<SUBMISSION>
<ACCESSION-NUMBER>0000895419-08-000076
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20081229
<ITEMS>5.02
<ITEMS>9.01
<FILING-DATE>20081231
<DATE-OF-FILING-DATE-CHANGE>20081231
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>CREE INC
<CIK>0000895419
<ASSIGNED-SIC>3674
<IRS-NUMBER>561572719
<STATE-OF-INCORPORATION>NC
<FISCAL-YEAR-END>0628
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-21154
<FILM-NUMBER>081277410
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>4600 SILICON DR
<CITY>DURHAM
<STATE>NC
<ZIP>27703
<PHONE>9193135300
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>4600 SILICON DR
<CITY>DURHAM
<STATE>NC
<ZIP>27703-8475
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>CREE RESEARCH INC /NC/
<DATE-CHANGED>19940224
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k123108.htm
<DESCRIPTION>FORM 8-K DEC 31 2008
<TEXT>
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COMMISSION</font></font></div>
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20549</font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">CURRENT REPORT </font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934</font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><a name="fis_unidentified_table"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Date of Report (Date of Earliest
Event Reported): December 29, 2008</font></font></a></div>
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specified in its charter)</font></font></div>
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appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:</font></div>
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]</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)</font></div>
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material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)</font></div>
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]</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[
]</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</font><a name="fis_financial_statements_and_exhibits" /></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Item
5.02</font></font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Departure of Directors
      or&#160;Certain Officers; Election of Directors; Appointment of Certain
      Officers; Compensatory Arrangements of Certain
    Officers</font></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;On December
29, 2008, the Board of Directors of Cree, Inc. (the &#8220;Company&#8221;) elected Robert A.
Ingram as a member of the Company&#8217;s Board of Directors and appointed Mr. Ingram
as a member of the Board&#8217;s Compensation Committee and Governance and Nominations
Committee.</font></div>
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will compensate Mr. Ingram for his services as a director in accordance with the
Schedule of Compensation for Non-Employee Directors attached as
Exhibit&#160;10.5 to the Company&#8217;s report on Form 10-Q filed with the Securities
and Exchange Commission on October 19, 2007.&#160;&#160;Pursuant to these
arrangements, the Company on December 29, 2008, granted Mr. Ingram an option to
purchase 3,750 shares of the Company&#8217;s common stock at a price of $14.71 per
share and issued Mr. Ingram 3,750 shares as a restricted stock
award.&#160;&#160;The Company granted the option and restricted stock awards
under its 2004 Long-Term Incentive Compensation Plan; each award vests over a
period ending not later than September 2009, subject to continued
service.&#160;&#160;In addition, commencing with the Company&#8217;s third fiscal
quarter, the Company will pay Mr. Ingram a cash retainer in advance at the
quarterly rate of $8,750 for service as a member of the Board of Directors,
$2,500 for service as a member of the Compensation Committee, and $1,250 for
service as a member of the Governance and Nominations Committee.</font></div>
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release issued by the Company on December 31, 2008 announcing the appointment of
Mr. Ingram is included as Exhibit 99.1 to this report and incorporated herein by
reference.</font></div>
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9.01</font></font></div>
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      Exhibits</font></font></div>
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2008</font></div>
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duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</font></div>
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Officer</font></div>
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30, 2008</font></div>
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2008</font></div>
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<DOCUMENT>
<TYPE>EX-99.1
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<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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99.1</font></font></div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: normal">FOR IMMEDIATE
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2">Press
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Cree Elects Robert Ingram
to&#160;Board of Directors</font></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: normal; FONT-FAMILY: times new roman">DURHAM,
NC, DECEMBER 31, 2008</font> &#8211; <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cree,
Inc. (Nasdaq: CREE) announces that Robert Ingram, Vice Chairman Pharmaceuticals
of GlaxoSmithKline, was elected to the Company&#8217;s Board of Directors, and to the
Board&#8217;s Compensation Committee and Governance and Nominations Committee,
effective December 29, 2008.</font>
</font></font>
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welcome Bob to our Board of Directors,&#8221; said Chuck Swoboda, Cree chairman and
chief executive officer. &#8220;His wealth of experience in research-intensive
businesses facing global marketing and manufacturing challenges give him an
ideal foundation to help us address the opportunities Cree anticipates. The
insights he brings should prove beneficial to Cree as we work toward our goal of
replacing traditional lighting solutions with energy-efficient,
environmentally-friendly LED lighting.&#8221;</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Ingram,
65, has served since January 2003 as Vice Chairman Pharmaceuticals of
GlaxoSmithKline, a pharmaceutical research and development company in Research
Triangle Park, North Carolina.&#160;&#160;He previously served as Chief
Operating Officer and President of Pharmaceutical Operations of GlaxoSmithKline
following the December 2000 merger of Glaxo Wellcome plc and SmithKline Beecham
plc.&#160;&#160;Prior to the merger he served as Chief Executive Officer of
Glaxo Wellcome plc and as Chairman, President and Chief Executive Officer of
Glaxo Wellcome Inc.&#160;&#160;He also serves on the boards of directors of
Lowe&#8217;s Companies, Inc., Allergan, Inc., and Edwards Lifesciences Corporation,
and also as Chairman of the board of directors of OSI Pharmaceuticals, Inc. and
as Lead Director of Valeant Pharmaceuticals International.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">About
Cree, Inc.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cree is a
market-leading innovator and manufacturer of semiconductors and devices that
enhance the value of solid-state lighting, power and communications products by
significantly increasing their energy performance and efficiency. Key to Cree&#8217;s
market advantage is its world-class materials expertise in silicon carbide (SiC)
and gallium nitride (GaN) for chips and packaged devices that can handle more
power in a smaller space while producing less heat than other available
technologies, materials and products.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cree
drives its increased performance technology into multiple applications,
including exciting alternatives in brighter and more-tunable light for general
illumination, backlighting for more-vivid displays, optimized power management
for high-current, switch-mode power supplies and variable-speed motors, and
more-effective wireless infrastructure for data and voice communications. Cree
customers range from innovative lighting-fixture makers to defense-related
federal agencies.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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</font></div>
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              </div>
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</font></div>
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product families include blue and green LED chips, lighting LEDs, LEDs for
backlighting, power-switching devices and radio-frequency/wireless devices. For
additional product specifications please refer to www.cree.com.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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            <div>
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                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Contacts</font></div>
                                          </td>
                                        </tr>
                                        <tr>
                                          <td align="left" valign="top" width="65%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        </tr>
                                        <tr>
                                          <td align="left" valign="top" width="65%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Media
      Inquiries:</font></font></td>
                                        </tr>
                                        <tr>
                                          <td align="left" valign="top" width="65%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Michelle
      Murray</font></div>
                                          </td>
                                        </tr>
                                        <tr>
                                          <td align="left" valign="top" width="65%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Corporate
      Communications</font></div>
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                                        </tr>
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                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">      </font>
                                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: none">michelle_murray@cree.com</font></font></div>
                                            </div>
                                          </td>
                                        </tr>
                                        <tr>
                                          <td align="left" valign="top" width="65%">
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: none">(919)
      313-5505</font></font></div>
                                          </td>
                                        </tr>
                                        <tr>
                                          <td align="left" valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(919)
      313-5943 (Fax)</font></td>
                                        </tr>
                                        <tr>
                                          <td align="left" valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                        </tr>
                                        <tr>
                                          <td align="left" valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Investor
      Inquiries:</font></td>
                                        </tr>
                                        <tr>
                                          <td align="left" valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Raiford
      Garrabrant</font></font></td>
                                        </tr>
                                        <tr>
                                          <td align="left" valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">      </font>
                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Director,
      Investor Relations</font></div>
                                          </td>
                                        </tr>
                                        <tr>
                                          <td align="left" valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: none">raiford_garrabrant@cree.com</font></font></font></td>
                                        </tr>
                                        <tr>
                                          <td align="left" valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: none">(919)
      313-5397</font></font></font></td>
                                        </tr>
                                        <tr>
                                          <td align="left" valign="top" width="65%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(919)
      313-5615
(Fax)</font></td>
                                        </tr>
                                    </table>
                                  </div>
                                </div>
                              </div>
                            </div>
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