Cree, Inc. (Nasdaq: CREE) announces an industry-changing technology breakthrough for the LED street lighting market. The XSPR ™ LED Residential Street Light delivers better lighting while consuming over 65 percent less energy at an initial cost as low as $99 for common applications. The new Cree ® XSPR street light is the ideal replacement for municipalities and cities using outdated high-pressure sodium fixtures up to 100 watts and can deliver payback in less than one year.* “With the low initial price of the XSPR street light and the dramatic energy savings, wholesale replacement of existing street lights becomes a simple choice,” said Al Ruud, Cree vice-chairman, lighting. “Utilities and city managers can now improve the lighting in their neighborhoods, save energy and see payback in less than a year. Why would anyone choose otherwise?” Extending the technical breakthroughs of the XSP Series LED Street Light portfolio, the 25-watt and 42-watt XSPR street light is designed to replace up to 100-watt high-pressure sodium street lights, reducing energy consumption while improving lighting performance. Cree’s NanoOptic ® Precision Delivery Grid ™ optic technology achieves better optical control than traditional street lighting fixtures and efficiently delivers white uniform light for safer-feeling communities. In addition to a low initial cost and significant energy savings, the XSPR street light is backed by Cree’s 10-year industry-leading warranty. “Street lighting is our city’s largest single energy-related cost, and the XSPR street light appears to dramatically change the economics of LED relative to traditional lighting technologies,” said Dan Howe, assistant city manager, City of Raleigh, N.C. “This breakthrough technology can change the total cost of ownership equation, encouraging municipalities to transition sooner to LED with less risk, and redirect resources to other important community needs.” The XSPR LED Residential Street Light is sold through Cree lighting sales channels. Please visit www.cree.com/lighting/XSPR to learn more. *Payback calculated against high-pressure sodium and based on municipal usage of 12 hours per-day and the national average of $0.11 per kWh electric costs.