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Press release from Business Wire

New Cree® KR Series LED Downlights Continue to Obsolete Fluorescent Lighting

<p class='bwalignc'> <i>Driving the Adoption of LED Lighting with Higher Lumen Outputs, New Aperture and Expanded Options</i> </p>

Thursday, February 21, 2013

New Cree® KR Series LED Downlights Continue to Obsolete Fluorescent Lighting09:00 EST Thursday, February 21, 2013 DURHAM, N.C. (Business Wire) -- Cree, Inc. (Nasdaq: CREE) extends the KR Series LED downlight portfolio delivering greatly improved performance at pricing to match incumbent fluorescent downlights. With new lumen packages of up to 2650 delivered lumens, the KR Series replaces 18 to 42 watt fluorescents. Cree is further expanding the range of LED downlight applications by introducing the KR4™ downlight which features an impressive, high lumen 4-inch aperture, with options similar to the 6-inch KR6™ downlight. With new standard 0 to 10V dimming, sloped ceiling and wall wash trim options the KR Series downlights provide attractive aesthetic appeal for numerous commercial and retail applications. “The KR Series LED downlights are ideal for new construction applications,” said Greg Merritt, vice president, lighting. “And with the increased range of LED options now available at price parity to fluorescent lighting incumbents, I see no reason to ever specify a CFL downlight.” Built with Cree TrueWhite® Technology, the KR Series downlight family is available in a wide range of color temperatures (2700K, 3000K, 3500K and a new 4000K), all with industry-leading 90+ CRI, enabling beautiful, efficient lighting. To help facilitate utility rebates, the KR Series is currently in the qualification process for earning the ENERGY STAR®. The KR Series is sold through Cree lighting sales channels. Please visit www.cree.com/KRSeries to learn more about the KR Series LED downlights. 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; 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; 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®, Cree TrueWhite®, and TrueWhite® are registered trademarks, and KR4™ and KR6™ are trademarks of Cree, Inc. ENERGY STAR® is a registered trademark of the U.S. Government. Cree, Inc.Gena Fiegel, 919-407-7651Corporate Communicationsmedia@cree.com