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Advanced Energy Names New Divisional Presidents

Mr. Gentilcore joined Advanced Energy in 1996 and served most recently as the President of AE Voorhees, where he led the post-merger integration of the former RF Power Products. Before joining Advanced Energy he was Vice President of Corporate Marketing at MKS Instruments and earlier, a vice president at Helix Technology. EMCO, located in Longmont, Colorado, was acquired by Advanced Energy on January 2, 2001. EMCO provides electronic and electro-mechanical precision instruments for measuring and controlling the flow of liquids, steam, and gases.

Mr. Ruff replaces Mr. Gentilcore as President of the AE Voorhees division. Mr. Ruff joined Advanced Energy in 1990 and served most recently as the VP of Engineering at AE Voorhees. Located in Voorhees, New Jersey, this division of Advanced Energy contains the company's second largest manufacturing facility and focuses on the development, engineering and marketing of high-precision RF power delivery systems.

"We look forward to the contributions Mr. Gentilcore and Mr. Ruff will make in their new roles at Advanced Energy. Both gentlemen have proven their abilities as effective leaders in the positions they have held at AE over the years. We are pleased to now leverage their experience, track record and qualifications at our EMCO and AE Voorhees divisions," said Hollis Caswell, President and Chief Operating Officer of Advanced Energy.

About Advanced Energy
Advanced Energy is a global leader in the development, marketing, and support of integrated technology solutions that are central in the manufacture of semiconductors, data storage products, and flat panel displays as well as other mission-critical power applications. AE's comprehensive suite of custom subsystems for vacuum processing includes power conversion and control solutions, process monitoring and machine control tools, ion-beam sources, dynamic temperature control and measurement products, mass flow systems, and plasma abatement technologies. AE's URL is www.advanced-energy.com

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the companies' reasonable judgments with respect to future events, but are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Among the factors that could cause such different results are: AE might not be able to integrate the companies' operations successfully; integration of the companies' operations could result in unanticipated costs or substantial diversion of management’s attention; and the projections on which the companies relied to determine the advisability of the merger ultimately might not prove to have been accurate. These and other cautionary statements are discussed in Advanced Energy's SEC reports, including its Forms 10-Q and most recent annual report on Form 10-K. The company continues to be susceptible to fluctuations in quarterly and annual revenues and operating results and the volatility and cyclicality of the semiconductor and semiconductor capital equipment industries. The company assumes no obligation to update the information in this release. Free copies of this and other documents are available from the SEC at www.sec.gov or Advanced Energy at 1625 Sharp Point Drive, Fort Collins, CO 80525; 970-221-4670.