned and operated by Wilhelm Restaurant Group, Inc., has adopted Cree LED lighting products as the preferred lighting for all existing and future restaurants. Since testing began in January, 2008: * More than 100 retrofit LR6 sixinch LED downlights have been installed in two locations, * Six additional locations have retrofit plans in progress, and * Construction plans for a new IHOP have been modified to specify Cree LR6 LED downlights. Paul Belle, vice president Wilhelm Restaurant Group, Inc., wanted to move away from conventional, incandescent lighting toward a more sustainable, energyefficient light. He was considering compact fluorescent lights (CFLs) but changed his mind after seeing Cree’s LED products. “Cree’s LED lights were much more impressive than CFLs,” said Belle. “LED light is more energyefficient, generates less heat, has a longer life, and it’s just a better quality light, in my opinion.” According to Belle, the IHOP employees prefer the LED lighting as it is very bright, easy on their eyes and enhances the general appearance of the food. “The light is not offensive like CFLs can be; the LEDs give off a warm, white light,” Belle said. “The best way I can describe it is to compare the light to a highdefinition television. Everything under the LED lighting appears to have a better clarity, like HDTV versus standard definition. “I would really like to serve as a leader within the IHOP community by demonstrating success within our restaurants and expand the LED program nationally,” Belle said. “It is normal to invest a little more in a new technology, but it’s worth it. Somebody has to be first and I’m glad to be on the cutting edge.” Cree’s LED lighting products use approximately 85 percent less energy and last up to 50 times longer than incandescent lights, and they use 50 percent less energy and last up to five times longer than CFLs. Previously,

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online lighting products in the industry fell short in color quality, efficiency or longevity. Cree has created a dimmable LED lighting solution that leads the industry in a combination of all three critical elements. About Cree Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include blue and green LED chips, highbrightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.CreeLLS.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the possibility that actual energy savings may vary from expectations; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

DigiKey Corporation Now Stocking SiC RF Power MESFETs from Cree THIEF RIVER FALLS, MINN AND DURHAM, N.C. Electronic component distributor DigiKey Corporation and Cree, Inc. (Nasdaq: CREE), a leader in wide bandgap transistors and radio frequency integrated circuits (RFICs), announced today that Cree’s silicon carbide (SiC) MetalSemiconductor FieldEffect Transistors (MESFETs) are now in stock and ready for shipment from DigiKey. DigiKey Corporation is a broadline distributor of electronic components and accessories. DigiKey supports a broad range of customers through its focus on product selection, along with its commitment to stock 100 percent of the products featured in its print catalog. Cree’s 10watt CRF24010 and 60watt CRF24060 are uninternally matched SiC RF transistors, capable of supporting extremely wide operational bandwidths. SiC has superior properties compared to silicon or gallium arsenide, including higher breakdown voltage, higher saturated electron drift velocity, and higher thermal conductivity. SiC MESFETs offer greater efficiency, greater power density, and wider bandwidths. SiC MESFETs are optimized for applications such as wideband military communications, secure homeland defense communications, Class A and A/B amplifiers, TDMA, EDGE, CDMA, WCDMA broadband amplifiers, and WiMAX. Also available from DigiKey are the CRF24010TB and CRF24060TB Demonstration Test Fixtures. These products, featured in DigiKey’s print and online catalogs, are available for purchase and sameday shipping directly from DigiKey. “We are very pleased to offer these quality products to our customers,” said Mark Larson, DigiKey president and COO. “The power density and efficiency advantages of Cree’s MESFETs will enable scores of engineers to enhance the performance of their new designs.”

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online “We are pleased that DigiKey has added our SiC MESFET products to its growing line of electronic components,” said Jim Milligan, Cree director of RF and Microwave products. “Cree’s 48volt products have proven to be extremely useful in applications requiring high power and efficiency over wide operational bandwidths – especially for those operating in high thermal environments. We’re confident the convenience of using DigiKey’s distribution services will help accelerate the adoption of the technology.” About DigiKey Corporation One of the world’s fastest growing distributors of electronic components, DigiKey has earned its reputation as an industry leader through its total commitment to service and performance. As a fullservice provider of both prototype/design and production quantities of electronic components, DigiKey has been ranked #1 for Overall Performance for 16 consecutive years from among the nation’s more than 200 distributors (EE Times Distribution Study/ May 2007). Offering more than a million products from over 400 quality namebrand manufacturers DigiKey’s commitment to inventory is unparalleled. Access to the company’s broad product offering is available 24/7 at DigiKey’s toprated website, www.digikey.com. About Cree, Inc. Cree is a marketleading innovator and manufacturer of semiconductors and devices that enhance the value of solidstate lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree’s market advantage is its worldclass materials expertise in silicon carbide (SiC) and gallium nitride (GaN) for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products. Cree drives its increased performance technology into multiple applications, including exciting alternatives in brighter and more tunable light for general illumination, backlighting for more vivid displays, optimized power management for highcurrent, switchmode power supplies and variablespeed motors, and more effective wireless infrastructure for data and voice communications. Cree customers range from innovative lighting fixture makers to defenserelated federal agencies. Cree’s product families include blue and green LED chips, lighting LEDs, LED backlighting solutions, powerswitching devices and radio frequency/wireless devices. For additional product specifications, please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for the products; variations in demand for Cree’s products and its customers’ products; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2997, and subsequent filings.

Cree Completes Acquisition of LED Lighting Fixtures, Inc. DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED solidstate lighting, today announced that it has completed the acquisition of privately held LED Lighting Fixtures, Inc. (“LLF”). Cree’s agreement to acquire LLF was announced February 8, 2008. At closing, Cree issued 1,852,335 shares of common stock and paid approximately $16.45 million in cash in exchange for LLF shares. Cree also assumed outstanding LLF stock options. Additional cash consideration of up to $26.4 million may be payable over the next three years tied to new product milestones and key employee retention.

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online

INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online This acquisition expands Cree’s market opportunity by providing direct access to the lighting market. Cree's business now encompasses LED chips, components and lighting solutions. It further enables Cree to drive retrofit solutions to convert existing lighting infrastructure to energyefficient lighting and to accelerate the adoption of LED lighting. “The new Cree LED Lighting Solutions team is delivering industryleading LED lighting products and working to set the standard for 21st century energyefficient lighting,” said Chuck Swoboda, chairman and chief executive officer of Cree. “We are out to lead the LED lighting revolution and to obsolete the lightbulb.” The company plans to announce financial results for its third fiscal quarter, ending on March 30, after market close on April 22 and will provide additional information about the acquisition at that time. About Cree, Inc. Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications. Cree’s product families include blue and green LED chips, high brightness LEDs, lightingclass power LEDs, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as the possibility that costs associated with integrating the businesses may be greater than anticipated; the ability of the combined businesses to be integrated successfully with Cree’s current operations; the risk of intellectual property litigation; the ability of the combined companies to achieve targeted results; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s or LLF’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

Tianjin Economic Development Area (TEDA) Becomes First LED City in China TEDA and Tianjin Polytechnic University collaborate with Cree to introduce LED lighting initiative in mainland China TIANJIN, CHINA Cree, Inc. (Nasdaq: CREE), a leader in LED solidstate lighting components, today announced that the Tianjin Economic Development Area (TEDA) in China has joined the LED City™ program. The LED City program is an international initiative to promote and deploy energyefficient LED (lightemitting diode) lighting. TEDA is the first city area in China to join a rapidly growing consortium of cities in evaluating and deploying LED lighting technology across their municipal infrastructures. Over the past two years, TEDA partnered with Tianjin Polytechnic University in a large, studentproduced LED street lighting project. Twenty graduate students, directed by Professor Pingjuan Niu, Ph.D., designed, produced and installed approximately 1,500 LED streetlights. These innovative LED fixtures were installed more than a year ago to illuminate 15 kilometers along the university’s streets.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online “On behalf of TEDA, I am excited to announce our participation in helping to advance the adoption of energyefficient and environmentally sound LED lighting in China,” noted Ai Yaming, TEDA vice chairman. “LED lighting not only reduces significantly the amount of energy we use for illumination, it also does not contain toxic materials such as mercury or lead. In addition to the energy and cost benefits, TEDA and the Tianjin Polytechnic University support the development and manufacturing of highquality LED fixtures in our region for even greater economic benefit.” “Our students’ work speaks for itself,” said Niu, professor of the solidstate lighting R&D center at Tianjin Polytechnic University. “LED technology is the most important new development for energy and cost savings in the lighting industry. Our university, its students and TEDA are developing expertise in making the best quality LED lighting with the intent to help accelerate the adoption of LED lighting in China and to increase the economic opportunity for our region. We are especially proud of our initial successes and participation in the international LED City initiative with Cree.” “We are excited to launch the LED City program in China by welcoming TEDA as our newest participant,” noted Chris James, Cree vice president of marketing. “The LED street lighting project at Tianjin Polytechnic University is impressive in scale and in the level of quality achieved by Dr. Niu and her students. We encourage other Chinese cities and universities to join with these innovators to help us work to significantly reduce the amount of energy used for lighting throughout the world and to accelerate the adoption of this new technology through innovative design and manufacturing here in China.” About LED City The LED City is an expanding community of government and industry parties working to evaluate deploy and promote LED lighting technology across the full range of municipal infrastructure to: * Save energy * Protect the environment * Reduce maintenance costs * Provide better light quality for improved visibility and safety According to the U.S. Department of Energy, 22 percent of electricity used in the U.S. powers lighting. In a world with soaring energy prices based on the availability and control of fossil fuels, and with growing concern about sustainability of the environment, a revolution in lighting is long overdue. About Tianjin and Tianjin Economic Development Area Tianjin is China’s third largest city, an independent municipality with a population of 9.5 million that is a major commercial and industrial center as well as the biggest port in north China. About 137 kilometers (85 miles) southeast of Beijing, Tianjin is situated at the confluence of five tributaries of the Haihe River, 50 km from the Gulf of Bohai. Tianjin is best known for its streetscapes of colonialera buildings, a residue of its status as a Treaty Port after 1858. Now a center of multinational businesses concentrated in the new satellite city known as TEDA (Tianjin Economic Development Area), Tianjin has an extensive modern infrastructure, and is known for the high quality of its industrial products. About Tianjin Polytechnic University Tianjin Polytechnic University was founded in 1912, providing an education program for bachelor, master’s, doctorate and postdoctorate degrees. The campus occupies 600,000 square meters with 310,000 square meters of floor space in Tianjin City. The Tianjin Polytechnic University is also the location for the Ministry of Education labs, which are the home to the national postdoctoral research station. The University has 14 faculties with a total enrollment of over 15,000 students in the undergraduate, master’s and doctoral programs. Tianjin Polytechnic University is involved in

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online international educational programs with 50 universities located in Japan, Germany, Canada, the US and 20 other countries. About Cree, Inc. Cree is a marketleading innovator and manufacturer of semiconductors and devices that enhance the value of solidstate lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree’s market advantage is its worldclass materials expertise in silicon carbide (SiC) and gallium nitride (GaN) for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products. Cree’s product families include blue and green LED chips, lighting LEDs, LEDs for backlighting, powerswitching devices and radiofrequency/wireless devices. For additional product specifications please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the possibility that actual energy savings may vary from expectations; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

Hong Kong Council of Social Service Honors Cree’s COTCO Cree Subsidiary Recognized for Dedication to Community Involvement and Notable Environmental Stewardship DURHAM, N.C. AND HONG KONG Cree, Inc. (Nasdaq: CREE), a marketleader in LED solidstate lighting components, today announced that its subsidiary, COTCO Luminant Device Limited, (now Cree Hong Kong Limited) has been honored with Hong Kong’s Caring Company Logo 20072008. The logo distinction – bestowed by the Hong Kong Council of Social Service – awards professional bodies and other organizations for community involvement and commitment to corporate citizenship. Last year, the award was given to more than a thousand companies, including ExxonMobil Hong Kong Limited, Chevron Hong Kong Limited and Microsoft Hong Kong Limited. Cree is a global leader in energyefficient LED technology that can significantly reduce lighting energy consumption and helps to protect the environment. The Caring Company Logo specifically acknowledges Cree’s abilities in the following areas: caring for the environment, providing an employeefriendly working environment and assisting nonprofit organizations through mentorship and donations. The Caring Company is a project within the Hong Kong Council of Social Service, which coordinates nongovernmental organizations in the social service field in Hong Kong. The Council builds relationships between the business and social service sectors – and promotes social welfare to assist the general public – in order to advocate a caring society. “As more and more companies take action around corporate citizenship, their resources are directed to enhancing community life and preserving the environment,” said Richard Sy, Cree Hong Kong’s managing director. “This award represents Cree’s mission to improve the lives of individuals and foster growth both locally and globally.” This is the second year COTCO has been honored with the Caring Company Logo. The award will be presented during the Caring Company recognition ceremony on Feb. 21, 2008, in the worldclass Hong Kong Convention and Exhibition Center.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online About Cree Cree is a marketleading innovator and manufacturer of semiconductors and devices that enhance the value of solidstate lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree’s market advantage is its worldclass materials expertise in silicon carbide (SiC) and gallium nitride (GaN) for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products. Cree drives its increased performance technology into multiple applications, including exciting alternatives in brighter and moretunable light for general illumination, backlighting for morevivid displays, optimized power management for highcurrent, switchmode power supplies and variablespeed motors, and moreeffective wireless infrastructure for data and voice communications. Cree customers range from innovative lightingfixture makers to defenserelated federal agencies. Cree’s product families include blue and green LED chips, lighting LEDs, LED backlighting solutions, powerswitching devices and radiofrequency/wireless devices. For additional product specifications please refer to www.cree.com .

Cree to Acquire LED Lighting Fixtures, Inc. Will further LED lighting revolution and accelerate adoption DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED solidstate lighting components, today announced the signing of a definitive agreement to acquire privatelyheld LED Lighting Fixtures, Inc. (LLF) in a cash and stock transaction valued at approximately $77 million, plus up to an additional $26.4 million over a threeyear period. LLF is pioneering the development of LED lighting retrofit products and is recognized in the lighting industry as the first company to develop a viable, energyefficient, “nocompromise” LED down light for general illumination. This awardwinning product is being used in commercial and residential applications and is based on the combination of Cree’s lightingclass XLamp® LEDs and LLF’s patented colormixing technology that produces both very high efficiency and superior color quality. The acquisition will expand Cree’s market opportunity by providing direct access to the lighting market. It will enable Cree to drive retrofit solutions to convert existing lighting infrastructure to energyefficient lighting and to accelerate the adoption of LED lighting. With this acquisition, Cree's business will encompass LED chips, components and lighting solutions. “The combination of Cree’s lightingclass LEDs and LLF’s lightingsystems technologies should set the stage for Cree to obsolete the light bulb, a 19th century invention that wastes energy and pollutes our environment," said Chuck Swoboda, chief executive officer of Cree. “We believe the market is at a tipping point, with billions of sockets in existing fixtures now addressable with energyefficient LED lighting. Accelerating this market transformation benefits Cree, our LED customers and lighting consumers.” Under the terms of the agreement, Cree will acquire LLF for approximately $77 million U.S., which is comprised of a combination of cash and stock, to be determined at closing. For the stock portion, the number of shares will be based on the average Cree closing share price over the last twenty trading days, which is $28.32 per share. Cree has also agreed to pay up to $26.4 million dollars of additional consideration tied over the next three calendar years to new product milestones and keyemployee retention. In fiscal 2009 the Company targets this acquisition to add approximately $30 million of revenue from the combination of growing LLF product sales and synergies with Cree’s other LED product lines. The Company forecasts for fiscal 2009 on a GAAP basis that the acquisition would be slightly dilutive to earnings per share, and slightly accretive to earnings per share on a nonGAAP basis, which excludes amortization of acquired intangibles and stockbased compensation. The transaction is targeted to close in early March 2008. Providing the transaction closes at that time, the Company targets that this acquisition will add

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online approximately $1 million to its consolidated revenue and reduce earnings per share by approximately $0.01 for its third fiscal quarter. LLF will be renamed Cree LED Lighting Solutions. Neal Hunter, chairman and chief executive officer of LLF and Cree cofounder, will rejoin Cree as president of Cree LED Lighting Solutions. The remainder of the LLF management team will continue in their roles within the organization. "Cree is as passionate as we are about moving the lighting market forward and making an impact on energy consumption into the next decade and beyond," said Hunter, LLF chairman and chief executive officer. “This acquisition should make Cree a powerful force for innovation around cuttingedge LED lighting solutions that are unmatched in the industry." Conference Call Cree management will host a financial analyst and investor conference call today at 8:30 a.m. Eastern. The call can be accessed from the U.S./Canada at (800) 3741789 FREE or outside the U.S./Canada at (706) 6342421 with conference call ID 33738227 and is also available via webcast. To access the webcast through the Cree, Inc. corporate website, please log on to http://www.cree.com, click on the Investor Relations tab, then click on the webcast information. (Note: Please log on 15 minutes prior to the start of the webcast.) A replay of the call will be available from the U.S./Canada at (800) 6421687 FREE and from outside the U.S./Canada at (706) 6459291 with conference call ID 33738227, as well as at the web address listed above, and will be available until midnight ET on February 21, 2008. About LLF LED Lighting Fixtures, Inc. (LLF), founded in 2005, is a privately held company headquartered near Research Triangle Park, North Carolina. Its mission is to accelerate the adoption and evolution of lightemitting diodes (LEDs) into highvolume general lighting applications so that consumers can realize lower energy and maintenance costs. LED lighting is significant as it is expected to provide decades of lifetime under normal operation, and it uses a fraction of the power required for traditional lighting solutions. For additional product specifications, please refer to www.llfinc.com. About Cree Cree is a marketleading innovator and manufacturer of semiconductors and devices that enhance the value of solidstate lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree’s market advantage is its worldclass materials expertise in silicon carbide (SiC) and gallium nitride (GaN) for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products. Cree drives its increased performance technology into multiple applications, including exciting alternatives in brighter and moretunable light for general illumination, backlighting for morevivid displays, optimized power management for highcurrent, switchmode power supplies and variablespeed motors, and moreeffective wireless infrastructure for data and voice communications. Cree customers range from innovative lightingfixture makers to defenserelated federal agencies. Cree’s product families include blue and green LED chips, lighting LEDs, LED backlighting solutions, powerswitching devices and radiofrequency/wireless devices. For additional product specifications please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as the possibility that the proposed acquisition will not be completed or will be delayed; the

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online possibility that costs associated with integrating the businesses may be greater than anticipated; the ability of the combined businesses to be integrated successfully with Cree’s current operations; the risk of intellectual property litigation; the ability of the combined companies to achieve the targeted results; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s or LLF’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

Cree, Inc. to Webcast Upcoming Conference Presentations DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a marketleading innovator of semiconductors that enhance the value of solidstate lighting, power and communications products, today announced it will webcast its presentation at two upcoming conferences. John Kurtzweil, executive vice president and chief financial officer, will provide a company overview at the 2008 Credit Suisse Energy Summit on Thursday, February 7, at 12:40 p.m. ET, and Chuck Swoboda, Chairman and CEO, will provide a company overview at the Piper Jaffray Clean Technology & Renewables Conference on Wednesday, February 20, at 10:30 a.m. ET. A webcast of each presentation will be available live and by replay. To access both the live and archived webcasts, as well as the slide presentation used during the conference, please go to www.cree.com and click on the Investor Relations link. The archived replays will be available 24 hours after the live presentation and will be accessible for two weeks. About Cree, Inc. Cree is a marketleading innovator and manufacturer of semiconductors and devices that enhance the value of solidstate lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree’s market advantage is its worldclass materials expertise in silicon carbide (SiC) and gallium nitride (GaN) for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products. Cree drives its increased performance technology into multiple applications, including exciting alternatives in brighter and moretunable light for general illumination, backlighting for morevivid displays, optimized power management for highcurrent, switchmode power supplies and variablespeed motors, and moreeffective wireless infrastructure for data and voice communications. Cree customers range from innovative lightingfixture makers to defenserelated federal agencies. Cree’s product families include blue and green LED chips, lighting LEDs, LEDs for backlighting, powerswitching devices and radiofrequency/wireless devices. For additional product specifications please refer to www.cree.com .

Austin Joins Growing Network of LED Cities to Promote and Deploy EnergyEfficient Lighting Technology Austin Energy, the Nation’s 10th Largest CommunityOwned Electric Utility, Expands Rebate Program to Include LED Lighting AUSTIN, TX Cree, Inc. (Nasdaq: CREE), a leader in LED solidstate lighting components, announced that the City of Austin today joined the LED City™ program. The LED City program is an international initiative to deploy and promote energyefficient LED (lightemitting diode) lighting. Austin joins Toronto, Raleigh, NC, and Ann Arbor, MI, in evaluating and deploying stateoftheart LED lighting technology across their municipal infrastructures. In December 2007, the City of Austin and Austin Energy retrofitted a floor of the One Texas Center Parking Garage with 47watt LED fixtures from Beta LED™. LED fixtures have also been installed in a hallway at Austin Energy headquarters, in streetlights on Barton Springs, in the Palmer Events Center marquee sign and in the water fountain

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online at the new Palmer Events Center Park. Additional test installations are planned throughout the City, including a portion of the lights surrounding the Lady Bird Lake Hike and Bike Trail. These installations demonstrate Austin Energy’s significant commitment to installing highquality, energyefficient LED lighting throughout the City. “One of the workhorses in the City’s lighting inventory is the 250watt High Pressure Sodium Cobrahead roadway fixture. We plan to evaluate LED solutions that have the potential to reduce energy consumption by 47 to 90 percent over traditional lighting solutions,” notes Austin Mayor Will Wynn. “Just by retrofitting 5,000 streetlights – a mere portion of all of the streetlights within the City – the City could realize savings of up to $500,000 a year. And that doesn’t include additional maintenance and labor cost savings if we won’t be sending out a worker in a boom truck an additional 67 times just to change a light bulb. “The total wattage of the LED garage light installation is about 30 percent below the allowable wattage as required by the Energy Code Allowance,” notes Wynn. “This represents a savings of $6,795 a year in utility costs compared to the Code Allowance. Because LEDs typically last 57 times longer than the prior fixture bulbs, the City anticipates it could achieve an additional savings of $27,000 in replacement lamp costs over the life of the LEDs. The combined annualized savings to the City could be $10,178 per year with a simple payback of 6.5 years. This lighting strategy is part of our efforts to achieve Energy Star and LEED Accreditation for City of Austin buildings. LEDs represent a new, exciting technology that can help us achieve the ambitious goals we have established through our Climate Protection Plan.” “Austin Energy has a $17millionperyear rebate program that encourages commercial and home energy customers to purchase and use products that provide significant energy savings,” said Roger Duncan, Austin Energy’s interim general manager. “Our LED lighting rebate of $300 perkilowattofcapacityreduced aims to cover about 30 percent of the upfront cost of LEDs to help businesses explore the benefits of this new technology.” In 2003, the City of Austin retrofitted over 5,200 traffic signals and 3700 pedestrian signals with LEDs. The wattage of the traffic signals was reduced from 135 watts to 1115 watts each – a 90percent reduction. The awardwinning retrofit has realized a savings of 7.25 million kilowatthours per year, removed 830 kilowatts of demand load from the City grid, and the City estimates it has saved taxpayers $1.4 million per year plus additional maintenance and labor savings. About LED City The LED City is an expanding community of government and industry parties working to evaluate deploy and promote LED lighting technology across the full range of municipal infrastructure to: * Save energy * Protect the environment * Reduce maintenance costs * Provide better light quality for improved visibility and safety According to the U.S. Department of Energy, 22 percent of electricity used in the U.S. powers lighting. In a world with soaring energy prices based on the availability and control of fossil fuels, and with growing concern about sustainability of the environment, a revolution in lighting is long overdue. About Austin, Texas Austin is the capital of the U.S. state of Texas, the county seat of Travis County, and home to the University of Texas at Austin. Situated in Central Texas, Austin is the fourthlargest city in Texas and the 16th largest in the United States. The City is the cultural and economic center of the AustinRound Rock Metropolitan Area that has a population of more than 1.5 million and is among the fastest growing cities in the United States. About Austin Energy

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online Austin Energy is the nation’s 10th largest communityowned electric utility, serving 360,000 customers and a population of more than 800,000 in the City of Austin, Travis County and a small portion of Williamson County. As a publicly owned power company and a city department, Austin Energy returns profits to the community annually. The utility has provided $1.3 billion in profits to the community since 1976. Austin Energy’s portfolio includes nuclear, coal, natural gas and renewable energy sources, generating just over 2,600 megawatts (MW) of total power. Austin Energy created the topperforming renewable energy program in the nation and the nation’s first and largest green building program. About Beta LED Beta LED, a brand of Beta Lighting, was established to dedicate resources to the emerging use of LED for general illumination. Beta Lighting provides the lighting market with highquality, specificationgrade luminaries for both interior and exterior lighting applications. Headquartered in Sturtevant, Wis., Beta Lighting operates a 450,000 squarefoot manufacturing facility and is ISO90001:2000 registered. For additional information, visit www.betaled.com. About Cree, Inc. Cree is a marketleading innovator and manufacturer of semiconductors and devices that enhance the value of solidstate lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree’s market advantage is its worldclass materials expertise in silicon carbide (SiC) and gallium nitride (GaN) for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products. Cree’s product families include blue and green LED chips, lighting LEDs, LEDs for backlighting, powerswitching devices and radiofrequency/wireless devices. For additional product specifications please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the possibility that actual energy savings may vary from expectations; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings.

Lighting Industry Survey Confirms LED Lighting Market Growth By the end of 2008, LEDs are expected to be commonly used in offices, parking garages and residential outdoor applications DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a market leader in LED solidstate lighting components, announces the results of an independent survey on the adoption, deployment and benefits of LED lighting. The survey, taken at the recent 2007 Hong Kong International Lighting Fair, validates strong global growth for LED lighting applications, confirms awareness of the energyefficiency benefits of LEDs and indicates that the adoption trend should continue through the end of the decade. Key survey findings include: * Nearly threequarters (72 percent) of respondents have witnessed a growth rate in excess of 20 percent for LED lighting applications in their businesses over the past six months. * Almost twothirds of respondents (63 percent) believe LED lighting will comprise more than 50 percent of their sales or installations by 2009.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online * Future growth in the LED lighting market is expected to come from a mix of applications – with street/parking (20 percent), residential indoor (17 percent), retail/display (17 percent) and office (15 percent) cited as the leading opportunities. Survey respondents represent top decisionmakers at lighting manufacturers who attended the 2007 Hong Kong International Lighting Fair – the largest lighting show in Asia and the second largest in the world. Nearly half the respondents to this survey were from outside of Asia, reflecting the survey’s global reach. “The survey results present us with a clear and positive picture of growth patterns and expectations from leaders in fixture design and manufacturing,” said Greg Merritt, director of corporate marketing, Cree. “The survey shows an increasing demand for the highquality, energyefficient LEDs that Cree currently provides and is continuing to develop.” “The general illumination market is at a tipping point,” Merritt said. “Cree’s industryleading XLampÒ family of highperformance cool and warmwhite LEDs is uniquely positioned to serve the needs of lighting manufacturers who are ready to capitalize on this growth.” About Cree, Inc. Cree is a marketleading innovator and manufacturer of semiconductors and devices that enhance the value of solidstate lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree’s market advantage is its worldclass materials expertise in silicon carbide (SiC) and gallium nitride (GaN) for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products. Cree drives its increased performance technology into multiple applications, including exciting alternatives in brighter and moretunable light for general illumination, backlighting for morevivid displays, optimized power management for highcurrent, switchmode power supplies and variablespeed motors, and moreeffective wireless infrastructure for data and voice communications. Cree customers range from innovative lightingfixture makers to defenserelated federal agencies. Cree’s product families include blue and green LED chips, lighting LEDs, LEDs for backlighting, powerswitching devices and radiofrequency/wireless devices. For additional product specifications please refer to www.cree.com. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as risks inherent in conducting opinion surveys; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; the risk we may encounter delays or other difficulties in developing and commercially releasing new products; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10K for the year ended June 24, 2007, and subsequent filings. About Cree

Cree Reports Financial Results for the Second Quarter of Fiscal Year 2008 DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a marketleading innovator of semiconductors that enhance the value of solidstate lighting, power and communications products, today announced revenue of $119 million for its fiscal second quarter ended December 30, 2007. This represents a 5% increase compared to the fiscal first quarter of 2008 and a 34% increase compared to revenue of $88.8 million reported one year ago. GAAP net income for the second quarter was $6.6 million, or $0.08 per diluted share, compared to net income of $16.5 million or $0.21 per diluted

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online share for the second quarter of fiscal 2007. Please note, the second quarter of fiscal year 2008 consisted of 14 weeks, compared to 13 weeks for the second quarter of fiscal year 2007. The remainder of this press release highlights the company’s financial results on both a GAAP and a nonGAAP basis. The GAAP results include certain costs, charges, gains and losses that are excluded from nonGAAP results. By publishing the nonGAAP measures, management intends to provide investors with additional information to further analyze the company's performance, core results and underlying trends. Cree’s management evaluates results and makes operating decisions using both GAAP and nonGAAP measures included in this press release. NonGAAP results are not prepared in accordance with GAAP, and nonGAAP information should be considered a supplement to, and not a substitute for, financial statements prepared in accordance with GAAP. Investors and potential investors are encouraged to review the reconciliation of nonGAAP financial measures to their most directly comparable GAAP measures attached to this press release. GAAP earnings of $0.08 per diluted share includes certain expenses totaling $5.6 million, net of tax, or $0.06 per diluted share due to certain items. These items consist of amortization of acquired intangibles of $0.04 per diluted share, stockbased compensation expense of $0.3 per diluted share, and a onetime property tax gain of $0.01 per diluted share. On a nonGAAP basis, adjusted to exclude these items, net income for the second quarter of fiscal 2008 was $12.2 million, or $0.14 per diluted share. On a nonGAAP basis, adjusted to exclude similar items as in fiscal 2008, as well as a gain on the sale of investments, net income for the second quarter of fiscal 2007 was $7.2 million, or $0.09 per diluted share. “Q2 was a strong quarter for Cree, as we continued to execute our strategy and delivered revenue and earnings at the high end of our previously announced target range,” stated Chuck Swoboda, Cree chairman and CEO. “The revenue growth was driven by higher LED sales, with XLamp® orders and shipments growing double digits sequentially as we were successful in bringing online additional XLamp capacity in China. Looking ahead, the global momentum for sustainable, energyefficient lighting products continued to build with the passage of the new U.S. Energy bill, which will require the use of moreefficient lighting technology and should further accelerate the adoption of LEDs.” Recent Business Highlights: * Revealed plans to convert all lighting at Cree’s Durham headquarters and manufacturing facility to LED lighting. Energy usage for lighting has decreased by 48% in phase one of the conversion, and the results are available at www.ledworkplace.org. The combination of energy savings, reduced maintenance and disposal costs, and the environmental savings demonstrate that LED lighting is now a real alternative to traditional lighting solutions. * Launched the Cree Solutions Providers network to offer customers a full range of LED lightingsystem solutions and design assistance to help accelerate time to market and reduce product development costs. * Announced that Ann Arbor, MI, will join Raleigh, NC, and Toronto in the growing LED City™ initiative. Ann Arbor plans to become the first U.S. city to convert 100 percent of its downtown streetlights to LED technology, and full implementation is projected to cut the city’s public lighting energy use in half and reduce greenhouse gas emissions by 2,425 tons of CO2 annually. * Commercially released zero micropipe ZMP™ 100mm, ntype silicon carbide (SiC) substrates. With this achievement, Cree reinforces its position as the world’s leading manufacturer of SiCbased semiconductor materials. Q2 2008 Financial Metrics: * Gross margin increased to 35% of revenue from 31% in Q1.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online *Cash flow from operations was $35.1 million. *Cash and investments increased $29.4 million to $361.9 million from Q1. Business Outlook: For its third quarter of fiscal 2008 ending March 30, 2008, which is comprised of 13 weeks, Cree targets revenue in a range of $120 million to $125 million with GAAP earnings of $0.07 to $0.09 per diluted share and nonGAAP earnings of $0.14 to $0.16 per diluted share, based on an estimated 87.3 million diluted weighted average shares. Targeted nonGAAP earnings exclude expenses related to the amortization of acquired intangibles of $3.1 million, net of tax, and stock based compensation expense of $3.0 million, net of tax. Cree will host a conference call at 5:00 p.m. Eastern time today to review the highlights of the fiscal second quarter 2008 results and the fiscal third quarter 2008 business outlook, including significant factors and assumptions underlying the targets noted above. The conference call will be available to the public through a live audio web broadcast via the Internet. Log on to Cree’s website at www.cree.com and go to “Investor Relations — Overview” for webcast details. The call will be archived and available on the website through February 5, 2008. Supplemental financial information, including the nonGAAP reconciliation discussed below, is available in the “Investor Relations” section of Cree’s website, under “Financial Metrics,” “Quarter ending December 30, 2007,” at http://www.cree.com/investor/metrics.htm. About Cree, Inc. Cree is a marketleading innovator and manufacturer of semiconductors and devices that enhance the value of solidstate lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree’s market advantage is its worldclass materials expertise in silicon carbide (SiC) and gallium nitride (GaN) for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products. Cree drives its increased performance technology into multiple applications, including exciting alternatives in brighter and moretunable light for general illumination, backlighting for morevivid displays, optimized power management for highcurrent, switchmode power supplies and variablespeed motors, and moreeffective wireless infrastructure for data and voice communications. Cree customers range from innovative lightingfixture makers to defenserelated federal agencies. Cree’s product families include blue and green LED chips, lighting LEDs, LEDs for backlighting, powerswitching devices and radiofrequency/wireless devices. For additional product specifications please refer to www.cree.com. The schedules attached to this release are an integral part of the release. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results, including with respect to our targets and prospects, could differ materially due to a number of factors, including our ability to complete development and commercialization of products under development, such as our pipeline of brighter LED chips and packaged products; our ability to lower costs; potential changes in demand; increasing price competition in key markets; the risk that, due to the complexity of our manufacturing processes and transition of production to larger wafers, we may experience production delays that preclude us from shipping sufficient quantities to meet customer orders or that result in higher production costs and lower margins; risks associated with the rampup of our production for our new products, as well as production at our COTCO facility and subcontractors; risks resulting from the concentration of our business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for our products; risks associated with our recent acquisition; risks

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online associated with ongoing litigation; and other factors discussed in our filings with the Securities and Exchange Commission, including our report on Form 10K for the fiscal year ended June 24, 2007, and subsequent reports filed with the SEC. Except as required under the U.S. federal securities laws and the rules and regulations of the SEC, Cree disclaims any obligation to update any forwardlooking statements after the date of this release, whether as a result of new information, future events, developments, changes in assumptions or otherwise.

Cree Expands Leadership Team with Two New Executives DURHAM, N.C. Cree, Inc. (Nasdaq: CREE), a leader in LED solidstate lighting components, announces that two new senior leaders are joining the company. Soo Ghee Lee is named vice president and general manager, Asia Pacific, and Wayne Nesbit is named vice president, Worldwide Manufacturing. Soo Ghee Lee, vice president and general manager, Asia Pacific, comes to Cree with more than 25 years of optoelectronics experience, most recently with Avago Technologies where he was vice president and general manager for the solidstate illumination division. He will be responsible for the development of new revenue streams and extension of customer relationships in Asia Pacific. Lee’s appointment is effective January 14, 2008, and he will be based in Penang, Malaysia. "I am very pleased to join Cree and to be part of the team that is leading the SSL industry," said Lee. Wayne Nesbit joins Cree as vice president, Worldwide Manufacturing. Prior, he was senior vice president, Operations, at Mindspeed Technologies and also spent 17 years at Motorola in various global semiconductor management roles. He will oversee global manufacturing operations, including planning/logistics, supply chain, purchasing and quality. Nesbit’s appointment is effective January 21, 2008, and he will be based Durham, NC. "Cree is taking LEDs to new levels, and I'm thrilled to be joining the team," said Nesbit. “We are very pleased that these seasoned industry leaders have chosen to join Cree as we lead the LED revolution,” said Chuck Swoboda, Cree president and CEO. About Cree, Inc. Cree is a marketleading innovator and manufacturer of semiconductors and devices that enhance the value of solidstate lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree’s market advantage is its worldclass materials expertise in silicon carbide (SiC) and gallium nitride (GaN) for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products. Cree drives its increased performance technology into multiple applications, including exciting alternatives in brighter and moretunable light for general illumination, backlighting for morevivid displays, optimized power management for highcurrent, switchmode power supplies and variablespeed motors, and moreeffective wireless infrastructure for data and voice communications. Cree customers range from innovative lightingfixture makers to defenserelated federal agencies. Cree’s product families include blue and green LED chips, lighting LEDs, LEDs for backlighting, powerswitching devices and radiofrequency/wireless devices. For additional product specifications please refer to www.cree.com .

Cree Inc. Announces 2008 Second Quarter Earnings Call DURHAM, N.C. Cree, Inc., (Nasdaq: CREE) announces the following Webcast:

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online What: Cree Inc.'s Conference Call When: January 22, 2008 @ 5:00 p.m. Eastern Where: http://www.videonewswire.com/event.asp?id=44844

Cree Appoints Frank Plastina to Board of Directors DURHAM, N.C. Cree, Inc. (Nasdaq: CREE) announces that Frank Plastina, president, CEO and director of Tekelec, was appointed to the Company’s Board of Directors, and to the Board’s Audit Committee and Governance and Nominations Committee, effective December 31, 2007. “We are pleased to have Frank join our Board of Directors,” said Chuck Swoboda, Cree chairman and chief executive officer. “Frank's experience and insight as CEO of a company accelerating the transition to highperformance, efficient, converged networks will expand the breadth and strength of our Board. This transformational insight should be very helpful to Cree as we pursue our strategy to replace traditional lighting solutions with energyefficient, environmentallyfriendly LED lighting.” Plastina, 45, has served as Tekelec's President and Chief Executive Officer and as a Board member since February 2006. Tekelec is a publicly traded provider of telecommunications network systems and software applications based in Morrisville, North Carolina. Previously, Plastina served as an Executive in Residence at Warburg Pincus LLC, a private equity firm. From 2003 until 2005, he held various executive positions with Proxim Corporation, a provider of wireless infrastructure equipment for wireless fidelity and wireless broadband markets, including Executive Chairman from January 2005 until July 2005, and President and Chief Executive Officer and Director from May 2003 until December 2004. From 1987 until 2002, Plastina held various management and executive positions at Nortel Networks. Plastina holds a degree in commerce from the University of Toronto. About Cree, Inc. Cree is a marketleading innovator and manufacturer of semiconductors and devices that enhance the value of solidstate lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree’s market advantage is its worldclass materials expertise in silicon carbide (SiC) and gallium nitride (GaN) for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products. Cree drives its increased performance technology into multiple applications, including exciting alternatives in brighter and moretunable light for general illumination, backlighting for morevivid displays, optimized power management for highcurrent, switchmode power supplies and variablespeed motors, and moreeffective wireless infrastructure for data and voice communications. Cree customers range from innovative lightingfixture makers to defenserelated federal agencies. Cree’s product families include blue and green LED chips, lighting LEDs, LEDs for backlighting, powerswitching devices and radiofrequency/wireless devices. For additional product specifications please refer to www.cree.com .

Cree Reports Record Quarterly Revenue for the Second Quarter of Fiscal Year 2009 Q2 2009 Revenue Increased 24% yearoveryear to $148 Million Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, today announced revenue of $147.6 million for its second quarter of fiscal 2009, ended December 28, 2008. This represents a 24% increase compared to revenue of $119.0 million reported for the second fiscal quarter last year and a 5% increase compared to the fiscal first quarter of

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online 2009. Revenue included $5.6 million in patent licensing fees which were not factored into previously announced targets. GAAP net income for the second quarter was $10.7 million, or $0.12 per diluted share, compared to net income of $6.6 million, or $0.08 per diluted share, for the second quarter of fiscal 2008. Net income included approximately $4.4 million, or $0.05 per diluted share, related to the patent licensing fees, as well as a franchise tax benefit, which was not factored into previously announced targets. The remainder of this press release highlights the company’s financial results on both a GAAP and a nonGAAP basis. The GAAP results include certain costs, charges, gains and losses that are excluded from nonGAAP results. By publishing the nonGAAP measures, management intends to provide investors with additional information to further analyze the company's performance, core results and underlying trends. Cree’s management evaluates results and makes operating decisions using both GAAP and nonGAAP measures included in this press release. NonGAAP results are not prepared in accordance with GAAP, and nonGAAP information should be considered a supplement to, and not a substitute for, financial statements prepared in accordance with GAAP. Investors and potential investors are encouraged to review the reconciliation of nonGAAP financial measures to their most directly comparable GAAP measures attached to this press release. GAAP EPS of $0.12 per diluted share for the second quarter of fiscal 2009 includes expenses totaling $7.1 million, net of tax, or $0.08 per diluted share related to amortization of acquired intangibles and stockbased compensation expense. On a nonGAAP basis, adjusted to exclude these items, net income for the second quarter of fiscal 2009 was $17.8 million, or $0.20 per diluted share. On a nonGAAP basis, adjusted to exclude comparable items, net income for the second quarter of fiscal 2008 was $12.2 million, or $0.14 per diluted share. “Cree delivered excellent financial results again despite challenging economic conditions, driven by strength in LED product sales for lighting applications,” stated Chuck Swoboda, Cree chairman and CEO. “In the third quarter of fiscal 2009, we expect that lower demand for our products in consumer, mobile and automotive applications will be partially offset by growth in LED sales for commercial lighting applications. As we look ahead to calendar 2009, we are targeting that LED lighting adoption will continue to gain momentum as product availability increases and recognition of the benefits grows from new installations like the Federal Reserve and the planned Pentagon renovation.” Recent Business Highlights: * Announced volume availability of the LR24, a recessed LED luminaire that offers highquality, energyefficient light for the largest commercial lighting market, suspendedceiling applications traditionally addressed by linear fluorescents. The LR24 has already been installed at the U.S. Federal Reserve in Washington, D.C., as part of their ongoing energyefficiency program, and the Pentagon plans to install 4,200 of the luminaires as part of a major renovation currently underway. * Announced the highvolume availability of XLamp XPE LEDs with output up to 122 lumens, the highest commercially available minimum flux for a singledie LED, at 350 mA, in the industry today. The volume availability of these XLamp LEDs is aimed at further stimulating the LED lighting market, driving applications in outdoor and indoor general illumination as well as portable and retail display lighting. * Achieved industrybest reported R&D results of 161 lumens per watt for a white power LED. These results demonstrate Cree’s continued commitment to deliver industryleading performance through a constant focus on innovation and R&D. * Entered into a patent license agreement granting Mitsubishi Chemical Corporation (MCC) an exclusive license (subject to certain exceptions) to manufacture and sell freestanding GaN substrates, with Cree to receive over the life of the agreement a combination of guaranteed payments and royalties on the sale of GaN substrates.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online * Agreed with Bridgelux, Inc. to settle the parties’ patent infringement litigation and to dismiss all claims and counterclaims in the suits. As part of the settlement, Cree granted Bridgelux a license to the Cree and Boston University patents at issue in the litigation, and Bridgelux agreed to pay a license fee and royalties. In addition, Bridgelux and Cree have entered into a supply agreement under which Cree will become a significant supplier to Bridgelux. * Welcomed Indian Wells, California, to the LED City® Program. The city has replaced much of the lighting in City Hall, with all circular recessed lighting converted to the Cree LR6 LED light, reducing electricity consumption by 80%. The city plans to evaluate LED lighting for other municipal lighting applications to further increase energy savings. * Welcomed Notre Dame, Madison Area Technical College, and the University of California, Davis to the LED University™ Program. Notre Dame is implementing four pilot installations to evaluate the feasibility of LED lighting across the campus and is already realizing energy savings of 81% compared to incandescent lighting in the Hesburgh Library. Q2 2009 Financial Metrics: * GAAP gross margin was 38% of revenue compared to 35% in Q2 of fiscal 2008, and nonGAAP gross margin was 39% compared to 36% in Q2 of fiscal 2008. Q2 gross margin included approximately 200 basis points of benefit related to the MCC and Bridgelux license agreements. * Accounts receivable increased $5.1 million from Q1 of fiscal 2009 to $108.6 million, resulting in days sales outstanding of 66, the same as Q1 of fiscal 2009. * Inventory decreased $0.4 million from Q1 of fiscal 2009 to $78.8 million and represents 78 days of inventory, the same as Q1 of fiscal 2009. * Cash and investments increased $26.5 million to $365.5 million, with cash flow from operations of $40.7 million and free cash flow (cash flow from operations less capital expenditures) of $23.2 million. Business Outlook: Current uncertainty in global economic conditions makes it particularly difficult to predict demand and makes it more likely that Cree’s actual results could differ materially from expectations. For its third quarter of fiscal 2009 ending March 29, 2009, Cree targets revenue in a range of $128 million to $135 million with GAAP earnings of $0.02 to $0.05 per diluted share and nonGAAP earnings of $0.10 to $0.13 per diluted share, based on an estimated 89 million diluted weighted average shares. Targeted nonGAAP earnings exclude expenses related to the amortization of acquired intangibles of $0.03 per diluted share and stockbased compensation expense of $0.05 per diluted share. Cree will host a conference call at 5:00 p.m. Eastern time today to review the highlights of the fiscal second quarter 2009 results and the fiscal third quarter 2009 business outlook, including significant factors and assumptions underlying the targets noted above. The conference call will be available to the public through a live audio web broadcast via the Internet. Log on to Cree’s website at www.cree.com and go to “Investor Relations — Overview” for webcast details. The call will be archived and available on the website through February 3, 2009. Supplemental financial information, including the nonGAAP reconciliation attached to this press release, is available in the “Investor Relations” section of Cree’s website, under “Financial Metrics”, “Quarter ending December 28, 2008,” at www.cree.com. About Cree, Inc.

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INDUSTRIAL REPORT FOR LED LIGHTING PROFESSIONALS For the latest news and insights on the web at www.superindustrialonline.com or www.edanaro.com Compare leasing and finance vendors online Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energyefficient, environmentally friendly LED lighting. Cree is a marketleading innovator of lightingclass LEDs, LED lighting solutions, and semiconductor solutions for wireless and power applications. Cree’s product families include recessed LED down lights, lightingclass power LEDs, highbrightness LEDs, blue and green LED chips, powerswitching devices and radiofrequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variablespeed motors, and wireless communications. For additional product and company information, please refer to www.cree.com. The schedules attached to this release are an integral part of the release. This press release contains forwardlooking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results, including with respect to our targets and prospects, could differ materially due to a number of factors, including current uncertainty in global economic conditions that could negatively affect product demand, collectability of receivables and other related matters as consumers and businesses may defer purchases or payments, or default on payments, in response to tighter credit and negative financial news; our ability to complete development and commercialization of products under development, such as our pipeline of brighter LED chips, LED components and LED lighting retrofit solutions; our ability to lower costs; increasing price competition in key markets; the risk that, due to the complexity of our manufacturing processes and transition of production to larger wafers, we may experience production delays that preclude us from shipping sufficient quantities to meet customer orders or that result in higher production costs and lower margins; risks associated with the rampup of our production for our new products, as well as production at our Huizhou facility and subcontractors; risks resulting from the concentration of our business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for our products; risks associated with our recent acquisitions; risks associated with ongoing litigation; and other factors discussed in our filings with the Securities and Exchange Commission (SEC), including our report on Form 10K for the fiscal year ended June 29, 2008, and subsequent reports filed with the SEC. Except as required under the U.S. federal securities laws and the rules and regulations of the SEC, Cree disclaims any obligation to update any forwardlooking statements after the date of this release, whether as a result of new information, future events, developments, changes in assumptions or otherwise.

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