March 4, 2011

Cree and Zumtobel Extend Strategic Agreement for LED Downlights to Accelerate LED Lighting Revolution

DURHAM, N.C. -- Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces a two-year extension of the strategic agreement signed with Zumtobel Lighting GmbH in 2008. The companies continue to work together to bring industry-leading LED lighting to Europe.

“Cree and Zumtobel see the LED lighting revolution taking hold in Europe and we are excited to sign this agreement and to continue to work together,” said Ty Mitchell, vice president and general manager, Cree LED Lighting. “Zumtobel is a market-leading lighting company and is providing their customers with high-quality LED lighting based on Cree TrueWhite® Technology.”

“In the past years, Cree has become one of our preferred suppliers in the LED lighting business. As we combine the best available technology with our outstanding lighting expertise and our strong IP position, we enhance our leading position to bring LED lighting innovation into our markets,” said Harald Sommerer, CEO of the Zumtobel Group. “We look forward to extending our successful cooperation with Cree in the coming years.”

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 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 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.