April 4, 2011

Cree and Osram Sign Comprehensive Patent Cross License Agreement

DURHAM, N.C. -- Cree, Inc. (Nasdaq: CREE) and Osram GmbH announce the signing of a comprehensive, worldwide patent cross-license agreement. The agreement underscores each company’s commitment to speeding the adoption of LED lighting while respecting the value and importance of each company’s intellectual property. The cross-license agreement covers patents from both parties in the fields of blue LED chip technology, white LEDs and phosphors, packaging, LED luminaires and lamps, and LED lighting control systems.

“Cree is committed to revolutionizing lighting. Over the last two decades, we have developed innovative, energy efficient LED lighting technology and have protected this technology under international intellectual property laws,” said Chuck Swoboda, Cree chairman and CEO. “This agreement can enable our customers to accelerate the LED lighting revolution.”

Cree recently announced a similar broad cross-license agreement with Philips and has existing patent agreements with Nichia and Toyoda Gosei regarding LED technology.

About Cree
Cree is leading the LED lighting revolution and making energy-wasting traditional lighting technologies obsolete 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 wireless and power applications.

Cree has more than 1,800 patents issued worldwide and more than 2,600 pending patent applications that address LED chip, component and lighting technology, as well as SiC materials, and RF and Power electronics.

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, backlighting, electronic signs and signals, variable-speed motors, and wireless communications.

For additional product and company information, please refer to www.cree.com. To learn more about the LED Lighting Revolution, please visitwww.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 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 10-K for the year ended June 27, 2010, and subsequent filings.