For more information, contact:

Mike El-Hillow Advanced Energy Industries, Inc. 970.407.6570

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

Fort Collins, Colo., December 4, 2003—Advanced Energy Industries, Inc. (Nasdaq: AEIS) today announced that Dennis Faerber, executive vice president and chief operating officer, has left the company. The Company'¦s product and technology, manufacturing, global customer operations and quality groups will now report to Doug Schatz, chairman and chief executive officer. The Company will not seek a replacement for the position of chief operating officer.

Mr. Schatz commented, "We thank Dennis for his efforts and success over the past year, including ramping our China manufacturing initiative. I plan to become more actively involved with the operational aspects of the organization, supported by our strong leadership team, as we continue to drive toward increased operational efficiencies."

About Advanced Energy
Advanced Energy is a global leader in the development and support of technologies critical to high-technology manufacturing processes used in the production of semiconductors, flat panel displays, data storage products, compact discs, digital video discs, architectural glass, and other advanced product applications.

Leveraging a diverse product portfolio and technology leadership, AE creates solutions that maximize process impact, improve productivity and lower cost of ownership for its customers. This portfolio includes a comprehensive line of technology solutions in power, flow, thermal management, plasma and ion beam sources, and integrated process monitoring and control for original equipment manufacturers (OEMs) and end-users around the world.

AE operates in regional centers in North America, Asia and Europe and offers global sales and support through direct offices, representatives and distributors. Founded in 1981, AE is a publicly held company traded on the Nasdaq National Market under the symbol AEIS. For more information, please visit our corporate website: www.advanced-energy.com