Cree and WPI sign distribution agreement for Asia

Date Announced: 31 Jan 2007 Cree, Inc. (NASDAQ: CREE) , a leader in LED solid-state lighting components, announced today a distribution agreement with World Peace Industrial Co., Ltd. (WPI) to sell and support Cree XLamp(R) products in China, Asia Pacific and Japan. WPI is a member of WPG Holdings, a leading electronics distributor in Asia.The new agreement with WPI broadens Cree's reach across Asia and Japan. It also provides WPI's customers with ready access to Cree's expanding family of commercially available high-power packaged LED technology. Cree previously had a distribution agreement with World Peace Group Technology Ltd. based in Hong Kong.Among the Cree XLamp products available through WPI will be the recently released 210-lumen XR-E LED, the first commercially released power LED that is as efficient as fluorescent sources. WPI will provide full system-solutions support for optical, thermal, and control electronics design.Cree and WPI intend to work together to accelerate the adoption of solid- state lighting in Asia by providing superior high-power packaged LED products and services to manufacturers of lighting and backlighting products."WPI is aligning itself with the power LED performance leader and offering Cree's award-winning XLamp products to our entire customer base," said Mike Chang, WPI CEO. "Our customers represent some of the most advanced and innovative lighting and backlighting manufacturers in the world. We look forward to working with Cree to offer them the highest performance power LED products and support to enable delivery of the world's most innovative LED- based products.""Expanding our distribution reach in Asia and Japan with WPI strengthens Cree's presence and ability to address the potential for high-power packaged LEDs in China, Japan and the Asia Pacific region," stated Bob Pollock, Cree senior vice president, sales. "With this agreement, Cree adds a third major distribution partner, advancing our plans to build a top-tier distribution network worldwide."Additional information about accessing Cree products through WPI may be obtained by calling +886-2-2788-5200 or visiting http://www.wpi-group.com/.About WPI Group and WPG HoldingsWPI Group is a member of WPG Holdings, Asia's No.1 electronics distributor. Headquartered in Taipei, Taiwan, WPI has more than 20 sales offices in greater China and the Asia Pacific region, including Hong Kong, China, Singapore, Malaysia, Thailand, Philippines and India, forming a complete Asia Pacific service network. For more information on WPI, visit http://www.wpi-group.com/.WPG Holdings was founded in 2005 through the merger of three leading Asian semiconductor distributors, WPI Group, SAC Group and RichPower Group. WPG Holdings serves as a franchise partner for more than 100 worldwide brands. With more than 30 sales offices in greater China and the Asia Pacific region, WPG Holdings achieved sales of US$3.6 billion in 2006 and has been elevated to rank within the top three IC component distributors worldwide.About Cree, Inc.Cree is a market-leading innovator and manufacturer of semiconductors and devices that enhance the value of solid-state lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree's market advantage is its world-class materials expertise in silicon carbide (SiC) and gallium nitride (GaN) for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products.Cree's product families include blue and green LED chips, lighting LEDs, LED backlighting solutions, power-switching devices and radio- frequency/wireless devices. For additional product specifications please refer to http://www.cree.com/.

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