New Cree XLamp® MT-G2 LEDs Showcase the Advantage of the SC³ Technology Platform

Cree Pushes Performance Limits to Deliver 25 Percent Brighter LEDs

DURHAM, N.C. --

MT-G2LED lighting leader Cree, Inc. (Nasdaq: CREE), announces the MT-G2 LED – the first EasyWhite® LED array built on the SC³ Technology Platform. The new XLamp® MT-G2 LED delivers LED lighting manufacturers 25 percent brighter LEDs compared to the previous MT-G, enabling a wider spectrum of high lumen applications. MT-G2 LEDs are designed for high-output, directional lighting applications and are the ideal replacement for lighting applications that currently use inefficient halogen lamps. The MT-G2 LEDs are optimized for use in track, accent, lamp retrofit, down lighting and other applications where color quality, consistency and optical control are required.

“The MT-G2 LED truly pushes the envelope of what’s possible, redefining lumen levels and efficacy while delivering color consistency and superior optical control,” said Richard Turner, R & D director at Havells Sylvania. “Combined with the small footprint and uniform emitting surface, the MT-G2 is an especially attractive device to further grow our leading position in professional-quality LED retrofit lamps.”

Featuring Cree® EasyWhite Technology, the MT-G2 LED delivers up to 2100 lumens in warm white (3000K) at 25 watts, 85°C and provides the industry’s best color consistency, with superior optical control. The new, brighter MT-G2 LED shares the same footprint as the original MT-G LED, providing customers a seamless upgrade path to shorten the LED luminaire and retrofit lamp design cycle and improve customer time-to-market. The MT-G2 LED is designed to be used as a single component in an LED design to better emulate the filament appearance of incumbent lighting products and simplify design and manufacturing.

“Innovation in performance and optimization of LEDs to a variety of applications are critical to driving LED adoption,” said Mike Watson, Cree senior marketing director, LED components. “The new MT-G2 LEDs enable true halogen performance across a wide range of single source lighting applications and provide the industry’s best color consistency. Cree’s continued breakthrough in high lumen output demonstrates the advantages delivered by leveraging the SC³ Technology Platform.”

The MT-G2 LED is the latest product built on Cree’s revolutionary SC³ Technology Platform, joining XB-D, XT-E, XT-E High-Voltage and XM-L High-Voltage LEDs. The SC³ Technology Platform leverages Cree’s advanced silicon carbide technology, features advancements in LED chip architecture and phosphor, and showcases a new package design to deliver the most advanced LED components in the industry.

With an 8.9mm x 8.9mm footprint, the MT-G2 LED is available in 2- and 4-step EasyWhite® color temperatures ranging from 2700K to 5000K. The new LEDs are available in minimum 80 and 90 CRI options and feature multiple voltage selections, including higher voltages that enable the use of smaller, more efficient drivers to lower system cost.

Visit Cree at Light+Building 2012 at Hall 4.2, Stand G71 and at Lightfair International, Booth #130, to see the new XLamp MT-G2. Samples are available now and production quantities are available with standard lead times. For additional information visit: http://www.cree.com/accelerate

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 visitwww.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; the risk 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 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®, XLamp® and EasyWhite® are registered trademarks of Cree, Inc.