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Updated: July 8th, 2008 05:26 PM CDT

Cree Delivers the First 160-Lumen White Power LED

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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 anumber of factors, such as the risk we may encounter delays or otherdifficulties in ramping up production of our new products; the risk we may be unable to manufacture products with sufficiently low cost to offer them atcompetitive prices or with acceptable margins, the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for the products;variations in demand for Cree's products and its customers' products; andother factors discussed in Cree's filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended June 25,2006 , and subsequent filings.

About the Department of Energy

The Department of Energy's Office of Energy Efficiency and Renewable Energy invests in a diverse portfolio of energy technologies to provideAmerican consumers with a greater choice of energy-efficient products andenhance quality of life. The Building Technologies Program works with a widearray of industry, state, and university partners to accelerate thedevelopment and use of advanced building technologies such as solid-statelighting (SSL). SSL has the potential to more than double the efficiency ofgeneral lighting systems, saving energy costs for consumers and reducing overall U.S. energy consumption.

The unique attributes of SSL drive the need for a coordinated Federalapproach that encompasses research, development, and commercialization support. In partnership with industry, the Department has developed acomprehensive R&D plan to ensure that DOE funds appropriate research topicsthat will improve efficiency and move SSL from the laboratory to themarketplace. To ensure that DOE R&D investments result in technology commercialization, the Department also implements commercialization-support strategies including lighting design competitions and the development of ENERGY STAR(R) criteria for SSL products. The Department works closely withthe Next Generation Lighting Industry Alliance, utilizing the expertise ofthis organization of manufacturers to enhance the manufacturing and commercialization focus of the SSL portfolio.

For more information on the DOE solid-state lighting portfolio, visitwww.netl.doe.gov/ssl.

Cree and XLamp are registered trademarks and EZBright is a trademark ofCree, Inc. Energy Star is a registered trademark of the EnvironmentalProtection Agency, a federal agency of the U.S. Government.


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