Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, has been selected to provide energy-efficient LED lighting to Walmart for new stores and renovations. Walmart plans to install Cree LRP-38 LED light bulbs in 650 stores during the first year, replacing ceramic metal halide in the produce and electronics departments. Cree’s industry-leading LR6 recessed LED downlights are also being used in new construction applications.

The Cree LRP-38, a PAR38 style LED lamp, was selected for its energy-efficiency, long lifetime, controlled beam and high color-rendition. Designed to last 50,000 hours, the LRP-38 consumes 82 percent less energy than the 70-Watt ceramic metal halide bulbs it replaces and can last more than five years in a 24/7 operating environment. The unique design of the LRP-38 also reduces glare for customers, focusing attention on the merchandise and not the lighting.

“Cree TrueWhite™ Technology delivers high quality light—making food and merchandise attractive, which we believe enhances the customer’s experience,” said Neal Hunter, Cree LED Lighting president. “We’re able to do all this while reducing energy consumption and eliminating toxic mercury. The selection of Cree’s lamp followed a thorough analysis of performance, in-store evaluations and return on investment.”

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 backlighting, 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, electronic signs and signals, variable-speed motors, and wireless communications.

For additional product and company information, please refer to www.CreeLEDLighting.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 Walmart’s plans may change resulting in lower product sales; the possibility that actual energy savings may vary from expectations; 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 Technology is a trademark of Cree, Inc.