August 29, 2012

Cree Announces THE EDGE® High Output LED Series Delivering Game-Changing Performance and Savings

Latest Innovation Integrates Precise Optical Control, Exceptional Color Quality and Fast Payback
DURHAM, NC -- Cree, Inc. (Nasdaq: CREE) introduces THE EDGE® High Output (H.O.) Area and Flood Light LED luminaires. Capable of replacing high output sources of the past such as 1000 watt metal halide and using 50 percent less energy in most applications, the new luminaire features more than 20 optical configurations. Among them is a new FrontlineOptic technology designed specifically for auto dealerships. THE EDGE H.O. luminaire delivers brilliant and focused light to applications seeking a high output solution.

“Buying a car is a visual experience and quality lighting has an immediate positive impact on the retail shopping experience,” said Mike Lallier, president and owner, Reed Lallier Chevrolet. “Cree designed THE EDGE High Output luminaire to meet the specific needs of auto dealerships. The revolutionary solution provides superior color quality that allows us to effectively extend our selling window after dark. The advanced optical control of THE EDGE H.O. luminaire delivers light precisely where it’s needed to always showcase our inventory in the best possible light.”

Featuring patented NanoOptic® technology, THE EDGE H.O. luminaire precisely distributes light where you want it – meaning customers only pay for the light required.  In addition, exceptional thermal management enhances reliability and contributes to a system that can provide more than a decade of near maintenance-free service – eliminating expensive relamping cycles.

THE EDGE H.O. luminaire can significantly reduce energy and maintenance costs while improving illumination performance as well. The new luminaire offers better color stability and reliability, as well as a higher CRI and a much broader spectrum color source compared to high-wattage metal halide alternatives. THE EDGE H.O. luminaire provides unprecedented color quality, enhanced curb appeal and increased visibility for any retail or commercial site.

“THE EDGE H.O. offered significant energy and maintenance savings compared to 1000 watt metal halide without compromise,” said Allen Trench, operations manager, Irvine Home Center, Irvine Company Retail Properties. “Improved illumination performance, better color quality and greater reliability allow us to provide a much more consistent and enhanced shopping experience for our customers.”

“In addition to dramatically enhancing the curb appeal for the dealership's auto inventory, we elected to install Cree LED luminaires for the significant savings on energy costs and maintenance,” said Mike Ward, president and owner, Mike Ward Infiniti. “Gone are the high costs and disruptions associated with relamping our old metal halide fixtures. The Cree solution is highly reliable which means we shouldn’t need to touch them again for more than a decade. And the improved color quality compared to metal halide really makes a difference. Now our cars always look great, day or night.”

Cree® THE EDGE H.O. Area and Flood LED Series is sold through Cree lighting sales channels. For more information on Cree’s latest innovation, visit www.cree.com/hoarea and www.cree.com/hoflood. To learn how Cree is accelerating LED lighting adoption, visit www.creeledrevolution.com.

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 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; 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 24, 2012, and subsequent filings.

Cree®, NanoOptic® and THE EDGE® are registered trademarks and FrontlineOptic is a trademark of Cree, Inc. or one of its subsidiaries.