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To: r.edwards who wrote (5262)	4/3/2001 9:37:04 PM
From: r.edwards	Respond to of 10714

Cree Lighting Company, a wholly owned subsidiary of Cree, Inc.,announced that it has demonstrated a near-ultraviolet InGaN LED with 32% quantum efficiency. This is the highest known external quantum efficiency publicly reported for an LED in the UV- to-blue portion of the spectrum. High quantum efficiency translates directly into power efficiency. This development should advance Cree™s work on white light LEDs, and allow the company to capture market share from traditional incandescent lighting manufacturers. RF and Microwave Transistors,,,,,, Probably one of the most exciting opportunities for Cree, and one of the reasons we have decided to initiate coverage, are the applications for SiC devices in the RF and microwave transistor markets. SiC has several properties that make it an exceptional alternative to Silicon and Gallium Arsenide (GaAs) for high-powered, high-frequency applications. SiC-based devices can operate between 30 megahertz (MHz) and 4 GHz at power levels exceeding 50 watts. Exhibit 3 u Microwave Applications Source: Cree, Inc. 2 GHz 4 GHz 300 Watts 200 Watts 50 Watts 100 Watts 0 Watts 3 GHz 8 GHz Military Radar System (S band) Military Radar System (x band)