Cree Expands CR Series LED Downlights Delivering Greater Application Coverage and a Lower Initial Price

  Cree Expands CR Series LED Downlights Delivering Greater Application
  Coverage and a Lower Initial Price

   Breakthrough Innovation Provides Rapid Payback of Less than a Year While
                      Outperforming Traditional Lighting

Business Wire

DURHAM, N.C. -- May 14, 2013

Building upon the success of the CR Series downlights, Cree, Inc. (Nasdaq:
CREE) introduces Cree^® Full Definition CR4^™ and CR6^™ downlights – the ideal
luminaire to replace outdated incandescent four- and six-inch recessed
downlights. Featuring a warm-white 2700K color temperature, dimming and better
than 80 CRI, the Full Definition downlights are ideal for applications that
require good light quality and low initial cost.

“Cree is committed to delivering customers the LED lighting solution needed to
fit their budgets and applications,” said Greg Merritt, vice president,
lighting at Cree. “The new Full Definition CR downlights cost less than
fluorescent alternatives and also use 20-30 percent less energy compared to
the outdated CFLs they replace. With the low initial investment and good light
quality, customers should never need to install an outdated fluorescent or
incandescent downlight again.”

The breakthrough innovation combines Cree’s latest advancements in LEDs and
driver design with full-system thermal and electrical integration to virtually
eliminate initial cost barriers to LED adoption. The new CR Full Definition
luminaires can deliver payback against incandescent downlights in less than
one year in many installations and are offered at a price-point that is up to
25 percent less than Cree’s comparable 90 CRI products.*

For customers who require a higher CRI, Cree is also expanding the existing CR
Series LED downlights to include new color temperature and light quality
options. The CR Series now offers 3000K, 3500K and 4000K color temperatures,
in addition to the existing 2700K offer – all featuring a CRI of 90 or more.

The Cree CR4 Full Definition downlight delivers up to 575 lumens and the CR6
Full Definition downlight delivers up to 625 lumens. Both models feature 2700k
color temperature and are dimmable to five percent with most standard
incandescent dimmers. The Full Definition downlights are qualified for both
residential and commercial ENERGY STAR^® standards. This higher standard of
performance opens up opportunities for more incentives and rebates available
from utilities and other entities – further lowering price and barriers to
mass LED adoption.

The Full Definition CR4 and CR6 downlights are sold through Cree lighting
sales channels and are available now. Please visit
www.cree.com/lighting/CRSeriesDownlights to learn more.

* Based on typical commercial usage of 9 hours per day and $0.11 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, and CR4^™ and CR6^™ are trademarks of Cree,
Inc.,

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

Contact:

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