AICHI, JAPAN, May ___, 2008 — Toyoda Gosei Co., Ltd (“Toyoda Gosei”) today announced that Toyoda Gosei and Cree, Inc. (Nasdaq: CREE) have entered into an agreement providing the companies (including wholly owned affiliates) with access to each others’ patented LED chip and packaged LED technology (including White LED technology).

Cree and Toyoda Gosei both hold broad and substantial optoelectronic patent portfolios. The agreement will make it easier for both companies to develop and manufacture LED products without concern for the other’s patents. Cree and Toyoda Gosei are responsible companies that respect the intellectual property rights of others and strive to enhance the development of LED technology. The agreement highlights the importance of intellectual property in the LED marketplace and helps to alleviate the IP concerns of LED customers.

Other terms of the patent agreement were not disclosed but are not expected to have any material financial effect on either party.

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 retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications.

Cree’s product families include recessed LED down lights, lighting-class power LEDs, high brightness LEDs, blue and green LED chips, 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.