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Advanced Energy’s E’wave™ Bi-Polar, Pulsed-DC Power Supply

FORT COLLINS, Colo., Aug. 4, 2004—Advanced Energy Industries, Inc. (Nasdaq: AEIS) today announced that its E'Wave™ bi-polar, pulsed-DC power supply has been adopted to power a leading-edge chemical mechanical polishing (CMP) technology by a premier, global CMP systems supplier. The adoption of the E'Wave technology enables this leading supplier to provide its customers with higher process flexibility and capability, while delivering tighter process control for advanced CMP processes. In addition, the world-class technical expertise and responsiveness of AE's development and applications engineers were key factors in the development of the new process system and the customer's decision to adopt Advanced Energy power technology. This new business marks AE's first entry into the CMP market.

Advanced CMP processes required tight, yet flexible process control. The E'Wave unit optimizes performance with three, independently-controlled channels, each of which operate up to 600 W. The unit provides additional flexibility by storing up to 15 process recipes and 30 waveforms with voltage or current control per channel. Moreover, the E'Wave unit's highly precise, on-board measurement system enables process monitoring and tighter process control.

Senior Vice President and General Manager of AE's core products group Steve Rhoades noted, "The adoption of our E'Wave bi-polar, pulsed DC supply on this important, new CMP system builds on our strong, well-established presence in PVD, CVD, and etch processes. The adoption of advanced E'Wave technology coupled with our development and applications responsiveness shows, once again, AE's continuing ability to deliver competitive advantage to our customers."

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 management, thermal instrumentation and plasma and ion beam sources 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 Nasdaq National Market under the symbol AEIS. More information can be found at www.advanced-energy.com

Advanced Energy^® and E’Wave™ are trademarks of Advanced Energy Industries