February 7, 2012

New Cree LED Platform Transforms What’s Possible with LED Performance and Pricing

XLamp® XT-E White Designed to Accelerate LED Adoption and Lower System Cost
DURHAM, N.C. -- Cree, Inc. (Nasdaq: CREE) today announced a breakthrough in LED technology that completely redefines the lighting industry and erases old assumptions about up-front LED cost and performance. The Cree XLamp® XT-E White LED delivers twice the lumens-per-dollar of other LEDs and features the highest performance and efficacy in the industry. Based on a new silicon carbide technology platform, the XT-E LED and the recently released XB-D LED represent a dramatic transformation in LED price-performance. Cree’s revolutionary new platform addresses the largest obstacle to mass LED lighting adoption, initial cost, and enables LED lighting systems to replace their inefficient ancestors.

“Cree has a history of delivering excellent LED solutions and the XLamp XT-E LED has exceeded our expectations,” said Fritz Morgan, chief product officer, Digital Lumens, Inc. “We are committed to building the most energy-efficient industrial lighting systems and the XT-E LED enables us to do just that with high lumens per watt. The result is an intelligent LED-based lighting system that is driving widespread adoption of LEDs in industrial facilities, with compelling performance and end-user payback.”

The XT-E LED more than doubles the lumens per watt of the XLamp XP-E LED family – providing up to 148 LPW at 85°C (or up to 162 LPW at 25°C) at 350mA. The XT-E LED delivers exceptional performance in the popular 3.45mm x 3.45mm XP footprint and can be used for almost all lighting applications. By leveraging the XP footprint, customers can easily incorporate the XT-E LED in existing XP LED designs to shorten the LED fixture design cycle and improve customer time-to-market.

Additionally, since the XT-E White LED is a successor product to XP-E High Efficiency LED, the application for ENERGY STAR® qualification requires only 3000 hours of XT–E LED LM-80 data, instead of the normal 6000 hours.

“Our mission is to drive the LED lighting revolution through our relentless pursuit of innovation and by helping manufacturers bring high-quality, affordable LED lighting to market,” said Mike Watson, Cree senior director marketing, LED components. “With the XB-D LED, Cree changed the game and introduced a better price-performance curve. Now, with the XT-E LED, Cree continues to break barriers and extend its leadership on this new trajectory, delivering products that accelerate LED adoption.”

The XT-E White LED delivers up to 148 lumens and 148 lumens per watt in cool white (6000 K) or up to 114 lumens and 114 lumens per watt in warm white (3000 K), both at 350 mA, 85°C.

For more information on how Cree is accelerating LED lighting adoption, and to request a free sample, visit www.cree.com/accelerate. Samples are available immediately and production volumes are available with standard lead times. To locate a distributor, please visit www.cree.com/buyxlamp.

About Cree
Cree is leading the LED lighting revolution and making energy-wasting traditional lighting technologies obsolete through the use of energy-efficient, mercury-free LED lighting. Cree is a market-leading innovator of lighting-class LEDs, LED lighting, and semiconductor products for power and radio frequency (RF) 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 RF devices. Cree products are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, power suppliers and solar inverters.

For additional product and company information, please refer to www.cree.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 that we may be unable to manufacture these new products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the risk we may encounter delays or other difficulties in ramping up production of our new products; customer acceptance of the new products; the risk 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 10-K for the year ended June 26, 2011, and subsequent filings.

Cree and XLamp are trademarks registered in the U.S. Patent and Trademark Office by Cree, Inc. ENERGY STAR is a registered trademark of the U.S. Environmental Protection Agency. About Cree