February 21, 2008

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 market-leader in LED solid-state 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 2007-2008. 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 energy-efficient 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 employee-friendly working environment and assisting non-profit organizations through mentorship and donations.

The Caring Company is a project within the Hong Kong Council of Social Service, which coordinates non-governmental 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 world-class Hong Kong Convention and Exhibition Center.

About Cree
Cree is a market-leading innovator and manufacturer of semiconductors and devices that enhance the value of solid-state lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree’s market advantage is its world-class 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 high-current, switch-mode power supplies and variable-speed motors, and more-effective wireless infrastructure for data and voice communications. Cree customers range from innovative lighting-fixture makers to defense-related federal agencies.

Cree’s product families include blue and green LED chips, lighting LEDs, LED backlighting solutions, power-switching devices and radio-frequency/wireless devices. For additional product specifications please refer to www.cree.com.