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Cree Selected for New Patent Index

Cree is one of 300 companies chosen for the new Ocean Tomo 300 Patent Index, the first equity index based on the value of corporate intellectual property. The American Stock Exchange, which prices and publishes the Index (Amex: OTPAT), recognizes it as “the first major, broad-based market equity index to be launched in 35 years, and follows the progression from the Dow Jones Industrial Average in 1896, to the Standard & Poor's 500 in 1957 and then to the NASDAQ Composite Index in 1971.”

According to an American Stock Exchange press release, the Index represents “a diversified portfolio of 300 companies that own the most valuable patents relative to their book value.” The index was developed by Ocean Tomo, an intellectual property merchant bank providing diversified intellectual property-related services. According to James E. Malackowski, president and CEO of Ocean Tomo, “[i]t will be a valuable resource for fund analysts, financial advisors and investors, as the Ocean Tomo 300 Patent Index would have outperformed the S&P 500 by an average of 300 basis points per annum between September 1996 and September 2006.”