For more information, contact:

Richard Beck Advanced Energy Industries 970/407-6204

Janet Nelson (analysts/investors) Financial Relations Board/San Francisco 415/986-1591

Fort Collins, CO (July 15, 1999)--Advanced Energy Industries, Inc. (Nasdaq NM: AEIS) today announced the promotion of Hollis L. Caswell, Ph.D., 67, to president, replacing Douglas S. Schatz, who remains chief executive officer and chairman. Dr. Caswell retains his positions as chief operating officer, which he has held since June 1997, and member of the board of directors, to which he was elected in February 1997.

“This promotion recognizes the tremendous contribution in both performance and leadership that Holly has made to our company,” said Schatz at the announcement. “Holly has been instrumental in developing capabilities in the company that are critical to our growth into a much larger company. His operational and technical skills are only surpassed by his leadership development abilities. This is allowing us to build a larger company with a stronger infrastructure in a much shorter period of time, and our recent performance is just another example.”

Previously, Dr. Caswell served as chairman and chief executive officer of HYPRES Inc. Before that Dr. Caswell was senior vice president of Unisys Corporation, and president of that company’s Computer Systems Group from 1984 to 1990. Additionally, for 26 years, Dr. Caswell served in technical and executive management positions of increasing responsibility at IBM. During his tenure, he was elected as a Fellow of the IEEE for his contributions to semiconductor technology.

Hollis Caswell earned a Ph.D. in engineering physics from Cornell University and a B.S. in physics from Drexel Institute of Technology. Dr. Caswell was elected to Phi Beta Kappa and Sigma Xi. Additionally, he was a Celanese Fellow at Cornell and a Sloan Fellow at MIT.

About the Company
Founded in 1981, Advanced Energy Industries, Inc. is a leading manufacturer of power delivery systems that are critical in the manufacturing of semiconductors, data storage media, flat panel displays, and other products using thin-film technology. Within its comprehensive product portfolio of direct current (DC), low/mid-frequency and radio frequency (RF) solutions, the Company sells hundreds of different products critical in applications ranging from compact disks, digital video disks, flat panel displays, the most popular logic semiconductor devices, among many other applications. The Company’s stock is traded on the Nasdaq National Market under the symbol AEIS.

For more information, access Advanced Energy’s web site at www.advanced-energy.com or for information via fax, no cost, dial 1-800-PRO-INFO, code AEIS.