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Press release from Business Wire

Cree Sets Performance Standard with Introduction of Next Generation LED Canopy Series

<p class='bwalignc'> <i>Latest Innovation Delivers Unique Combination of Increased Performance at a Lower Initial Cost</i> </p>

Tuesday, May 07, 2013

Cree Sets Performance Standard with Introduction of Next Generation LED Canopy Series

09:00 EDT Tuesday, May 07, 2013

DURHAM, N.C. (Business Wire) -- Cree, Inc. (Nasdaq: CREE) announces a breakthrough innovation in canopy LED lighting with the introduction of the CPY250 canopy and soffit lighting series. Consuming 75 percent less energy than the MH (Metal Halide) systems it's designed to replace and 5-15 percent less energy with more than 35 percent increased performance compared to competing higher-cost LED luminaires, the new CPY Series delivers exceptional visual environments across a range of canopy applications including gas stations, bank drive-through ATMs and hotel/airport drop-off centers.

“Canopy operators are under constant pressure to lower operating costs while simultaneously providing safe and visually appealing lighting,” said Greg Merritt, vice president, lighting at Cree. “The new CPY Series, with its slim, low-profile design, is the perfect upgrade solution. The high-performance LED luminaires not only outperform existing LED and MH solutions but also enable the lowest total cost of ownership objectives to be achieved.”

A canopy installation with Cree® CPY250 luminaires can deliver a payback period of less than two years as compared to the antiquated MH recessed and surface-mount solutions.* The new series delivers increased value not only through an affordable initial cost, but also throughout the life of the installation – offering extremely low energy consumption and low operating expense.

Available in both flat and prismatic drop lens, the CPY250 provides two illumination aesthetics to meet the visual, as well as the vertical and horizontal illumination performance needs of a typical canopy application. The CPY250 can seamlessly mount to virtually any canopy deck and is secured in place with self-sealing screws that provide a reliable water-tight seal. The integrated driver within the canopy housing further simplifies installation, reducing installation time and cost. The new canopy series also features Cree's industry leading 10-year limited warranty.

The Cree CPY250 Series is sold through Cree lighting sales channels. Please visit www.cree.com/lighting/cpyseries to learn more.

* Based on typical commercial usage of 12 hours per day and the national average $0.12 per kWh electric costs and virtually zero maintenance.

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 of Cree, Inc.

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

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