For more information, contact:

Richard Beck
Advanced Energy Industries, Inc
(970) 407-6204
Janet Nelson (analysts/investors)
The Financial Relations Board/BSMG Worldwide
(415) 986-1591

Advanced Energy Industries Files Registration Statement Related to Proposed Public Offering

FORT COLLINS, CO (September 21, 1999) -- Advanced Energy Industries, Inc. (Nasdaq NM: AEIS) announced today that it has filed two registration statements with the Securities and Exchange Commission. One registration statement relates to a proposed public offering of three million shares of common stock, consisting of one million shares to be issued by the company and two million shares to be sold by certain selling shareholders. The other registration relates to a proposed offering of $100 million in convertible subordinated notes due 2006. Each of the proposed offerings will be made only by means of a prospectus after the registration statement has been declared effective by the Securities and Exchange Commission. Net proceeds to the company from the offerings are expected to be used for general corporate purposes, including possible acquisitions, and working capital requirements. Goldman, Sachs & Co. is the lead manager for both the common stock and convertible subordinated notes offerings.


When available, a copy of the Prospectus relating to each of the offerings may be obtained from Goldman, Sachs & Co., 85 Broad Street, New York, NY 10004.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such State.

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.

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