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Press release from Business Wire

Cree Propels University of North Carolina Energy-Saving Initiatives

<p class='bwalignc'> <i>Seventeen UNC System Institutions or Affiliates to Implement Innovative Cree LED Lighting</i> </p> <p class='bwalignc'> </p>

Monday, July 08, 2013

Cree Propels University of North Carolina Energy-Saving Initiatives

09:00 EDT Monday, July 08, 2013

DURHAM, N.C. (Business Wire) -- As part of its ongoing efforts to reduce energy usage by at least $25 million over seven years, the University of North Carolina (UNC) General Administration has selected high-performing LED lighting by Cree, Inc. (Nasdaq: CREE) to help system institutions operate more efficiently and cost-effectively.* An alliance of 13 UNC campuses and several affiliated organizations, spanning 27 million square feet, will leverage Cree® LED luminaires, including the revolutionary CR24 architectural LED troffers, to deliver fast payback, energy efficiency and superior light quality.

“This University-wide lighting project will help advance our energy reduction goals, lower maintenance expenses and improve ROI,” said Miriam Tripp, special projects officer at UNC General Administration. “Reducing energy consumption is the right thing to do for our environment, our students and the taxpayers who support us. Ultimately, the related cost savings enable UNC institutions to focus on our core mission of great teaching and research.”

Designed to last up to 100,000 hours, Cree CR24 troffers feature dimming-capabilities for easy lighting control integration. CR24 LED troffers are powered by Cree TrueWhite® Technology, delivering beautiful white light with superior color accuracy and consistency.

“The UNC lighting installation will be a great showcase for how entire university systems can leverage LED lighting to reduce operating expenses and create well-illuminated spaces from classrooms to dormitories and beyond,” said Mike Bauer, vice president of lighting sales, Cree. “We're pleased to work with UNC to help deliver the energy savings necessary to meet their sustainability goals.”

Campuses and other UNC institutions involved include:

Appalachian State University
East Carolina University
Fayetteville State University
North Carolina A&T State University
North Carolina Central University
North Carolina School of Science and Mathematics
UNC Asheville
UNC Charlotte
UNC Greensboro
UNC Pembroke
UNC School of the Arts
Western Carolina University
Winston-Salem State University
UNC General Administration
UNC Center for Public Television
NC Arboretum
NC Department of Commerce Energy Office

UNC, together with Johnson Controls, conducted an extensive energy audit and identified lighting and lighting controls as avenues to help meet their energy goals. Johnson will oversee the program and will leverage Cree LEDs across the system-wide contract.

*Energy consumption per gross square foot for all State buildings in total is to be reduced by 30 percent by 2015 based on energy consumption for the 2002-2003 fiscal year.

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.

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 plans may change resulting in lower product sales; the risk 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®, Cree TrueWhite®, and TrueWhite® are registered trademarks, and CR24 is a trademark of Cree, Inc.

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

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