Cree to Open New Subsidiary Headquarters in Hong Kong Science and Technology Park

Sep 08, 2005, 01:00 ET from Cree, Inc.

    DURHAM, N.C. and HONG KONG, Sept. 8 /PRNewswire-FirstCall/ -- Hong Kong
 Science and Technology Parks Corporation and Cree, Inc. (Nasdaq:   CREE) today
 announced that Cree Asia-Pacific Limited will open its new headquarters at the
 Hong Kong Science Technology Park on September 12, 2005. Cree Asia-Pacific
 Limited is a wholly owned subsidiary of Cree that was formed to provide
 greater customer and technical support, and serve as Cree's center of product
 innovation in Asia. The company will host a dedication ceremony to introduce
 its Asian customers and prospective customers to the new staff and facility.
     "Cree has focused significant sales efforts during the past several years
 toward the large and dramatically growing LED community in Asia. Cree Asia-
 Pacific is now investing in a new headquarters facility and expert personnel
 to deepen Cree's commitment to its Asian customers," notes Mike Dunn, managing
 director of Cree Asia-Pacific and a Cree vice president. "We are inviting
 current and prospective customers to visit our new offices to meet our
 technical and customer support managers."
     "The decision to locate the Cree Asia-Pacific headquarters in Hong Kong
 Science and Technology Park shows both the importance of having regional
 support for technical products, in this case packaged LED lighting components,
 and the importance of convenient, attractive facilities," noted C.D. Tam, Hong
 Kong Science and Technology Parks Corporation chief executive officer. "Cree
 Asia-Pacific expects to expand its offices to include additional business
 units in the near future and we look forward to assisting with this process."
     Alex Chen, executive manager, and Michael Leung, technical manager, will
 oversee the Cree Asia-Pacific headquarters. Mike Dunn and Cree CEO Chuck
 Swoboda will be among the U.S.-based Cree executives participating in the
 special office dedication celebration September 12 at the new headquarters
 located at Suite 309-310, 3/F., Building 9, Hong Kong Science Park, No. 5
 Science Park West Avenue, Shatin, New Territories, Hong Kong.
     Additional information about Cree Asia-Pacific Limited and the dedication
 and demonstration events can be obtained by calling Cree in the U.S. at
 +919-313-5300 or Cree Asia-Pacific Limited in Hong Kong at +852 3602 9000.
     About Cree, Inc.
     Cree, Inc. is an advanced semiconductor company that leverages its
 expertise in silicon carbide (SiC) and gallium nitride (GaN) materials
 technology to produce new and enabling semiconductors.  The products include
 blue and green light emitting diodes (LEDs), packaged LEDs, power switching
 devices and radio frequency (RF) and microwave devices.  The company is
 currently developing near ultraviolet lasers.  Targeted applications for the
 company's products include solid-state illumination, power switching, wireless
 infrastructure and optical storage.  Cree understands the important
 convergence of science, technology and creativity, placing high value on
 ideas, as well as the energy and ability of its people.  For more information
 on Cree, please visit
     About Hong Kong Science and Technology Parks Corporation
     Hong Kong Science and Technology Parks Corporation is a statutory body set
 up by the Government of the Hong Kong Special Administration Region.
     Its mission is to provide quality infrastructure and support facilities
 for innovation and technology development in electronics, biotech, precision
 engineering and IT/telecom industries and the upgrading of manufacturing and
 services industry capabilities; full-service incubation programs for
 technology start-ups; and foster partnership and collaboration between
 industry and universities/applied research institutes through consulting,
 training and research programs.
     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, including the possibility that the office
 will not expand as planned or at all; 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 26, 2005 and subsequent reports filed with
 the Commission.
     Cree and the Cree logo are registered trademarks of Cree, Inc.

SOURCE Cree, Inc.