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To: Voltaire who wrote (27678)	8/3/2000 9:31:36 AM
From: Dealer	Respond to of 35685

CREE--Thursday August 3, 8:13 am Eastern Time Press Release SOURCE: Cree, Inc. Cree Announces Product Orders Totaling $70 Million Osram Renews Purchase Commitment DURHAM, N.C., Aug. 3 /PRNewswire/ -- Cree, Inc., (Nasdaq: CREE - news), today announced that it has received contracts from several Asian and European customers totaling $70 million for shipments through September 2001. Included in these contracts is a one-year purchase agreement with Osram Opto Semiconductors GmbH & Co., OHG (Osram) for standard brightness, high brightness, and small chip silicon carbide light emitting diodes (LEDs) and wafer products. The Osram agreement is the largest product contract signed in the history of the company. F. Neal Hunter, Chairman and CEO stated, ``With a record backlog, we are well positioned to meet our goals with robust demand for our LEDs in high volume applications. The company continues to focus on providing enabling component technology to markets that require cost-effective solutions.'' North Carolina-based Cree, Inc. is the world leader in developing and manufacturing semiconductor materials and electronic devices made from silicon carbide (SiC). The company uses proprietary technology to make enabling compound semiconductors such as blue and green LEDs, SiC crystals used in the production of unique gemstones and SiC wafers that are sold for device production and research. Cree has new product initiatives based on its expertise in SiC, including radio frequency and microwave transistors for use in wireless infrastructure applications and radar, 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 we 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 contractual purchase commitments; and other factors discussed in the company's filings with the Securities and Exchange Commission, including our report on Form 10-K for the year ended June 27, 1999, subsequent quarterly reports and our registration statement on Form S-3 filed January 3, 2000, as subsequently amended. SOURCE: Cree, Inc.