Award-Winning Cree LR6 LED Downlight Now Available to Homes and Businesses Globally

LR6 Delivers Energy-Efficient and Environmentally Safe Lighting

DURHAM, N.C. -- Cree, Inc. (Nasdaq: CREE), a leader in LED solid-state lighting, is introducing its flagship LED lighting solution globally, leveraging the success and rapid adoption of its LED downlight in the United States. A new version of the LR6, designed for 220V to 240V electrical systems, is being released to address Europe, Asia, and other major markets.

Cree LED Lighting Solutions (Cree LLS) is introducing the 165mm LR6-230V at the Light+Building show running from April 6th through 11th in Frankfurt, Germany. The LR6-230V is based on Cree’s lighting-class XLamp® LEDs and patented color-mixing technology. This combination allows the LR6-230V to excel in three critical elements – color quality (CRI Ra 94), efficiency and longevity – delivering unprecedented LED lighting performance.

“The high quality of light and the energy efficiency of LEDs enable our fixtures to deliver unprecedented value,” said Neal Hunter, president of Cree LLS. “As part of Cree, we now have an ideal technology platform to advance LED lighting and are expanding the application of our LED products globally.”

The LR6 earned recognition as the grand prize winner in a 2007 competition sponsored by the American Lighting Association with performance verified by tests in independent labs under the direction of the U.S. Department of Energy. The assessment praised the LR6 with “high marks for light output and color quality with luminaire efficacy exceeding even the most efficient fluorescent downlights currently available.”

The LR6-230V uses 12 watts of electricity and produces light comparable to a 75-watt incandescent. It uses approximately 85 percent less energy and lasts up to 50 times longer; more than 20 years in homes and 10 years in businesses under normal use conditions. Compared to compact fluorescent (CFL), Cree’s LED lights use 50 percent less energy and last up to five times longer.

With Cree LED lighting solutions, home and business owners worldwide have an energy-efficient lighting alternative superior to conventional lighting and CFLs and free from the environmental risks from mercury in CFLs.

Visitors to the Cree LLS exhibit during the Light+Building show (Hall: 4.2 Walkway: K Stand: 11) will see a side-by-side comparison with conventional incandescent and compact fluorescent products. The company is also previewing its expanding product portfolio with its new 115mm downlight and 600mm x 600mm recessed architectural lights.

Cree LLS is currently taking orders for LR6-230V and will be shipping production quantities this quarter. Cree LLS is in the process of selecting distribution partners for the European and Middle Eastern markets.

About Cree
Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energy-efficient, environmentally friendly LED lighting. Cree is a market-leading innovator of lighting-class LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications.

Cree’s product families include 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, backlighting, electronic signs and signals, variable-speed motors, and wireless communications.

For additional product and company information, please refer to www.CreeLLS.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 possibility that actual energy savings may 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, 2007, and subsequent filings.