AEROSPACE

Cray Inc. today announced that its Board of Directors has elected John B. Jones, Jr. as a member of the Board. He will serve on the Board's Compensation Committee. Jones has been a leading equity research analyst for nearly twenty years, covering America's high technology firms. Until his recent retirement, he was a Senior Managing Director at Schwab SoundView Capital Markets. He joined SoundView in 2002 as a Senior Equity Research Analyst. From 1992 to 2002, Jones was a Managing Director and Senior Analyst at Salomon Brothers, Salomon Smith Barney and Citibank, where he covered the Server and Enterprise Hardware, Printer and Test & Measurement industries. From 1985 to 1992, he was a partner and senior analyst at Montgomery Securities. Prior to his career as an equity research analyst, Jones held various positions in the computer industry at Stratus Computer, Wang laboratories and IBM. Jones received his B.S. degree from the University of Oregon. "Cray is dedicated to leading the high performance computer industry," said Jones. "I am excited by Cray's ambitious plans to expand its market share and contribute to America's leadership in high performance computing." "We have known John for many years and are excited to have his financial and industry expertise available to the Board and management," said James E. Rottsolk, Cray's chairman and chief executive officer. "John has gathered numerous awards for his research, including being ranked in the Institutional Investor All-American Research Team poll for Server and Enterprise Hardware since 1996. He covered both Cray Research and Tera Computer for many years. He knows the industry and its people better than anyone else I can think of, and we look forward to working with him."