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

Cree Module Makes LED Lighting Design Faster and Easier
DURHAM, N.C.--(Business Wire)--
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.

Cree, Inc.
Michelle Murray, 919-313-5505
Corporate Communications
michelle_murray@cree.com

Copyright Business Wire 2010