Cree Research Announces Stock Split

DURHAM, N.C., July 21 -- Cree Research, Inc. has approved a two-for-one stock split. The effective date of the split will be July 26, 1999, which date will also serve as the record date. Cree Research uses proprietary technology to make enabling compound semiconductors such as blue and green LEDs, microwave transistors for wireless base stations and radar, SiC crystals used in the production of unique gemstones, and SiC wafers for use in research. Upon completion of the split, the company will have 60 million shares of authorized common stock with approximately 29.3 million shares outstanding.