February 29, 2012

Cree Lights Remodeled Everett, Wash. Public School

Cree LR24™ Luminaires Installed at Monroe Elementary School
DURHAM, N.C. -- Monroe Elementary School in Everett, Wash. recently installed nearly 450 LED fixtures by Cree, Inc. (Nasdaq: CREE), making it the first predominately LED-lit school in the Everett Public Schools district. Cree LR24™ LED troffers now illuminate the newly rebuilt two-story, 68,000-square-foot elementary school, which serves about 600 students in grades K-5.

“We looked at a lot of LED fixture manufacturers but only Cree had fixtures that met all of our requirements for high-quality lighting and cost savings,” said Harold Beumel, director of facilities and planning, Everett Public Schools. “Since the lights are designed for 50,000 hours of life, the Monroe Elementary School should see ongoing operational savings due to decreased energy consumption and decreased maintenance compared to linear fluorescents. Cree® LR24 luminaires provide consistent, even lighting, furthering our goal of enhancing the district’s educational program and providing a better learning environment.”

Everett Public Schools’ leadership first explored broad adoption of LED lighting after realizing all of the benefits that came from the installation of LED lights during the conversion of shop classrooms into general classrooms at Heatherwood Middle School. With those results and additional testing of LED fixtures from a variety of manufacturers, district leadership determined that Cree LR24 luminaires could bring a reduction in maintenance costs and interruptions to the students’ learning environment, since there would be no on-going need to change ballasts or lamps.

According to Beumel, Everett Public Schools continues to embrace energy-efficient LED lighting, with an all-LED school planned for completion in fall 2012. View Ridge Elementary School plans to install Cree CR24™ troffers, which provide higher-quality light, longer life and greater energy savings than comparable fluorescent options, delivering beautifully lit classrooms for years to come.

“Proper illumination is essential for academic settings,” said Al Safarikas, marketing director, Cree lighting. “Using Cree’s LED lighting solutions is a win-win for educational institutions. Not only do the students get to work under much higher quality light than the previous fluorescent fixtures, but schools can also save significantly on maintenance and energy costs, allowing administrators to invest in other academic priorities.”

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, electronic signs and signals, power supplies and solar inverters.

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 that actual savings will vary from expectations, 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 26, 2011, and subsequent filings.

Cree® is a registered trademark, and LR24™ and CR24™ are trademarks of Cree, Inc.