May 10, 2010

New Cree LED Luminaire Breaks 100 LPW Barrier for Indoor Lighting

LR24HE Sets New Standards for LED Fixture Performance
DURHAM, N.C. -- Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces a new LED-based troffer that delivers more than 100 lumens per Watt fixture efficacy, the first indoor fixture known to deliver this level of performance.

Shown at the Cree booth, #149 at Lightfair 2010 in Las Vegas, the LR24HE is 30 percent more efficient than the best 2-foot-by-2-foot fluorescent troffers and 15 percent more efficient than the best 2-foot-by-4-foot fluorescent troffers. The LR24HE uses Cree TrueWhite™ Technology to deliver 3200 lumens at 3500 K with a 90 CRI. It is designed to last at least 50,000 hours.

“By using the LR24HE, which is the most efficient product for general illumination, lighting designers and architects now have the freedom to reintroduce accent and decorative lighting and still meet energy codes or achieve LEED points,” said Gary Trott, Cree vice president market development, LED Lighting. “Cree continues to leverage TrueWhite Technology to deliver breakthrough new performance levels.”

The LR24HE is planned for commercial availability in late summer. It will offer Cree’s new five year warranty.

Cree also announces that it will be reducing the price of its award-winning LR24 LED troffer by 15 percent to reduce upfront cost and accelerate the LED lighting revolution.

About Cree
Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energy-efficient, environmentally friendly LED lighting. Cree is a market-leading innovator of lighting-class 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, high-brightness LEDs, lighting-class power LEDs, power-switching devices and radio-frequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, electronic signs and signals, variable-speed motors, and wireless communications.

For additional product and company information, please refer to www.CreeLEDLighting.com. To learn more about the LED Lighting Revolution, please visit www.creeledrevolution.com.

This press release contains forward-looking 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 10-K for the year ended June 28, 2009, and subsequent filings.

Cree is a registered trademark and TrueWhite and LR24 are trademarks of Cree, Inc.