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To: Mao II who wrote (3987)	9/1/1999 10:18:00 AM
From: Kenya AA	Read Replies (1) \| Respond to of 12662

M2 and Thread: CREE at 34 looks good to me. VOLUME is exploding! AV is 430K - we're already at 547K. K Wednesday September 1, 7:59 am Eastern Time Company Press Release SOURCE: Cree Research, Inc. Cree Receives Product Orders Totaling $66.6 Million; Total Backlog Increases to $111 Million DURHAM, N.C., Sept. 1 /PRNewswire/ -- Cree Research, Inc. (Nasdaq: CREE - news), the world leader in the development and manufacture of semiconductor materials and electronic devices made from silicon carbide (SiC), announced today that it has received contracts from several customers totaling $66.6 million for shipment through September 2000. These orders include the one-year renewal of its purchase agreement with Osram Opto Semiconductors GmbH & Co., OHG for standard and high brightness silicon carbide light emitting diodes (LEDs) and wafer products. As a result of these customer order commitments, Cree's total backlog now stands at $111 million for product shipments and contract research. F. Neal Hunter, chairman and CEO stated, ''Cree has established its position as the world's low cost leader of blue and green LEDs. These customer contracts attest to our lead status and confirms the robust properties of silicon carbide for use in high brightness, high volume applications.'' Hunter added, ''The greatest demand from our customers is for our high brightness chips. As we continue this complex and challenging product ramp, our primary focus remains on the execution and timely delivery of these new products to our customers during fiscal 2000.'' North Carolina based Cree Research, Inc. is the world leader in developing and manufacturing semiconductor materials and electronic devices made from silicon carbide. The company uses proprietary technology to make enabling compound semiconductors such as blue and green LEDs, microwave transistors for use in wireless base stations and radar, SiC crystals used in the production of unique gemstones and SiC wafers that are sold for research. Cree has new product initiatives based on its expertise in SiC, including blue laser diodes for optical storage applications and high power devices for power conditioning and switching. For more information on Cree visit cree.com . This press release contains forward-looking statements involving risks and uncertainties that may cause actual results to differ materially from those indicated. Actual results could differ due to a number of factors, including the possibility the company may be unable to manufacture the volume of products required to fulfill contracted demand in a timely manner due to technological or manufacturing difficulties; the possibility customers may fail to honor their legally binding contractual purchase commitments; and other factors discussed in the company's filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended June 27, 1999. SOURCE: Cree Research, Inc.