Cree Releases New Line of Advanced Z-Rec(tm) Silicon-Carbide Power Diodes

DURHAM, N.C., July 7, 2009 (GLOBE NEWSWIRE) -- Cree, Inc. (Nasdaq:CREE), the
market leader in Silicon Carbide (SiC) power products, announces availability of
its world-class 600V SiC Junction Barrier Schottky (JBS) diodes.

The new Z-Rec(tm) diodes provide improved device power efficiency and enhanced
surge current capability, allowing system optimization for performance and cost
in power conversion applications ranging from 250W to 1500W. Primarily used for
boost diode applications in power factor correction (PFC) circuits, Z-Rec SiC
JBS diodes, through their inherent lack of reverse-recovery currents, will
reduce AC-DC power supply losses by up to 10 percent versus silicon
fast-recovery diodes.

Zero reverse-recovery current has been an advantage for Cree's SiC-diode
customers, enabling switch-mode power supplies to reach and exceed ENERGY
STAR(r), 80-plus certification levels. The new Z-Rec devices add to already
impressive SiC-diode power savings through device junction capacitance values,
which are up to 10 percent lower than Cree's first-generation devices. The lower
junction capacitance reduces switching losses and extends the power savings to
systems operating at higher switching frequencies. Each new device, of a given
current rating, maintains the low Vf (<1.8V) of previous Cree SiC diodes at
rated current and temperature, resulting in no compromise in conduction losses.

The ability to sustain repetitive and non-repetitive surge currents has long
been a limitation when designing-in SiC JBS diodes. Early-generation SiC diodes
often required the designer to choose a device with a higher-than-required
current rating to assure robust and reliable operation under potential surge
conditions. Cree's advancements in SiC power-device structures and design allow
the new Z-Rec diodes to provide optimal efficiency with use of the
minimum-required current-rated device. Z-Rec diode's performance and application
cost advantages support "green" energy efficiency in an expanding number of
power-supply designs for server, PC, communications, industrial and consumer
switch-mode power supplies.

"SiC power diodes are rapidly becoming a standard component, replacing their
silicon predecessors for applications in which efficiency, switching speed and
reliability are prerequisites. Cree's leadership in SiC materials technology and
SiC power-device design provide power-system designers the best zero-recovery
diode on the market today," said Dr. Cengiz Balkas, Cree vice president and
general manager, power and RF.

Z-Rec 600V devices are available in 2, 3, 4, 6, 8, 10 and 20 amp ratings in
TO-220-2, TO-220-2 fully molded (Full-Pack), TO-247-3, TO-252-2 (D-Pak), and
TO-263-2 (D2Pak) packages.

All Z-Rec devices are RoHS, REACH, and Halogen-Free-compliant. Samples and
production quantities are now available with standard lead times (with 3A
devices available after July 2009). Product specifications, reliability and
quality data, environmental compliance documentation, technical literature, and
a PFC reference design are available on the Cree Power web page:
www.cree.com/power.

For more information or to order samples visit: www.cree.com/power, email
powersales@cree.com, or find a local distributor at
http://www.cree.com/products/power_distr.asp.

About Cree

Cree is a market-leading innovator of semiconductor solutions for wireless and
power applications, lighting-class LEDs, and LED lighting solutions.

Cree's product families include power-switching devices,
radio-frequency/wireless devices, blue and green LED chips, high-brightness
LEDs, lighting-class power LEDs, and LED fixtures and bulbs. Cree solutions are
driving improvements in applications such as PFC circuits, variable-speed
motors, wireless communications, general illumination, backlighting and
electronic signs and signals.

For additional product and company information, please refer to www.cree.com.

The Cree, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3529

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 possibility that
actual energy savings may vary from expectations; the potential lack of customer
acceptance of the 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 29, 2008,
and subsequent filings.

Z-Rec is a trademark and Cree is a registered trademark of Cree, Inc.

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

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CONTACT: Cree, Inc.
Media Contact:
Corporate Communications
Michelle Murray
(919) 313-5505
michelle_murray@cree.com