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Press release from Business Wire

Cree LED Lighting Significantly Improves Sheetz Convenience Restaurants

<p class='bwalignc'> <i>Cree Interior and Exterior Fixtures Deliver Extensive Reductions in Energy Costs Along with High-Quality Lighting</i> </p>

Wednesday, November 28, 2012

Cree LED Lighting Significantly Improves Sheetz Convenience Restaurants09:00 EST Wednesday, November 28, 2012 DURHAM, N.C. (Business Wire) -- More than 130 locations of convenience restaurant chain Sheetz, Inc. now feature state-of-the-art LED lighting by Cree, Inc. (Nasdaq: CREE). The installation of energy-efficient Cree interior and exterior lighting at Sheetz® retail gasoline locations is delivering a 45 percent reduction in energy costs for interior lighting and 50-55 percent reduction in exterior lighting compared to the antiquated lighting it replaced. “LED technology has improved dramatically over the last several years and we saw that Cree was on the leading edge of LED lighting innovation,” said Doug Knisely, director of building and petroleum construction, Sheetz, Inc. “We collectively determined that the conventional, antiquated lighting that we were using at Sheetz needed to be upgraded. High-quality lighting is an imperative to our business and is extremely vital to our customers that choose Sheetz to refuel their cars and refresh their bodies.” According to Sheetz, ranked 58th on Forbes Magazine's 2011 List of Top Private Companies, Cree® LED lighting will provide a significant return on investment. From Cree's near maintenance-free operation to the more than 50,000 hours of longevity, Sheetz expects a reduction in maintenance costs and to considerably lower the amount of kilowatt-hours of electricity used annually. Knisely continued, “We are a customer service-focused brand and Cree's high-quality LED lighting makes our stores appear brighter, more visually appealing and helps us deliver a safer feeling atmosphere for our customers. We continue to reinvent ourselves and bring innovation to our industry and as we open new locations in our six-state footprint, we look forward to utilizing Cree LED lighting to help us maintain our commitment of quality to our customers.” “As an adopter of LED lighting in its new and remodeled locations, Sheetz is revolutionizing the customer experience in the retail gasoline and convenience store marketplace,” said Christopher Ruud, Cree vice president, global sales, lighting. “Cree LED products, with high efficiency and low maintenance, are the ideal solution for the round-the-clock operations of convenience stores and gas stations.” Cree Edge™ area and flood luminaires and 227 Series™ canopy luminaires replaced the exterior metal halide lighting fixtures, providing enhanced color quality, uniformity and optimized illumination performance. Additionally, 46 of the 131 upgraded Sheetz stores are illuminated with CR14™ linear luminaires and CR6™ downlights, updating the original fluorescent and compact fluorescent lights. 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.Cree.com/Lighting. 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 24, 2012, and subsequent filings. Cree® is a registered trademark, and Cree Edge™, CR6™, CR14™, and 227 Series™ are trademarks of Cree, Inc. or one of its subsidiaries. Sheetz® is a registered trademark of Sheetz of Delaware, Inc. Cree, Inc.Gena Fiegel, 919-407-7651Corporate Communicationsmedia@cree.com