FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

BECK RICHARD P 		2. Issuer Name and Ticker or Trading Symbol

ADVANCED ENERGY INDUSTRIES INC [ AEIS ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

1625 SHARP POINT DRIVE 		3. Date of Earliest Transaction (MM/DD/YYYY)

11/4/2003
(Street)

FORT COLLINS, CO 80525
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   11/4/2003     S    5000   (1) D $25.2953   88574   D  
 
Common Stock                  200   I   By Spouse and a person unrelated to reporting person   (2)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Director Stock Option (right to buy)   $17.85                   7/18/2002   (3) 7/18/2012   Common Stock   7500     7500   D  
 
Director Stock Option (right to buy)   $10.67                   5/7/2003   (4) 5/7/2013   Common Stock   5000     5000   (5) D  
 

Explanation of Responses:
(1)  Per Non-Discretionary Sales Plan - Rule 10b5-1 Sales Plan dated August 6, 2003.
(2)  The securities are held of record in joint tenancy by the reporting person's spouse and a person unrelated to the reporting person. The reporting person hereby disclaims beneficial ownership of these securities, and the report shall not be deemed to be an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 under the Securities and Exchange Act of 1934, as amended or otherwise.
(3)  The director stock option granted on July 18, 2002 is immediately exercisable as to 2,500 shares of Common Stock and will vest as to 2,500 shares on each of July 18, 2004 and July 18, 2005.
(4)  The director stock option granted on May 7, 2003 is immediately fully exercisable.
(5)  Mr. Beck has been granted Director Stock Options (right to buy) totaling 12,500 shares of Common Stock with the above exercise prices and expiration dates.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
BECK RICHARD P
1625 SHARP POINT DRIVE
FORT COLLINS, CO 80525 		X



Signatures
Michael El-Hillow - Attorney-in-Fact 11/5/2003
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.