For more information, contact:

Richard Beck Advanced Energy Industries, Inc. 970.407.6204 dick.beck@aei.com

Cathy Kawakami Advanced Energy Industries, Inc. 970.407.6732 cathy.kawakami@aei.com

Fort Collins, Colorado (October 8, 2001)—Advanced Energy (Nasdaq: AEIS) today announced it has been named to Deloitte & Touche's prestigious “Technology Fast 50" Program for Colorado, a ranking of the 50 fastest growing technology companies in the area. Rankings are based on the percentage of growth in revenues from 1996-2000.

Doug Schatz, chairman and chief executive officer credits the company’s commitment to technology innovation and market share gains with the company's 264 percent revenue growth over the past five years. He said, “Even in industry slowdowns, as we experienced in 1998 and as we are experiencing currently, we have been able to increase market share in all of our served markets and drive long-term revenue and earnings growth. One of the keys to our success is that we work closely with our customers to develop leading-edge solutions that enhance their increasingly complex manufacturing processes.”

"Today, there are more than 22,000 technology companies in the United States, many of whom are competing for the same markets here in the states and worldwide. The Fast 50 winners for Colorado have proven that they can compete successfully by consistently delivering technological wonders. We at Deloitte & Touche commend Advanced Energy for having the vision and determination to become one of the 50 fastest growing technology companies in Colorado," said Gary McIver, Technology & Communications Partner of Deloitte & Touche’s Colorado practice.

Advanced Energy's increase in revenues of 264 percent over the five-year period of 1996 to 2000 resulted in a 34th position ranking overall in the Fast 50 for Colorado.

To qualify for the Fast 50, companies must have had operating revenues of at least $50,000 in 1996 and $1,000,000 in 2000, must be public or private companies headquartered in Colorado; and be "technology companies" defined as companies that produce technology, manufacture a technology product, or devote a high percentage of effort to research and development of technology.

Winners of the 22 regional Fast 50 programs in the United States and Canada are automatically entered in the Deloitte & Touche Technology Fast 500 program, which ranks North America’s top 500 fastest growing technology companies. For more information on the Deloitte & Touche Fast 50 or Fast 500 programs, please visit www.fast500.com.

About Advanced Energy
Advanced Energy is a global leader in the development, marketing, and support of technology solutions that are central in the manufacture of semiconductors, data storage products, and flat panel displays. Original equipment manufacturers (OEMs) and end-users around the world depend on AE products when plasma-based technology plays a vital role in their manufacturing process. AE offers a comprehensive suite of products for vacuum process systems, including power management, temperature sensing, dynamic temperature control, gas delivery management, process monitoring and machine control tools, ion-beam sources, and plasma abatement technologies. AE technology solutions are sold and supported globally by direct offices, representatives, and distributors. Founded in 1981, AE is a publicly held company traded on Nasdaq under the symbol AEIS. AE's URL is www.advanced-energy.com.

About Deloitte & Touche
Deloitte & Touche, one of the nation's leading professional services firms, provides assurance and advisory, tax, and management consulting services through nearly 30,000 people in more than 100 U.S. cities. The Technology & Communications Group is composed of service professionals who have a wealth of experience serving technology and communications companies throughout the world in areas including Internet, software, semiconductors, cable, media and publishing, communication utilities, networking, wireless, computers and peripherals, and related industries. Deloitte & Touche is part of Deloitte Touche Tohmatsu, a global leader in professional services with more than 90,000 people in over 130 countries. Deloitte & Touche refers to Deloitte & Touche LLP, Deloitte Consulting LLC and related entities. For additional information, please visit Deloitte & Touche's web site at www.us.deloitte.com.

For further information, please contact: Richard Beck, Sr. VP, Chief Financial Officer, +1-970-407-6204, dick.beck@aei.com, or Cathy Kawakami, Director of Investor Relations, +1-970-407-6732, cathy.kawakami@aei.com, both of Advanced Energy Industries, Inc.