SOURCE: Cray Inc.

December 05, 2006 07:30 ET

Cray's Peter Ungaro Named CEO of the Year

SEATTLE, WA -- (MARKET WIRE) -- December 5, 2006 -- Cray Inc. (NASDAQ: CRAY) today announced that CEO and President Peter Ungaro was recognized by Seattle Business Monthly Magazine for his leadership in turning around the company and has been named CEO of the Year in its December 2006 issue. Since taking the CEO role in August 2005, Mr. Ungaro has focused on execution, innovation and cost cutting measures to enable Cray to return to profitability. Cray designs and develops the world's most powerful supercomputers, arming scientists and engineers with the computational capabilities they need to reach significant scientific breakthroughs.

"We researched several prominent Seattle-area CEOs and believe that in 2006, Mr. Ungaro demonstrated a bigger positive impact on his company than the other, equally distinguished candidates," said Jeff Bond, editor of Seattle Business Monthly.

Last month, the company was recognized as a leading innovator and awarded $250M from the U.S. Defense Advanced Research Projects Agency to develop a revolutionary new supercomputer that integrates a range of processing technologies into a single platform. In addition, the company has signed several notable deals over the past year, including the world's first contract for a peak petaflops (1,000 trillion floating point operations per second) system to be delivered to the Department of Energy's Oak Ridge National Laboratories as well as large system contracts with the National Energy Research Scientific Computing Center (NERSC) and CSC Finland, the Finnish IT center for science.

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Offering a fresh, insider look at local business, Seattle Business Monthly is the region's must-read guide to the issues, trends, innovators and executives mapping the future of the Pacific Northwest. It's the only place you'll find insightful, thought-provoking coverage of the region's economy and advice you can bank on. We're taking the pulse of the Puget Sound communities that influence your business and dissecting the politics that make the region's businesses buzz. Seattle Business Monthly is your compass for navigating the unique challenges of doing business in Washington State.

About Cray Inc.

As a global leader in supercomputing, Cray provides highly advanced supercomputing systems and world-class services and support to government, industry and academia. Cray technology enables scientists and engineers to achieve remarkable breakthroughs by accelerating performance, improving efficiency and extending the capabilities of their most demanding applications. Cray's Adaptive Supercomputing vision will result in innovative next-generation products that integrate diverse processing technologies into a unified architecture, allowing customers to surpass today's limitations and meeting the market's continued demand for realized performance. For more information, go to www.cray.com.

Cray is a registered trademark of Cray Inc. All other trademarks are the property of their respective owners.

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