Cree, Inc. (Nasdaq: CREE) is extending the revolutionary XSP Series LED Street Light portfolio to deliver municipalities improved performance at even more affordable price points. The new XSP2L ™ LED street light increases lumen output over 35 percent compared to the original XSP luminaire. The XSP2L LED is the ideal replacement for outdated high pressure sodium and metal halide fixtures up to 400 watts. Delivering better performance and lower cost per lumen, the Cree ® XSP Series LED Street Light boasts an industry-leading ten year warranty and a calculated L 70 lifetime of more than 100,000 hours and features a state-of-the-art thermal management system to improve overall performance. The result is a high performance luminaire that delivers up to 30 percent more lumens per dollar. “Cree is committed to helping communities significantly lower their energy costs and maintenance expenses,” said Greg Merritt, vice president, lighting at Cree. “The latest Cree innovation makes LED street lighting available for higher performance applications with compelling payback.” Cree XSP Series LED Street Lights are sold through Cree lighting sales channels. Visit www.cree.com/xsp for more information. 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.