New LED Module Product Line Brings Cree TrueWhite™ Technology to Lighting Manufacturers

Cree, Inc. (Nasdaq: CREE) introduces a new class of products designed to accelerate the adoption of LED lighting by traditional lighting fixture manufacturers and speed time-to-market for their new LED-based fixtures. With this new line of LED module products, Cree customers will now have access to Cree’s award-winning TrueWhite™ technology allowing them to deliver efficient, high-quality light in a compact, easy-to-use product.

The first product in the new line is the Cree LED Module LMR4, created to overcome common design issues manufacturers have faced when trying to incorporate LED solutions into their lighting fixtures.

"Cree customers now have access to our industry-proven TrueWhite technology, allowing them to quickly deliver better products to the market, faster,” said Chuck Swoboda, Cree chairman and chief executive officer. "Cree TrueWhite^™ technology is already installed in thousands of locations including restaurants, retail stores, and others that demand both high-quality light and energy-efficiency.”

The Cree LED Module LMR4 uniquely integrates driver electronics, optics and primary thermal management, making the compact Cree module drop-in-ready. Designed to last 35,000 hours while consuming just 12 watts of power, it delivers 700 lumens at a warm-white color temperature of 2700 with a CRI >90. Fixture manufacturers have the option to include a specially designed heat sink to accommodate specific high-heat applications, like downlights for insulated ceilings.

The LMR4 (120V) is UL recognized and the LMR4 (230V) complies with multiple international standards. Fixture makers seeking ENERGY STAR^® qualification will have access to specification and performance data, including LM-80 reports, which can speed regulatory approvals.

"We’ve never seen or worked with any LED product as simple as the Cree LED Module,” said Miroslav Masar, OMS, LED Department director. "We anticipate our new downlight will be available in summer 2010—and that’s less than six months from when we started working with prototypes of the module. In a fast-paced industry like lighting, this is a keen advantage for us.”

The Cree LED Module LMR4 can be ordered now for summer 2010 general availability, and sample evaluation kits are available now directly from Cree’s website, www.cree.com/modules. Demonstrations of the LMR4 can be seen at Cree’s Light + Building stand (Hall 4.2, G71), April 11-16, 2010 in Frankfurt, Germany.

The LMR4 has also been designed into demonstration fixtures that can be seen at Disano, Hall 3.1 E21; OMS, Hall 4.2 F10/G10; and LTS, Hall 3.1 A51.

About Cree

Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energy-efficient, environmentally friendly LED lighting. Cree is a market-leading innovator of lighting-class LEDs, LED lighting, and semiconductor solutions for wireless and power 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 radio-frequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variable-speed motors, and wireless communications.

For additional product and company information, please refer to www.cree.com. 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 we may encounter delays or other difficulties in ramping up production of our new products; the risk we may be unable to manufacture the products with sufficiently low cost to offer them at competitive prices or with acceptable margins; 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 28, 2009, and subsequent filings.

Cree is a registered trademark, and TrueWhite and Cree TrueWhite are trademarks of Cree, Inc.

ENERGY STAR is a registered trademark of the U.S. Environmental Protection Agency.