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Press release from Business Wire

Cree Extends LED Street Lighting Leadership Delivering up to a 15 Percent Performance Increase

<p class='bwalignc'> <i>Next Generation LEDway Series LED Street Light Delivers Increased Performance and Lowers Total Cost of Ownership</i> </p>

Thursday, March 28, 2013

Cree Extends LED Street Lighting Leadership Delivering up to a 15 Percent Performance Increase

09:15 EDT Thursday, March 28, 2013

DURHAM, N.C. (Business Wire) -- Cree, Inc. (Nasdaq: CREE) announces the next performance upgrade to the LEDway® Series LED Street Light. These energy-efficient luminaires, provided in several versions and tailored to specific applications, are the ideal replacement for outdated high pressure sodium (HPS) and metal halide (MH) fixtures. Providing significant improvements over the prior LEDway Series, select versions of the new LEDway Series LED Street Lights provide up to 20 percent additional energy savings and increased lumen output, while other versions provide up to 15 percent higher lumen output and additional energy savings. These improvements can help municipalities reduce operating cost where budgets are tight – lowering the total cost of ownership while providing the same illumination performance.

“Cree is committed to helping municipalities and facility owners lower their lighting energy costs and maintenance expenses,” said Greg Merritt, vice president, lighting at Cree. “The increased performance of the new LEDway Series can improve payback up to 25 percent compared to the previous generation and strengthens the argument to replace antiquated lighting technologies. These cost savings can greatly benefit municipalities and free up money for other expenses.”

Engineered to optimize illumination and economic performance, Cree® LEDway Street Lights boast an industry-leading ten year warranty and offer more than 20 optical distribution patterns, flexible drive currents and multiple lumen packages. The versatility of the LEDway luminaire lets municipalities fully optimize the LED fixture to meet application and project goals.

Cree LEDway Series Street Lights are sold through Cree lighting sales channels. Visit http://www.cree.com/lighting/ledwayseries for more information.

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® is a registered trademark and LEDway® is a trademark of Cree, Inc.

Cree, Inc.
Gena Fiegel, 919-407-7651
Corporate Communications
media@cree.com

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